Like most states, California has minimum basic insurance requirements. You must show you are financially responsible in the event of an auto accident where you’re at fault. You can post a deposit of $35,000 with the DMV if you prefer not to carry auto insurance. Most people find having auto insurance is the easier option. At Murvay Insurance in Newport Beach, CA, our goal is to create a personal relationship with all of our customers. We will customize your insurance coverage to your needs.  

The minimum liability insurance requirements in California are very low. Surprisingly it is a 15/30/5 state. In the event of an accident where you are at fault, you need to carry $15,000 for bodily injury for a single person injured with a total of $30,000 for an accident. Damage to property is $5,000. Given the cost of a vehicle these days and a hospital stay, you could quickly find the basic amount is woefully inadequate. If the damages went beyond the basic, you would have to pay the excess out of your own pocket if you have basic insurance. Talk to your insurance agent about your coverage if you are considering having the basic liability coverage. The risk of losing everything you have worked so hard to accumulate is not worth saving a few bucks on the premium. 

If you are leasing a vehicle or if you have a car loan, you will be required to carry additional insurance, not just liability. You will need to protect the car from any potential damage. This requires collision and comprehensive coverage. If you have a car you own outright, with cash value, collision and comprehensive is the coverage you probably also need. If your car is stolen or damaged, you will be able to get it replaced or repaired. 

Contact Murvay Insurance in Newport Beach, CA with all your insurance questions and needs.