Podcast: How Much Car Insurance Do I Need?

Most doctors should have an umbrella policy in a seven-figure amount. We dive into all these details in this episode to make certain you are appropriately insured to protect your finances.

Get out your car insurance policy and let's go over it to make sure you have the important things covered. Do you need comprehensive or just collision coverage? How much coverage do you need for bodily injury liability? What options should you pass on? How does your umbrella policy work with your car insurance policy? Most doctors should have an umbrella policy in a seven-figure amount. 80% of umbrella claims are auto-related. To get an umbrella policy you will be required to carry certain limits in car insurance. We dive into all these details in this episode to make certain you are appropriately insured to protect your finances.

Link to this podcast episode

What You'll Learn:

  • The difference between comprehensive and collision insurance and whether you should have both.
  • How much coverage you need for bodily injury liability and property damage liability.
  • What car insurance features you can do without.
  • Why you should have an umbrella insurance policy to layer on top of your car insurance.

About White Coat Investor

The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!


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