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Starting in January 2025, California will implement new regulations for auto insurance, which will raise the minimum coverage limits.
These new limits will be:
- $30,000 per person
- $60,000 per accident
- $15,000 for property damage.
How Will These New Boundaries Affect You?
If you currently have an auto insurance policy with the state's minimum limits, you will likely experience an increase in your insurance premiums due to these changes. Insurance companies will adjust rates to reflect the increase in coverage limits, which will translate into higher costs for policyholders.
How Will This Affect Your Auto Insurance?
Premium Costs:
With the increase in minimum coverage limits, your auto insurance costs will almost certainly increase as well. This is because insurance companies will have to provide more coverage in the event of an accident.
Existing Policies Review:
Your insurance company may review your current policy to adapt it to new coverage requirements. This could involve an automatic adjustment of your limits and, consequently, an increase in the cost of your premium.
Opportunity to Re-Evaluate Your Coverage:
While increasing minimum limits may seem like an added expense, it is also an opportunity to review and adjust your coverage. You may find that you need additional coverage to better protect your assets and financial well-being.
We Are Here To Help
We understand that this change may bring uncertainty and questions about how it will affect your budget. Our team is here to help you navigate these changes. We offer personalized advice to make sure you understand how the new limits will affect your insurance and your wallet.
Contact Us
Don't wait until the changes come into effect. Contact us today to review your policy and explore the options that best fit your needs. We're here to provide you with the peace of mind and support you need at all times. We're here to help!
The information on the blog is for informational purposes only, it is recommended that you consult with a professional for specific advice. The accuracy of the information is not guaranteed nor is an agent-client relationship created. No liability is assumed for losses arising from the use of the content. Insurance policies are subject to individual terms and may vary, it is recommended to review the policy and consult with the agent for specific information.