Is it advisable to purchase more liability insurance than the minimum required?

Purchasing more liability insurance than the minimum required is advisable because it provides better security. Liability insurance is designed to protect you from financial losses resulting from accidents for which you are held responsible. If you only have the minimum coverage, you may find that it is insufficient to cover damages or medical expenses incurred by others in an accident, which could leave you personally liable for the excess costs. This could lead to significant financial strain, including the possibility of losing personal assets or facing lawsuits.

Having additional coverage can give you peace of mind, knowing that you are better protected against unforeseen circumstances. It reflects a wise approach to financial planning, considering that accidents can lead to substantial monetary claims that far exceed minimum coverage limits. The more you invest in your liability insurance, the better you can safeguard your personal finances and assets.