Glossary term
Liability limits
Liability limits: The maximum paid for injuries and damage you cause, e.g. 250/500/100 in thousands. Retirees typically need higher limits to protect assets.
Where this term matters
Guides and entries on this site that use the term.
Guide
Car Insurance Coverage in Retirement
How coverage needs change after retirement: liability to protect savings, medical coverage, collision on an ageing car, umbrella policies, and coverage when you drive less.
Entry
Dropping Collision and Comprehensive Insurance on an Older Car in Retirement
Learn when retirees should drop collision and comprehensive coverage on an older vehicle, how the 10x rule works, and how to protect your savings.
Entry
Car Insurance Liability Limits in Retirement: Protecting Your Assets
Why state minimum auto insurance leaves retirement assets vulnerable, how recent state liability laws change minimums, and how to choose proper limits.