It’s hard to generalize how much coverage you should buy. But take stock of your assets. Under Georgia law, a person who wins a lawsuit against you is a judgment creditor, and they can seize most assets in your name.
Some general rules of thumb:
If you are just starting out in life or are retired with few assets, you might purchase $50,000 in bodily injury liability, up to $100,000 per accident, and $50,000 in property damage. This is basically double Georgia’s minimums. It provides some decent protection in the event you hurt someone in a wreck. The property damage number should be adequate for most car accidents.
However, if you are an average middle class person with a home, savings, retirement, and other assets, you should consider buying $100,000 in bodily injury liability, up to $300,000 per accident, and $100,000 for property damage. This provides much more protection. Even if someone had a little more than $100,000 in losses, they might quickly settle rather than go through the expense of a lawsuit.
Wealthy individuals should probably discuss buying an umbrella policy with an insurance agent. This type of policy will provide much more protection, up to $1,000,000 or more. It also covers home insurance and lawsuits for things like defamation.