Auto insurance is more than a matter of insuring your vehicle for loss or repairs after an accident. It is a financial safety net that can help you offset the cost of bodily injuries to yourself or others, lost wages due to injury and lawsuits brought against you as the result of an accident. Most states require the purchase of basic coverage, and then you determine the additional insurance you need. Another way to safeguard your family's financial future is through estate planning. Generally, estate planning includes inventorying your assets and making a will or establishing a trust, with an emphasis on minimizing taxes.
Estate planning is very complex and subject to changing laws.
You may want to seek professional advice.