Editor's note: This article first appeared onCarInsurance.com and is reprinted here with their permission.Click here for the original post.

Opting for your state's minimum liability car insurance may befine if you only want to comply with the insurance laws required toget behind the wheel.

But you'll have to buy more coverage, higher liability limitsand comprehensive and collision insurance, if youwant protection from other highway risks whilesafeguarding all your financial assets.

Here are 10 things that you may have to pay for with only abare-bones policy:

1. Severe damage to others

The other driver or drivers can sue if you're involved in amajor accident. Found to be at fault and you could be responsiblefor all the expenses tied to the crash, from property damage tohospital costs. An insurer will pay up to your coverage limits, butthe rest could be on you. Your savings, property and even wages maybe targeted.

States have different liability minimums, but the Insurance Information Institute (III) says manyare similar to New York's, which break down like this:

• $25,000 per injured person for bodily injury.
• $50,000 per accident for bodily injury.
• $10,000 for property damage.

The III warns that these levels are likely to be inadequateafter a bad accident. "In today's litigious society, buying onlythe minimum amount of liability means you are likely to paymore out of pocket for losses incurred after an accident—and thosecosts may be steep," says spokesman Michael Barry.

The institute recommends $100,000 of bodily injury protectionper person and $300,000 per accident, adding that the extracoverage usually costs about $100 a year.

2. Hail damage

Hail is just one of the hazards that bad weather can bring.Penny Gusner, the consumer analyst for Insure.com, saysyou'll need optional comprehensive coverage to repair hail or otherweather-related problems.

"Comprehensive insurance basically covers situations that are'other than collision,' such as theft, fire, vandalism or damagearising from natural events, like a hail storm," she says.

Jeanne M. Salvatore, the III's senior vice president andconsumer spokeswoman, adds that comprehensive covers "variouswinter-related disasters, such as a tree or chunk of ice that fallson a car, as well as a lightning strike."

3. Accident damage caused by you or anotherdriver

You'll need optional collision insurance to repair or replaceyour car after an accident.

"Collision covers your insured vehicle for physical damage thatyour car sustains when it hits, or is hit by, another vehicle oranother object," Gusner says. "Collision also covers the upset ofyour vehicle, such as unintentional rolling or flipping."

About 70% of vehicle owners buy collision coverage every year,according to the National Association ofInsurance Commissioners.

4. Damage from striking a deer or otheranimal

Comprehensive is required if you hit a deer. Or have otherproblems caused by animals, such as marauding bears eager forloot.

The III says more than 1.2 million deer-vehicle collisionsoccurred nationwide between July 1, 2012, and June 30, 2013. "Butdeer aren't the only animals that can damage your car," theinstitute points out. "Bears have a habit of breaking into carsaround national parks, looking for food that visitors leavebehind."

State Farm, in an analysis of its own insurance claims andaccident statistics gathered from the Federal HighwayAdministration, predicts that motorists face a one in 174 chance ofcrashing into a deer this year. And the average property-damagecost of such incidents is about $3,400, compared to about $3,300for the previous year, the insurer says.

5. Damage from hitting a pole in the parkinglot

Parking lot accidents can sneak up on you, especially during theheavy shopping days surrounding the holidays. What if you hit apole or another obstacle while maneuvering through a crowded lot?You'll need collision coverage.

Do most people know that? Not according to a recent survey byCarInsurance.com on parking lot accidents - only 38% were awarethat collision pays for damage after a pole encounter.

While buying collision can be smart, Gusner does offer advice tosave money: "This is considered a collision claim since youcollided with an object, and you will be found at fault by yourinsurer," she explains. "Collision coverage pays regardless offault but comes with a deductible so I'd recommend that you findout the cost of repair before placing a claim. If the repair costis lower than your deductible (or even a tad above it), pay out ofyour own pocket without making a claim since your collisioncoverage only kicks in once you've met the deductible."

Salvatore says that collision is generally sold with adeductible of $250 to $1,000.

6. Replacing a stolen vehicle

Stolen car? You'll need comprehensive. "It covers the theft ofyour whole vehicle and parts or equipment that are permanentlyattached or installed to your vehicle," Gusner says.

The III notes that vehicle theft resulted in more than $4.3billion in losses in 2012, with the average loss reaching$6,019.

7. Flooding damage

Comprehensive covers it, which is especially important in highrainfall or hurricane regions like Florida and the Gulf states.Beyond flooding damage, comprehensive can also help with havoc fromtornadoes and even volcanic eruptions.

Gusner advises planning ahead when buying the protection. "Ifyou don't have comprehensive, you need to get it before hurricaneor flood warnings are given for your area," she says. "Insurancecompanies can't add new coverage or write a new insurance policywhen a storm warning has been issued."

8. Damages caused by an uninsured driver

Salvatore says drivers should consider adding uninsured motorist(UM) or underinsured motorist coverage (UIM) to their policy. Sheexplains that UM coverage will reimburse you, a member of yourfamily, or a designated driver for bodily injuries caused by anuninsured motorist or a hit-and-run driver. UIM comes into playwhen an at-fault driver has insufficient insurance to pay for yourtotal loss. UIM also provides coverage if you're walking and hit bya car.

Some states already require you to carry uninsured motoristcoverage, but Salvatore advises discussing your policy with an agent to getdetails.

The Insurance Research Councilestimates that almost 30 million drivers are uninsured, which isabout one in eight of all U.S. motorists.

(Photo: KellyNelson/ Shutterstock.com)

9. Personal injury costs from an accident

To ensure your hospital bills are paid beyond your bodily injurylimits, there's medical payments (MedPay) and personal injuryprotection (PIP) coverage.

Both usually protect you, passengers and other authorizeddrivers of your vehicle who are injured in an accident. They alsocover you and your family when injured while riding in someoneelse's car or if you're hit by a vehicle while walking.

PIP is typically more far-reaching and pays for wages lostbecause of an accident, something MedPay doesn't. Both PIP andMedPay usually help with funeral expenses.

(Photo: fabiodevilla / Shutterstock.com)

10. Fire damages

What do you need to cover costs related to a car fire? Again,it's comprehensive.

The National Fire ProtectionAssociation (NFPA) says a vehicle fire breaks out every 96seconds in the U.S. Most are from accidents, but non-crash firescan start because of electrical problems or faulty fuel systems.Comprehensive also safeguards you if your car is damaged from ablaze caused by a recalled part.