As of 2013, retirees who file individual tax returns must pay taxes if they receive more than $25,000 in total pensions and other income plus one-half of Social Security benefits each year.
He drives a 2008 Honda Accord LX Sedan in good condition with only the standard options and 100,000 miles on the odometer. According to the Kelly Blue Book, Markâs car is worth about $7,500. If Mark only has a few thousand dollars in savings, he should probably buy collision coverage. But if his fund has $30,000, he should answer the three questions listed above. The quote generator reveals that Mark will have to pay about $480-$600 per year for collision coverage.
Using the above bodily injury liability policy limits (25,000/50,000), letâs look at a few scenarios. Scenario 1: One person injured in an accident you cause. Total cost: $30,000. Although your policy covers up to $50,000 per accident, it only covers up to $25,000 per person.