Many of us do not completely understand the type or amount of auto insurance which we carry.
â€œLiabilityâ€ insurance coverage is what protects us in case we are at fault for causing an accident. If you do not have enough insurance to cover someoneâ€™s damages, they could sue and o after your personal assets. Every state has a law setting the minimum amount of Liability insurance a driver must carry. In order to be â€œlegalâ€ in the State of Ohio, you must have at least $12,500 in Liability coverage.
â€œMedical Paymentsâ€ or â€œPersonal Injury Protectionâ€ (PIP) coverage is what we can use to pay medical bills for ourselves or anyone else inside our vehicle who may be injured in an auto accident, regardless of who was at fault for causing the wreck.Â This is especially important if you do not have health insurance, or have a high deductible or co-pay on your health insurance.
â€œCollisionâ€ and â€œComprehensiveâ€ coverages will pay for damage to our vehicle if it is damaged in a crash, whether it is due our own fault or by someone else who has no insurance. Typically, this type of coverage carries a deductible, which varies from $250 to $1,000.
â€œUninsured Motoristâ€ and â€œUnderinsured Motoristâ€ coverages allow us to make a claim with our own company if we are injured by someone elseâ€™s negligence, and the at-fault driverÂ has no insurance or very little insurance. This type of coverage is very important, but often overlooked. Ohio law no longer requires an insurance agent to sell it to you, or even tell you about it. Yet, Uninsured and Underinsured Motorist coverage is crucial to have and in the right amount.
Only three states in the county have lower Liability limits than Ohioâ€™s $12,500. Most states require at least $25,000 to be â€œlegalâ€. The minimum Liability limits for every state can be found at:Â http://personalinsure.about.com/cs/vehicleratings/a/blautominimum.htm.
Regrettably, many drivers on the road carry only the bare minimum of $12,500, and some none at all.Â This is a stark reminder of why you need good Uninsured and Underinsured coverage on your own policy. You would be surprised to find how inexpensive it is. Read your policy carefully and call your agent to make sure you have the right amount of coverage.
At Mark Godbey & Associates, we help people with these kind of insurance issues every day.
For more information, please visit our web site: www.GodbeyInjuryLaw.com or feel free to call our office 513-241-6650 to speak with one of our attorneys.
Mark E. Godbey, Attorney at Law
Mark E. Godbey & Associates
708 Walnut Street, Suite 600
Cincinnati, Ohio 45202
(513) 241 – 6649 fax