Choosing the Best Insurance Coverage
Despite rates of uninsured motorists decreasing over the last ten years, many drivers still choose to forgo an auto insurance policy. In Louisiana, nearly 12% of motorists remain uninsured, putting other drivers at risk of paying out-of-pocket for injuries caused by another. However, the state requires that motorists carry a minimum amount of insurance. Read on to learn more about this requirement and additional coverage you can include on your policy.
1. Minimum Insurance Requirements
State law mandates that drivers carry minimum liability coverage, also known as 15/30/25 coverage. This policy includes up to:
- $15,000 for bodily injury to one person.
- $30,000 for bodily injury to more than one person.
- $25,000 for property damage.
Remember, liability insurance is designed to protect other parties involved in the collision, not you. However, you can obtain policy additions to ensure that you are protected.
2. Policy Add-Ons to Consider
Five main kinds of policy add-ons can be combined for a comprehensive coverage plan. Although most drivers choose to buy some of the additions together, it’s up to you to decide how much or little coverage you want. Here are some other options:
- Medical payments coverage ("MedPay"): covers medical expenses for you, your family, and your passengers following an accident, regardless of who is at fault.
- Uninsured or Underinsured Motorist Coverage: covers the property damage and bodily injury caused by an uninsured motorist in a collision. This can also be split into economic-only (cost of injuries) or property damage coverage.
- Towing and labor coverage: takes care of towing and labor costs when your car is "disabled."
- Comprehensive coverage: pays for damages caused by things other than a collision. (theft, fire, flooding, etc.).
- Collision coverage: pays for the property damage resulting from an accident.
It's important to assess the driving behaviors of each person who uses the vehicle when determining the amount of insurance to obtain. For example, families with teenage drivers may want to increase their policies, while those who rarely drive may only choose to have the minimum.
3. Why You Should Want More Coverage
Many drivers opt for the lowest coverage possible in hopes that it will keep costs down. However, most additional coverage options tend to be cost-effective and work to protect you and your family when involved in any kind of collision—including those with uninsured drivers. Having some form of UM/UIM or MedPay coverage in addition to your minimum policy ensures that you can afford costly medical treatments even if the other driver is unable to pay.
New Orleans Accident Attorneys
You want to keep your family safe, and The Burrell Firm LLC can help. When you're involved in a collision that results in the injury or death of a loved one, rest easier knowing that you can have a skilled attorney on your side to seek the compensation you deserve.
Call (504) 688-7728 to schedule a free consultation with a member of our team.