The Best Insurance Advice

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BODILY INJURY . . .OOH! MY NECK!!!

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Yeah, this one is vital for your protection even though the money goes to the other guys . . Bodily Injury pays for medical bills, pain and suffering, and loss of wages for the people you hit and injure when you are found at fault or partly at fault.  The first number in the bodily injury coverage is a per person figure and the second number is for all the people – total.  Some states do not even require you carry any of this coverage!   CRAZY!   But then, after you don’t have it and you are in an accident that is your fault they require you carry 100/300 limits for 3 years even if you don’t own a car!!!!  Insurance does not always make sense does it?!  Below is a web page that gives links to each state and their insurance requirements:

 

http://www.americanamicable.com/Public/Useful_Links/State_Codes.htm

Now that you may know what the least is that you have to carry

GUARDING THE EGGS
MsPixie / Foter / CC BY-NC-SA

let’s talk about what you should carry because the least is not the best answer.   First, if you have seizable assets to protect you will need pretty high limits.  Whatever you don’t have enough insurance for they (the non-fault injured party) will sue you for the rest usually without hesitation.   Consider this also . . .if you own a business, if you have a seemingly nice home, nice cars, ie have the appearance of having some moola then there are people who will get in front of you and slam on their brakes.  It happens and all the time.   Don’t let inadequate coverage mess up your finances and/or life.   If you carry fairly high limits but still have assets over those limits that need protection either make sure your assets are not seizable or get a personal umbrella policy in addition.

Secondly, let’s get all ethical now.   How about carrying a coverage that is responsible and reasonable?  Do you really not want good coverage if you God forbid hit a pedestrian and permanently disable or scar them or what if you hit and killed some adult or even a child? You cannot carry enough insurance in those cases so carry as much as you can; trust me!

 

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