One of my favorite movies of all time is Back to the Future (Part 2 to be specific). In my profession, I oftentimes wish I had a time machine so that I could travel back in time and stop accidents from happening. Since that’s not possible, I wanted to try the next best thing…encourage you to take a look at your car insurance to make sure you have the right coverage, should you need it in the future.
"Great Scott!" When’s the last time you checked to see if you had the right auto insurance coverage?
Most people procrastinate with things like writing wills and reviewing their car insurance coverage because it is uncomfortable to think of bad things happening in the future. I don’t blame you. But, I’ve seen what happens when people don’t consider the future until it’s too late.
Take for example a 30-year-old man who was killed in a Louisiana car accident heading to Mississippi on I-55 a few years ago. He left a wife and 2 young children. His wife called me and we investigated the specifics of this devastating car accident. It turned out that the driver who caused the accident had minimum liability coverage and our driver didn’t have any UM (Uninsured/Underinsured Motorist) coverage. That left his family with only $15,000 to support them. If our driver would have had UM coverage, it would have provided his family with additional money to help them try to get by without him.
“Hello? Hello? Anybody home? Think, McFly, Think!” Do You Really Have Full Car Insurance Coverage?
When I ask a client what kind of insurance they have, a very common answer is “I’ve got full coverage.” BUT THEY DON’T!
“Full coverage” to most people means having the bare minimum types and limits of insurance required by the law. This means liability limits of only $15,000 per person ($30,000 per accident) and $25,000 for property damage. Louisiana law does not require drivers to have coverage which could protect themselves in the event of a car accident, like UM and med-pay coverage.
“Full coverage” to most people means having the bare minimum types and limits of insurance required by the law. This means liability limits of only $15,000 per person ($30,000 per accident) and $25,000 for property damage. Louisiana law does not require drivers to have coverage which could protect themselves in the event of a car accident, like UM and med-pay coverage.
“Roads? Where We’re Going We Don’t Need Roads!” You Definitely Need To Ensure You Have The Right Car Insurance!
Even if you recently paid $39,999.95 to get a hover conversion for your DeLorean, you still need auto insurance if you are going to be driving (or flying) around town.
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Here Are The Most Common Car Insurance Coverages You Should Consider
Liability Coverage
This protects you if you are at-fault for causing an accident. In Louisiana, the minimum requirement is $15,000 per person/$30,000 per accident for bodily injuries and $25,000 for property damage. Flattmann Law Tip: Get as much as you can and look into getting an umbrella policy to make sure you protect yourself from liability.
Uninsured/Underinsured Motorist Coverage
This provides you with coverage for your own injuries even if the at-fault driver didn’t have insurance or didn’t have enough insurance to cover your damages and injuries. The law doesn’t require you to have it. Flattmann Law Tip: Get as much as you can afford!
Collision Coverage
This provides you with coverage to pay for damage to your own vehicle if you hit an object or even if another vehicle hits you. This is optional coverage most of the time, unless your leaseholder/lender requires it. Flattmann Law Tip: Get this coverage! If you get in an accident and the other driver doesn’t have insurance or if his insurance company is dragging their feet, collision coverage is great to have.
Medical Payment Coverage
This provides a certain amount of money for paying medical bills, deductibles, and co-pays when you have to go to the doctor after a wreck. Again, this is optional coverage. Flattmann Law Tip: Consider adding this to your policy if you can afford it, especially if you don’t have health insurance or have a high-deductible plan.
“Why Don’t You Make Like A Tree And Get Out Of Here?” Take The Next Steps To Ensure You Have The Right Car Accident Insurance Coverage!
So, now that you know what kind of extra coverages are out there and how they can protect you and your family, what’s next? Don’t wait until tomorrow. Call your insurance agent today. Make sure you understand what kind of coverage you have and consider increasing or adding the coverages we discussed above.
Protect Your Family's Future With A Free Car Insurance Review From Louisiana Car Accident Attorney Grady J. Flattmann
And, as a “thank you” for reading to the end of this article, I am offering a free auto insurance review. Simply email a copy of your insurance declaration’s page (the list of coverages you have) to [email protected] and I’ll review it with you to make sure you have the safest coverage for you and your family.
Here’s to looking out for your future!