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How Do I Know If I’m Adequately Insured?

toy car sitting on top of insurance paperwork

Getting the Right Amount of Car Insurance

For newly licensed drivers or those just now getting their own car insurance, deciding on how much coverage you need to have can be stressful. The Insurance Information Institute estimates that over 13% of motorists in the United States are uninsured, and many more may not have the right amount of coverage for their driving habits. With the possibility of rates going up after a car accident or having to pay out of pocket should an uninsured driver hit you, there are many things to consider before signing that contract.

What To Consider

There are several things you may want to make sure are included when choosing the right car insurance plan. Insurance providers usually have a variation of three different plans that you can choose from:

  • Basic
  • Extended
  • Premium

While all of these options include a basic form of insurance coverage, you may decide that they are not enough to accommodate your needs.

Basic Coverage

A basic insurance package will more than likely only cover necessary things. So, this may include liability coverage for any bodily injury or property damage you may cause when driving, as well as any damages resulting from an accident where you are at fault. An extension of this would include comprehensive coverage, which accounts for damage from natural causes, such as hail, tornadoes, or tree branches falling.

However, the most crucial part of any basic coverage is ensuring that your deductibles and premiums are sufficient to cover any unforeseen circumstances.

Extended Coverage

Extended coverage often comes with an extra layer of protection should you get into an accident. While it will likely include everything from a basic package, it will go a step further to have medical payments coverage (MedPay) or personal injury protection. While these terms are often thought of as interchangeable, they can be defined as such:

  • MedPay takes care of any medical expenses for you and your passengers after a car accident.
  • Personal injury protection, like MedPay, covers all medical expenses, as well as any funeral costs, physical therapy, lost wages or any other general service you may need. This also tends to have a higher premium than MedPay.

Premium Coverage

This all-encompassing package often includes a variety of additional perks that cover a variety of auto needs:

  • Mechanical breakdowns
  • Rental cars and reimbursements
  • Roadside assistance
  • Accident forgiveness

No matter what kind of insurance coverage you choose, you may also want to consider having uninsured/underinsured motorist coverage as part of your plan.

Uninsured/Underinsured Motorist Coverage

Uninsured or underinsured motorist coverage, sometimes referred to as “no-fault coverage,” can be an extra layer of protection against drivers who don’t have adequate insurance to cover the cost of an accident in which they are at-fault. While 14 states require underinsured motorist coverage (22 require uninsured), Mississippi does not currently have any regulations in place regarding this, despite having one of the highest rates of uninsured motorists in the country.

Underinsured/uninsured motorist coverage is highly recommended, especially in Mississippi, for those who travel often, have longer commutes, or may not have good health insurance.

Car Accident? Make Sure You’re Protected

No one wants to wait until after a car accident to find out they don’t have the right insurance coverage. Vollor Law Firm, P.A. is one of Starkville’s top personal injury firms and will work with you to make sure that you receive the right compensation for any medical costs accrued from a crash. If you or a loved one needs representation, call (662) 269-6188 or fill out the contact form on our website to schedule a free consultation.