Automobile Insurance Policy must-Haves to ensure you’re fully covered.
California mandates that vehicle owners have an auto liability insurance policy in effect that covers the other party’s medical costs, lost earnings, and property damage. The minimum amount of insurance required is:
- $15,000 for each person harmed;
- $30,000 all persons harmed;
- $5,000 for property damage.
This is all you need to legally register and drive your car in California, but this scant coverage is probably not sufficient to protect you financially if you have an accident. An experienced California injury claim lawyer can advise you about how much coverage you need and how to file your claim.
What The Options For Additional Coverage?
Unless you’re driving an 20 year old car and have no assets, this probably isn’t enough coverage for you. You should seriously consider purchasing uninsured/under-insured coverage in case you suffer severe injuries caused by a driver carrying a minimum policy. If your car is valuable, it’s important to have comprehensive and collision insurance which will reimburse you for damage to your car. This coverage is valuable if:
- The damage costs more to repair than the policy limits of the car that hit you;
- A hit and runs and;
- An accident that you cause yourself.
Med Pay is also worth considering because it usually has no co-pays or deductibles and pays for services not usually covered by health insurance. It even protects you when you’re a pedestrian, a passenger in somebody else’s car, or when you’re using public transportation.
When Would I Need Additional Liability Coverage?
If you own a house or other property, you should opt for higher limits for liability in case you’re sued by somebody else. Most homeowners have at least $100,000 in coverage, and many choose to purchase umbrella policies of $1,000,000 or more. The best way to make sure you’re properly covered is to discuss your coverage needs with an insurance broker or an experienced California injury claim lawyer.