blog home Insurance Automobile Insurance Policy Limits – What Could A Deep Review Reveal?

Automobile Insurance Policy Limits – What Could A Deep Review Reveal?

By Newport Beach Personal Injury Attorney on February 10, 2017

Many people use the Internet to purchase automobile insurance, but often they don’t really understand what they are buying and are just basically price-shopping. Others rely on their insurance agent to suggest the appropriate limits to carry but a careful and detailed review of your policy may save you dollars or–for not much more money–may give you a lot more protection.

Liability Coverage

The minimum policy limits everyone is required to carry in California are 15/30 liability and $5,000 property damage. What this means is if you cause an accident, your insurance company will pay up to $15,000 for each person injured in an accident you caused; and up to $30,000, if more than one person was injured in an accident you caused.

You may think you are the most careful driver and that you would not cause an accident, but accidents are often just that–accidents. Have you ever had a pedestrian step off the curb into an intersection, just as you are making a right turn and you saw them at the last minute? Or, what about someone who walks behind your car, just when you are backing out of a parking space?

Most of the time, $15,000 is not an adequate amount to cover the medical expenses of even the most minor injuries. When there are additional multipliers, or other people in a car have been injured, $30,000 would have to be divided among all parties reducing the amount available to compensate any injured parties.

When your insurance limits are inadequate to compensate all injured victims, the next step is the injured party will look to you personally for compensation. Do you own a home with equity? Have a savings account or other valuable assets? You may want to consider increasing your insurance to at least 100/300, if you own a home. The difference in premium is usually not much higher, yet you are obtaining much more needed protection.

Consider the $5,000 minimum property damage coverage. Even minor vehicle repairs can run $3,000 or greater. What if more than one car is involved in an accident? What if the other party’s vehicle is totaled? Take a moment and just look at all the vehicles on the road. It’s just common sense none of them be replaced for $5,000? Again, increasing your property damage limits to $25,000 or $50,000 may not cost that much more, but additional coverage will no doubt provide greater peace of mind.

We will address other insurance coverages in our next newsletter. Stay tuned!

Related Articles:

Posted in: Insurance

So, go on - call (888) 752-7474, or send over our free case
review form, even if you're not sure. We're here to help.

Free Case Review

We’re here to help.

We're sorry about what happened to you. It shouldn't have, and that's why we do what we do - go after justice for people who were injured by someone else. You're not alone. Reach out, engage with us, and contribute your expertise to the process. This is a relationship - we can learn just as much from you as you can from us!

After all, it's your needs we're fulfilling. If you want a great Orange County personal injury attorney who you can trust, contact Allen, Flatt, Ballidis & Leslie.

Se Habla Español مکالمه به زبان فارسی

Get In Touch

Allen, Flatt, Ballidis & Leslie
4400 MacArthur Blvd Ste 370
Newport Beach, CA 92660
Toll Free: (888) 752-7474
Local: (949) 752-7474
Email: contactus@allenflatt.com

Disclaimer: The information on this site is not, nor is it intended to be, legal advice. You should formally consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Please be advised, however, contacting us, submitting a case to us, and/or discussing your case with us does NOT create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.

©2019 Allen, Flatt, Ballidis & Leslie. All Rights Reserved. Website Design, SEO and Legal Internet Marketing by: SLS ConsultingSLS Consulting