If you are a driver without adequate insurance coverage, you are potentially exposing yourself to huge financial risks. In the event that you are at fault in an accident, liability insurance covers damages, medical, and legal costs up to the liability limit you have in place.  Once the liability limit has been reached, you will be held responsible for all remaining expenses. Therefore, a lower liability limit may mean lower premiums and payments, but far less coverage if you are involved in an accident.

Some additional levels of protection, which you may want to consider purchasing, are discussed below:

  • Collision covers damage to your own vehicle in an accident.
  • Other-than-Collision covers fire damage to your vehicle, break-ins, vandalism or theft, as well as natural disasters (earthquake, hail, hurricane, flood, etc. – unless the vehicle is overturned, then it is considered a collision).
  • Medical payments’ insurance guarantees emergency and related medical payments, usually in the range of $5,000 to $10,000, for you, your passengers and other parties, regardless of who is at fault. It also covers you and members of your household in any accident involving an automobile, whether you are on foot, in a friend’s car, riding a bicycle, etc.
  • Uninsured motorist (UM) and underinsured motorist (UIM) coverage protects you and your passengers if injured in an accident with drivers carrying insufficient liability coverage.
  • Extra coverages include expenses for towing, labor, temporary replacement vehicles, etc. These are generally defined as add-ons or endorsements to your policy.

For more information on the limits and types of coverage that will best suit your situation, please call the Soucy Agency at 762.2218.