DO YOU HAVE ENOUGH AUTO INSURANCE
What is "full" coverage vs "liability only"? "Liability only" means you are only insured to cover the damage to the other driver when the accident is your fault. You will not be covered to repair your own auto damage or to pay any of your personal injuries. "Full" coverage basically means that you have medical payments coverage in Ohio or PIP in Kentucky as well as Uninsured & Underinsured Motorist Coverage. Uninsured coverage protects you if you are hit by an uninsured driver. If you are injured as a result of an uninsured driver, we will make a claim through your own auto insurance. You have to pay extra for this coverage but it is worth it considering how many people are driving around without any insurance at all. In these cases, your own auto insurance company will pay to repair your vehicle and pay your medical bills and lost wages up to the amount of coverage you purchased. Then, your auto insurance company will make a claim against the uninsured driver to get reimbursed for the amount they paid out to you. Underinsured coverage protects you if you are hit by another driver and that driver does not have enough insurance to cover your damages, i.e., medical bills, lost wages & pain & suffering. This is also important considering that drivers only have to purchase $25,000 in coverage. If you are seriously injured, your claim could easily need more than $25,000 to compensate you for your damages.
Minimal policy limits of auto coverage in Ohio and Kentucky are $25,000, which means that if you cause an accident, your auto insurance company will cover up to $25,000 of the other party's damages. A standard auto policy would be $25,000/$50,000, which means $25,000 per person or $50,000 per accident. This is important to know considering there could be multiple people injured in one car. In that case, your auto insurance will only pay out $50,000 total to all the injured people in your vehicle and the other vehicle. If those people have damages in excess of $50,000 they could sue you personally. You can purchase more insurance if you choose. Policies are typically sold in $25/50K, $50/100K and $100/300K. You can also purchase umbrella insurance which provides excess insurance that can cover your autos and home, including some other general liability that can protect you. You should also be aware of collision and comprehensive coverage. Collision coverage covers your vehicle if you run into something, i.e., a pole. Comprehensive covers your vehicle against other damage that is not your fault, i.e., when a tree falls on your car.
I am contacted by many people that were in car accidents wherein the other driver did not have any or did not have enough auto insurance. When that happens, we have to make an Uninsured or Underinsured claim against your own auto insurance. Please make sure you protect yourself and your family. If you have any questions, you can call me for free at 859-261-1111 or email me at Jackson@christopherjacksonlaw.com.