Auto Insurance Coverage Everyone Should Have, Featured on FOX43
Every year, more than 2 point 5 million Americans end up in the emergency room because of car accidents. In Pennsylvania alone, car accidents injured more than 80*thousand people last year and killed another 12*hundred.
Injuries from auto accidents can have a catastrophic impact on the lives of accident victims and their families. From medical bills, to lost wages, to pain and suffering that can last for years – it all adds up. And without the proper auto insurance, a car accident can leave you in financial peril, even if it wasn’t your fault.
Attorney Anthony Georgelis stopped by the FOX43 studio to talk to the morning anchor team about the basic coverage all drivers should have on their policy. View the segment below or read the transcript for this very important information.
Auto Insurance Coverage Everyone Should Have
Q: Nobody likes to pay for insurance…and in the case of auto insurance, we want something that’s affordable and that will protect us, but you say there are a lot of us not striking that balance effectively, right?
A: Yes, we all want to save money, but not at the expense of our long term health and financial well-being. We see time and time again, people with devastating and costly injuries who are in a very bad spot…all because they wanted to save a few bucks and choose a policy with inadequate coverage.
Q: So, let’s talk about that coverage. What would you say is the most important thing we should all have on our policies?
A: One of the first choices a driver will make when selecting a car insurance policy is whether to select full tort or limited tort coverage. With limited tort, you may only seek compensation for economic, or quantifiable losses. These include out-of-pocket medical and other expenses and income loss.
With full tort, however, you are eligible to pursue economic and non-economic damages. The most commonly known form of the latter is pain and suffering, which, many times, is the driving force behind the value of a claim.
Q: It seems like it’s really something to think about. So, limited tort really does leave people vulnerable. Are there any exceptions to that?
A: There are a few exceptions, which breach the threshold from limited into full tort.
If someone injured has limited tort but has suffered serious bodily injury, which is a legal term defined by Pennsylvania case law; if the driver who caused the accident is convicted of DUI or accepted into the ARD program; if the victim was a pedestrian or riding a bicycle when hit by a driver; if the injured person was a passenger in a company vehicle or bus; if the at- fault driver does not have car insurance; or, if the at-fault driver’s car is registered in a different state.
Even though these exceptions exist, you are essentially taking a big risk by maintaining limited tort coverage.
Q: So, what other coverages are optional that we really should all have as part of our auto insurance policies?
A: Three things:
- Underinsured and uninsured motorist coverage—underinsured motorist coverage protects you against drivers who are inadequately insured; and uninsured motorist coverage protects you against drivers without insurance at all. I recommend that you carry at least $100,000.00 in uninsured and underinsured motorist coverage, in light of all the drivers on the road with little or no insurance.
- Stacking—this allows you to add together, or “stack,” the coverages between the vehicles that are insured. For instance, if you have $50,000.00 of underinsured motorist coverage on each of three vehicles, you will have access to $150,000.00 of underinsurance.
- At least $50,000.00 in medical coverage—the state minimum is $5,000.00, but I recommend getting at least $50,000.00. This can increase the amount of your ultimate recovery by reducing how much you must pay back your health insurance carrier.
Q: We covered a lot here… will your firm will review someone’s auto insurance policy to make sure they are properly covered?
A: Absolutely. We want to make sure everyone is protected in the event of an accident, and we will review anyone’s policy, free-of-charge.
Speaking of accidents—if you or someone you know is ever involved in a motor vehicle accident or hurt on the job—Call Georgelis First at 1-800-hurt-now.