Insurance companies offer a variety of coverage options to protect you from a financial loss in the case of an automobile accident. Below we’ll touch on three common types of coverage so you can make an informed decision on what options you choose.
Automobile liability insurance protects a driver who harms someone else through bodily injury or property damage. This insurance only covers injuries or damages to third parties, not you or your property. Since this insurance is required by law, not purchasing it should never come under consideration.
In Arkansas, the drivers are required to have the following minimum coverage limits:
- $25,000 for bodily injury, per person
- $50,000 for total bodily injury, per accident if multiple people injured
- $25,000 for property damage, per accident
Uninsured & Underinsured Coverage
If you’re in a car accident that wasn’t your fault, typically the other driver’s insurance company will be responsible to make things right. But if the person that hit you doesn't have car insurance, or not enough of it, uninsured or underinsured motorist coverage will kick in to pay for out-of-pocket damages and medical expense.
With about one in eight drivers being uninsured, according to the Insurance Research Council, this is coverage you need to consider to protect you and your family.
Medical Payments Coverage
This insurance covers you and your passengers by paying your remaining medical bills, to a limit, after standard health insurance limits are exceeded. In addition to covering funeral expenses, this type of coverage actually covers a wider variety of situations than standard car insurance, including…
- If you're injured as a passenger in someone else's car
- If you're struck by a car while walking or cycling
- If you require dental care due to an accident
Even if you have excellent health insurance, this type of insurance can prove useful as health care costs skyrocket. Plus, the insurance covers the medical bills of your passengers, who might need extra help with medical expenses after an accident.
Not everyone can afford the top-of-the-line policy provided by their car insurance company. But by focusing on the areas where you need added protection from financial liability, you can give your coverage a targeted boost.
If you or a family member was involved in a big-truck traffic accident, please contact Duncan Firm as soon as possible. We can assess your case at no cost or obligation.