If you are selecting an insurance liability limit in Toledo on a limited budget, the three most important things to be concerned about are liability limits, UM/UIM limits, and MedPay limits. Even among these three, you want to always make sure that you have the highest liability limits you can afford. At a minimum, make sure you have liability and UM/UIM limits of $100,000 each person/$300,000 each accident.
The rationale is that the higher your liability limits are, the less chance you have of being sued and potentially having to declare bankruptcy. If you are shopping for car insurance and your budget allows you to spend a bit more, you will want to make sure that you have liability and UM/UIM limits of at least $250,000 each person/$500,000 each accident. You should also have significant medical payments coverage of at least $10,000 for each person. In addition, you should buy an umbrella policy that includes UM/UIM coverage. Speak with an experienced car accident lawyer about selecting an insurance liability limit in Toledo before changing your plan.
People often think that medical insurance can cover medical bills if they are in an accident. However, what these people often fail to realize is that medical insurance only covers medical bills. It will not cover someone if they cause an accident and are sued by the other driver or if their injuries require taking time off work. Auto insurance will cover these expenses and lost wages, while medical insurance will not.
If your budget allows, you should also consider purchasing useful benefits that cover the most common losses. These benefits include zero deductible, glass coverage, AAA, and first accident and ticket forgiveness.
However, people should keep in mind, these optional benefits are optional for a reason. They are luxuries even though they happen most often. Your agent will be able to explain the ins and outs of these benefits, which will allow you to make an informed and educated decision.
The cost of upgrading from a bare-bones policy can be as little as six or seven dollars per month. When someone considers the added security and peace of mind that additional insurance can provide for your family, they tend to make the switch. If you would like a list of reputable insurance agents, Toledo accident attorneys can provide that to you. Contact a skilled car accident attorney to discuss selecting an insurance liability limit in Toledo.
Charles E. Boyk Law Offices, LLC