Take a moment and imagine the 16 year-old -driver of a1990 Ford pickup sliding through a stop sign and t-boning your car. You did nothing wrong. It’s not your fault. The kid ran a stop sign. Under the rules of accident law its good its not your fault. The kid is obligated to pay your medical expenses, your lost wages, and to fix your car. in fact he is responsible to compensate you for all the damages he caused.
BUT, and its a big but, the inattentive kid only had the minimum limits ($25,000) of insurance. That is all the State of Idaho requires. An emergency transport, a day in the hospital, a small surgery, a couple weeks of missed work and you’ve lost way more than $25,000.00 in the wreck. And this kid, like most kids, can’t pay the expenses beyond his insurance. If you take him to court and get a big judgment, he just goes to the bankruptcy court and the debt goes away.
Be sure you have purchased the extra coverage offered under Idaho law to protect yourself and the loved ones who are with you in your car.
Take the time to review your own policy– now— before you are involved in a wreck.
Auto insurance is actually a complex thing and you can buy many different types of coverage that pays benefits for different reasons. The law only requires that you buy liability coverage. But that coverage just pays those you accidentally harm. We constantly recommend people purchase Uninsured Motorists as well as Underinsured Motorists coverages. These are coverages that protect you and those who ride in your car (usually your family and friends) in the event you are hit by an un/underinsured motorist like the kid. When you purchase underinsured coverage you essentially buy extra coverage that the low-limit insureds don’t have. This coverage is critical to your ability to be compensated for your losses.
Underinsured and Uninsured insurance coverage is actually pretty cheap. We always recommend buy the most you can reasonably afford.
Take the time now to review your insurance coverage and make certain that you have sufficient coverage in the event of a wreck with an uninsured or underinsured driver. There are other types of insurance that can help you like medical payments coverage. Read this blog post for more about auto insurance coverage available to you in Idaho.