We spend a lot of money on insurance to protect our homes, vehicles and other forms of property. This is to protect you from financial and personal injury due to an automobile accident.

When you buy automobile insurance, you should spend the few extra dollars to get the highest premiums you can afford. In addition, you need to go to a reputable company. The substandard companies that are very cheap normally, in my opinion, do not pay out in a manner which is professional. Some companies do wrongly deny claims they should not deny.

In most states there are liability minimums that all drivers of the vehicle must carry. In Illinois, you need at least twenty thousand dollars in liability insurance. This means if you hit someone and they sue you, you are only covered for $20,000.00. As we all know, a hospital visit for a few days can far exceed $20,000.00. Therefore, this is not enough coverage.

My opinion is that you should try and obtain a total of one million dollars coverage in liability, as well as uninsured/underinsured motorist coverage. You can do this by first purchasing primary coverage, normally $100,000.00 for both liability and uninsured/underinsured motorist. If you have a high net worth, you should increase it to a minimum of $250,000.00.

Under your motorist insurance, you also have what is called the Medical Payment provision. This states in general that the insurance company will pay 100% of the medical bills that are reasonably related to the automobile accident. If you get $100,000.00 in Med Pay coverage, you can be rest assured, it will cover a substantial amount of the medical bills you incur, and it would be even better than your own insurance, because most people carry co-payments where they have to pay money out of pocket before the coverage kicks in.

Medical payments can cover not only medical bills, but in some situations, lost wages, loss of services and funeral expenses. For Med Pay coverage, you do not have to prove any fault, even if you caused the accident and you were injured. You would be covered as to the maximum policy limits you purchased. In reality, in my opinion, the least important is collision/comprehensive. This coverage only covers damage to your vehicle that is not covered by another driver’s policy. Comprehensive covers theft or damage from such things as fire, wind, falling trees or hurricanes.

I recommend that if you do not want to pay too much for collision, you should get a higher deductible, but you should have enough to cover the cost of a new vehicle.

The liability insurance covers the other person who may be injured as a result of your fault in an automobile accident. Most of the time in my practice and in most plaintiff’s personal injury claims, the injured party takes the maximum amount of the other party’s coverage.

If you are injured in an auto accident call David K. Kremin & Associates at 1(800) ASK-A-LAWYER or 1(800) 275-2529 and you will be represented by a lawyer with at least 20 years of experience. We accept calls 24 hours a day, 7 days a week.