4 Reasons Why You Need More Toledo Car Insurance (Part 1)

The required Toledo car insurance is fine, but here are 2 of the 4 reasons why it’s not enough.

Don’t be in the dark about the coverages for your Toledo car insurance.

To be able to drive in Ohio, you have to have the following minimum Toledo car insurance:

• $12,500 of bodily injury coverage to pay for the injuries you cause to one person
• $25,000 of bodily injury coverage to pay for all of the medical expenses for two or more injured people in a car accident that you cause
• $7,500 for property damage that you cause with your vehicle

And as of December 23, 2013 these required Toledo car insurance coverages will increase to:

• $25,000 of bodily injury coverage to pay for the injuries you cause to one person
• $50,000 of bodily injury coverage to pay for all of the medical expenses for two or more injured people in a car accident that you cause
• $25,000 for property damage that you cause with your vehicle

While the increase in these required coverages is a good start it is not nearly enough to protect you if you are in a car accident. In part one of this two part article, we will go over 2 of the 4 reasons why you need to talk to your Toledo car insurance agent about carrying more coverage than what is required by the State of Ohio to drive.

Reason #1: The High Cost of Medical Expenses and Lawsuits

While the required $25,000 in bodily injury liability coverage is good enough to cover minor or medium injuries that you cause, it is nowhere near enough for anything more than that. Yes, major injuries or even fatalities from car accidents are not as common as less serious injuries. However fatalities and serious injuries still do happen.

What if you are the one that caused one of these few fatalities or serious injuries? That $25,000 is nowhere near enough to cover an extended hospital stay, physical therapy, and medication. And if you kill someone, you have all the costs associated with the care and burial of a deceased body.

Reason #2: Lawsuits

Once an injured claimant has reached a point that they finish their medical treatment, a pain and suffering settlement is usually offered. If this settlement is accepted then the insurance company pays the claimant and the claim is closed. If the insurance company and the claimant can’t agree on a settlement then it goes to court.

If a person dies because of a car accident that you cause, you can almost be sure to be taken to court by family members for a wrongful death lawsuit.

In both cases the the court and attorney expenses are usually covered by your insurance policy. However, if you only have the $25,000 in bodily injury liability coverage it will most likely already be maxed out by the time you even get to court. Which means you will have to pay any settlement, court fees, and attorney fees that the court approves in their judgment out of your own pocket.

(Continued in Part Two…….)