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Guide to Buying Auto Insurance

Legal

By Carole DiMaggio and LLoyd Rosenberg, Esq.


Effective April 1, 2008, Massachusetts auto insurers are presenting new competitive packages and rates. These rate changes do not change what coverages are required and what coverages we recommend. You may have enough insurance to meet the minimum state compulsory requirements, but are you sufficiently covered in the event of an injury? 

At the Personal Injury Law Center, we believe you should know the immediate changes you need to make in your policy to insure that you and your family are adequately protected. Compare our suggestions below to your automobile coverage selections page:


PART 2
PERSONAL INJURY PROTECTION (PIP)


Personal Injury Protection, or PIP coverage, is coverage for you, members of your household, passengers or pedestrians who are injured in auto accidents. It pays for medical bills, lost wages, and replacement services.


You should have full coverage of $8,000, with no deductible. The money you save with a deductible for you or members of your household does not outweigh the inconvenience a deductible will cause, and you could lose up to $8,000 per person in valuable benefits.


PARTS 3 and 12
UNINSURED / UNDERINSURANCE


This is the most important coverage in your policy!  It provides you and household members with the assurance that you will be covered for your injuries, up to the limit you select, even if you are injured by a hit-and-run driver, an uninsured auto, or someone whose limits are not enough to cover all of your damages.


You should have coverage of $250,000.  If you can’t afford that amount, you should have a minimum of $100,000.  If you are seriously injured and the at-fault driver only has minimal coverage, or no coverage, this coverage will protect you and your family.


PART 5
OPTIONAL BODILY INJURY


This coverage pays for injuries to others caused by your negligence or the negligence of those operating your vehicle with your permission.


You should have coverage of $250,000.  If you can’t afford that amount, you should have a minimum of $100,000.  This isn’t just a good idea for those who have substantial assets. Even if you’re not worried about being sued, there’s another important reason to have higher limits here. It allows you to purchase higher uninsured and underinsurance limits. (Discussed separately).


PART 6
MEDICAL PAYMENTS


This part provides you and members of your household with additional coverage for medical expenses.


You should have $25,000 (and a minimum of $5,000) in MEDPAY coverage. Even if you have health insurance, the small premium charged for this coverage makes it a great buy. It allows you to reserve PIP for lost wages and other non-medical expenses; it can cover co-payments, deductibles and non-covered treatment, (such as a chiropractor or extra physical therapy); and unlike health insurance benefits, none of this has to be paid back out of any settlement you obtain for your claim.


PART 7
COLLISION COVERAGE


This covers damages to your car, regardless of who is at fault.


Many people have $500 deductibles on their cars.  You should consider a $1,000 deductible (with a waiver of deductible provision) as a good way of saving premium dollars. The savings can be used for purchasing some of the other injury-related coverages described herein. If you drive safely, you probably won’t need this coverage. If it’s the other driver’s fault, you can get a full recovery from their property damage coverage.  Another alternative is to consider limited collision coverage. It’s more restrictive than collision coverage, but it’s also less expensive.


We believe your injury, whether large or small, deserves serious attention. Our experienced and concerned attorneys and staff are available to assist you in all aspects of your case. We will do our very best to make sure that you receive full and fair compensation for your injuries.


We strive to provide zealous representation in all matters we handle, without compromising our integrity.  That is why we have been a leader in the community for over 75 years.


If you or someone you love has been injured and would like more information or to schedule an appointment, please call (800) 245-1023.

 



Carole DiMaggio and LLoyd Rosenberg, Esq.

 

 

View all articles by Carole DiMaggio and LLoyd Rosenberg, Esq.


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