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California Auto Insurance Information: How Much Auto Insurance Should You Carry?

In this economy, more and more people are trying to save money wherever possible. For some, this means electing to carry the minimum automobile insurance required by law, or even carrying no insurance at all. With growing unemployment numbers, the Insurance Research Council predicts the national uninsured rate will also climb, up to 16.3 percent in 2010.

The purchase of automobile insurance is important in protecting yourself, your family and your financial assets. As personal injury lawyers, we are frequently asked how much insurance coverage one should purchase. The answer is simple: buy as much as you can afford. And always buy uninsured/underinsured coverage.

If you live and drive a car in California, you probably know that you must show proof of insurance when you register your vehicle or renew your vehicle registration. This is because California, along with every other state in the U.S. except for Wisconsin and New Hampshire, has a compulsory liability insurance law; by law you must carry proof of financial responsibility.  However, liability insurance is not the only type of coverage you should purchase.

What Is Uninsured and Under-Insured Coverage?

Equally important as liability insurance coverage, uninsured and underinsured motorist (UM/UIM) coverage protects you if you are injured by an at-fault driver who either does not have any insurance, or does not have enough insurance to cover your injuries.  UM/UIM coverage also protects you if you are injured in a hit-and-run accident. The amount covered by a UM/UIM is subject to your insurance coverage limits – how much you decide to purchase. 

How Does UM/UIM Coverage Work?

Example:  You have an UM/UIM policy limit of $150,000.  You are seriously injured in an accident with $100,000 in medical bills. The driver at fault for the accident only had $30,000 in liability coverage. You would collect $30,000 from the at-fault driver’s insurance company. Your insurance company would compensate you the remaining $70,000.  If you did not have the UM/UIM coverage, you would only receive the driver’s liability insurance limit.  If the driver had no insurance at all, and you did not have UM/UIM coverage, you would not receive any insurance compensation.

How Much UM/UIM Coverage Do You Need?

Injuries sustained in an accident can cost hundreds of thousands of dollars. With growing numbers of uninsured motorists and motorists with only minimum liability coverage, it is in your best interests to protect your family with UM/UIM coverage – as much as you can afford. Although you can always take a case to court, the average defendant unfortunately has few assets and collecting a judgment can be difficult to impossible.

More Information

For more information or if you have been injured and would like to schedule a free consultation with a California personal injury attorney, contact Estey & Bomberger at (800) 925-0723 or fill out our case assessment form.

Case Results

$30 million verdict for sexual abuse
$17.5 million products liability case
$14 million brain injury case
$13.8 million aviation accident case
$8 million refinery accident case
$6 million settlement for drunk driving accident
$5 million brain injury and wrongful death case
$3.4 million motorcycle accident case
$3.2 million bus accident case
$2.9 million brain injury case
$2.6 million spinal cord injury case

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