Don’t Drive Another Mile Without Knowing This Fact About Insurance

By Ben Glass, Esquire

Benjamin W. Glass and Associates

. https://www.benglasslaw.com/

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Don’t Drive Another Mile Without Knowing This Fact About Insurance

Did you know that in Virginia you are not required to have car insurance to operate a vehicle?  You can pay the state a few hundred dollars in exchange for driving around as an uninsured driver.  Most of you are probably thinking, “Well, that’s just a crazy notion.  Of course, I want car insurance.”  And you would be right.  You do want car insurance.  The issue, however, is in the amount of car insurance that you are carrying.

Here’s a quick lesson about car insurance:  If you are in an accident and the other driver is at fault but doesn’t have enough liability coverage on their own car insurance to cover your medical bills and property damage, your own policy should kick in under the underinsured/uninsured motorist coverage to replace that value.

Next, here’s a quick warning about medical bills: Time spent in the ICU for your recovery can cost you a lot more than you expect.  In Virginia, most drivers only have $100,000 of coverage.  You could burn through that in a matter of days if the injury is severe.  If both you and the other driver are only carrying policies worth $100,000, then you will be stuck with a pile of medical bills.  Often, the other person simply can’t afford to pay the extra out of pocket and will go into bankruptcy, leaving the bill at
your feet.

I always recommend to people with whom I speak that they purchase at least $500,000 in uninsured/underinsured motorist coverage.  Want to know how much extra this will cost you on your policy?  I’ve seen people get it for as little as $50 per year.  And I’ve never heard of it costing more than an additional $200 per year.  Your individual rate will depend on your driving record and a number of other factors, of course.  The price–versus-coverage ratio is wildly in your favor.  You’ll be able to rest easier knowing that you and your family will be fully covered if someone hits you while driving without insurance or with too little insurance to take care of your injuries.

I recently spoke with a group of active and retired federal employees in Alexandria.  They had the opportunity to ask some really great questions about car insurance, which you may have yourself.  The more you know about how you can protect yourself and your family, the better off you are. So don’t hesitate to ask your insurance agent as many questions as you can so that you understand your benefits fully.