Full Coverage Doesn’t Always Mean Enough Coverage
As personal injury attorneys, we handle cases for people who have been in an auto accident. Most people say they have full insurance coverage, but they don’t really understand what that actually means nor do they know how much and what types of coverage they have.
Basic Overview of Available Coverages
Full coverage typically refers to a combination of liability insurance, which covers damage to other people’s property or injuries to others in an accident you cause, and physical damage coverage, which includes both collision coverage (for damage to your vehicle in an accident) and comprehensive coverage (for non-collision-related damage to your vehicle, such as theft or vandalism).
Here is a short list of the basic coverages you should have on your policy:
- Liability insurance
- Bodily injury coverage
- Property damage coverage
- Uninsured motorist coverage:
- Underinsured motorist coverage
- Collision coverage
- Medical payments coverage
- Rental Car Reimbursement
Usually, the cost of increasing or adding these coverages is minimal per month. We recommend having at least $100,000 per person/ $300,000 per accident in liability coverage as we see more catastrophic injuries and higher medical costs than we did 25 years ago. If you are hit by someone else, you are able to stack that liability coverage of the defendant with your underinsured/uninsured motorist coverage.
Be Prepared
Minimum Coverage – Liability Coverage in the State of Virginia, is currently $30,000 per person/ $60,000 per accident. In January 2025, it’s going up to $50,000 per person/$100,000 per accident. We recommend having at least $100,000 per person/ $300,000 per accident in liability coverage as we are seeing more catastrophic injuries and higher medical costs than we did 25 years ago. Don’t forget, if you are hit by someone else, you are able to stack that liability coverage of the defendant with your underinsured/uninsured motorist insurance coverage.
Statute of Limitations – You have 2 years from the date of the accident to file a lawsuit against the at-fault parties, but it’s better to file immediately. Don’t wait until the end of the statute to call an attorney. Even if you want to handle the claim yourself, we recommend that you call an attorney to learn about your options are and the laws applicable to your case. The are no guarantees in the law that you are going to get what you think you deserve.
Higher Awards – Prepare yourself in case you cause an accident. If the person you hit gets an award of $60,000 and you only have $30,000 in coverage, you are personally responsible for the extra $30,000. Our law firm has rarely tried to sue an individual for this extra money, but an insurance company can and will. This rarely happens but it can happen, so be prepared.
Do You Know What Your Case Is Worth?
After an accident, the insured is entitled to collect certain “damages” caused by the at-fault party. This is where having expertise in knowing what your case is actually worth is helpful when negotiating with the insurance company. Many of these damages do have an actual dollar amount, but some don’t, and this is where a skilled attorney can really make a difference in the amount you are awarded.
Remember, if you’ve been in an accident, the insurance company you are dealing with is going to try and give you as little compensation as possible so it’s best to contact an attorney to review your case even if you think you want to handle it yourself. We are available 24/7 for free consultations. Contact us today: 757-787-8900.
Written By T. Wayne Williams
Mr. Williams is a native of the Eastern Shore and a 25-year resident of the Hampton roads area. He received his undergraduate degree from the University of Virginia and law degree from Regent University.
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