Handyman Insurance – Choosing the Right Handyman Auto Insurance Coverage
Choosing the Right Insurance Coverage: Particular states only require motorists to purchase liability policies that only cover the losses caused by the policyholder to another party and at shallow limits. For example, according to the California Department of Insurance, motorists must only carry a liability policy with minimum limits of $15,000 for bodily injury to one person, $30,000 for bodily injury per accident, and $5,000 for property damage.
Anybody who knows what a weekend in hospital costs is aware that $15,000 will not cover the costs; purchasing higher limits can protect policyholders from being held liable and sued for any amount that exceeds the policy limits. States such as Florida require motorists to maintain Personal Injury Protection (PIP) in the amount of $10,000, which covers the injuries of the insured regardless of who is at fault for causing the traffic accident; just as mentioned, this amount can quickly be exhausted which can lead to the policyholder left with hefty medical bills that may only be recovered through litigation.
Higher limits can be purchased and may be worthwhile following a severe injury. This type of coverage is voluntary in many states and could be beneficial, especially to those who do not have a healthcare plan. Uninsured and Underinsured Motorist coverage is not made mandatory in many states, and some states will require insurance providers to offer this protection but give consumers the right to waive it. Unfortunately, many motorists choose to waive it to save a few dollars on their premiums, but this is a valuable option on a policy.
If an uninsured driver strikes a motorist, does not have coverage, or is a hit and run victim, this protection will kick in and compensate the policyholder, giving good peace of mind following an accident. Although paying as little as possible is tempting when purchasing a policy, choosing less protection can be far more costly.