3 Simple Steps to Understanding Auto Insurance Changes

Step 1: Know what you don’t know.

In all likelihood, your auto insurance policy has renewed since June 1, 2016 or is about to. You may be more or less aware of some changes that were made to the standard insurance coverage.

Accident Benefits were designed to help people get better and return to normal life after being injured in a motor vehicle collision.

Did you know, that the trade-off for having access to accident benefits is that the government has restricted access to the courts for injured people?

What do you need to know about auto insurance changes in 2010 and 2016?

1. Leaves you with far less protection than ever before.
2. Reduces the amount of coverage available to you.
3. Makes benefits that were previously standard, optional.

​Step 2: Learn how the auto insurance changes affect you

Statistically, automobiles are the second most likely source of injury that we encounter on a daily basis.

If you are injured in a collision, or are responsible for injuring someone else, the changes make it likely that:

1. There will not be enough money available to pay for the medical care and rehabilitation for you and your passengers; and
2. There will not be enough money to cover any personal and in-home care you need because of your injuries; and
3. There will not be enough money to cover any private nursing care or other high-level assistance you need because of your injuries; and
4. There will not be enough money to cover the lifetime care needs of anyone very seriously injured because of the collision; and
5. There will be no money to provide care for your children if you can no longer do it yourself; and
6. There will be no money to pay for the housekeeping and household chores if you can no longer do them; and
7. If the other driver doesn’t have insurance, or doesn’t have enough insurance, to cover all of the claims, you or someone else will not get the full value of your claim, and
8. If you are found to be at-fault for injuring your own passengers or someone else, your personal assets (home, car, income) could go to the person you hurt.

No matter how you buy your automobile insurance, whether from a broker, an agent, over the phone or online, the proper coverage is available to you.  In most cases, the cost for the best coverage available, both for Accident Benefits and Liability insurance, is around $200 per year.

When purchasing a television or other electronic, many people purchase the upgraded warranty.  Driving or riding in cars, or generally being around them, is one of the most dangerous things we do in a day.  Doesn’t it make sense to protect your health and your income at least as much as your TV?

Step 3: Take action now

Talk to your agent or your broker to discuss the coverage that makes sense for you and your family.  If you buy your insurance online or over the phone, please insist on speaking with someone who can help you with a quote for these coverages and to get them put in place. Ask the right questions to protect your loved ones and your assets.

As legal professionals, we see the aftermath of improper insurance coverage every day, and we don’t ever want to see it happen to you, your family, friends or loved ones.  The premiums will be pro-rated for the time remaining on your policy, so please, please make this a priority right now – don’t wait for when your policy is scheduled to renew.

Written by: Sara Jones, Case Manager  at Findlay Personal Injury Lawyers