Limited Auto Insurance Might Cost You More in the Long Run

What people with limited auto insurance do not realize is that in the case of an accident where they are at fault, their insurance may not be enough to escape extra bills. If an at fault driver only has a fifty thousand dollar policy and is involved in an accident that totals a car and sends the victim to the hospital, it is likely the cost will exceed that.

Any of the extra costs that the victim incurs throughout their hospital stay, as well as replacing the car are considered to be payable by the at fault driver. In many cases where the driver’s insurance was unable to cover all of the expenses the victims were able to sue for the rest of the money. Now not only will the at fault driver have to pay the lawyer’s fees they are also likely to be in debt. The victim could come after their car, their house or savings accounts.

Before deciding to purchase the cheapest form of auto insurance look into the different downsides to being frugal with insurance.

 

Filed Under: Car Policy NewsFeatured

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