Every driver in Louisiana is required by law to carry minimum amounts of liability insurance coverage. Your liability insurance pays for the damages of victims injured in an accident that is your fault. If you caused the crash, your insurance company should pay damages to other parties up to your policy limits.
By law, you are required to have a minimum of $15,000 in bodily injury coverage to pay the bodily injury damages for one person. The minimum bodily injury coverage per accident is $30,000. In addition to bodily injury coverage, you must also have a minimum of $25,000 in property damage coverage. Failing to have the minimum insurance can result in several penalties.
Other Types of Insurance Coverage
Even though you may not be required to purchase additional insurance coverage, you might want to consider purchasing these three types of insurance coverage. Your insurance agent can explain the types of coverage in more detail, including the cost of each policy. However, as experienced New Orleans car insurance attorneys, we have seen first hand the benefits of these three types of optional insurance coverage.
- Uninsured and Underinsured Motorist Coverage
As discussed above, drivers in Louisiana are only required to carry minimum amounts of liability insurance. Sadly, even minor car accidents can result in damages that far exceed the minimum insurance requirements. Who is responsible for your damages if the amount of your claim exceeds the other driver’s policy limits? You are!
You could be liable for thousands of dollars in medical bills and other costs. Purchasing underinsured and uninsured motorist coverage can protect you if your claim exceeds the other driver’s policy limits. If an uninsured driver causes your accident, your uninsured coverage pays your damages. If the at-fault driver does not have sufficient coverage to pay your claim in full, your underinsured coverage pays the difference between the actual value of your claim and the other driver’s policy limits.
- Medical Payments Coverage
Even if another driver is responsible for the crash, you will not receive any money until the case is settled. However, medical bills continue to add up while you are being treated for your injuries and waiting to settle the claim. Medical payments coverage pays medical bills regardless of who was at fault for the crash. Medical payments coverage can provide the assistance you need while you recover from your injuries and fight to settle your claim for a fair amount.
- Collision Coverage
Liability insurance does not pay for your property damage. If you caused the crash, you are responsible for the cost of repairs to your vehicle unless you have collision coverage. If you have a lien on your vehicle, the lender will likely require you to carry collision coverage to protect itself. In addition to collision insurance, you might also want to purchase comprehensive coverage. Comprehensive coverage pays for damages caused by other perils such as explosions, floods, fire, vandalism, theft, or falling objects. Most lenders also require comprehensive coverage in addition to collision coverage.
Call a New Orleans Car Accident Attorney for a Free Appointment
We urge you to discuss your automobile insurance coverage with your agent to ensure you have sufficient insurance coverage to protect yourself, your family, and the investment in your vehicle. If you are injured in an accident, we urge you to contact our office to speak with an experienced New Orleans car accident attorney.
Call Attorney Fred Olinde of The Olinde Firm at (504) 587-1440 or 1-800-587-1889 to request a free consultation with a New Orleans accident attorney.