Auto insurance presents a necessary evil. Driving without it is folly.
Driving a rolling two-ton metal box, disaster happens in a split second. Cars pose a rolling risk.
Excuses for shirking off insurance include “I always drive responsibly … if I get in an accident the other guy’s insurance will pay.”
Surprisingly, many accidents happen where neither party is insured. When that happens the faultless driver gets stuck with no car, no way to pay medical bills if hurt, and huge repair bills. Worse, car loans don’t go away just because the vehicle is wreckage.
Basic auto insurance provisions can address the above problems:
These are bare minimums. There are many other provisions beyond this summary.
One of the things included with the price of auto insurance is a legal defense. At some point after an accident you receive court papers, the other guy sues you. Should the other guy bring suit against you your own insurance company has a duty to legally defend you.
Call the agent immediately if sued because court papers have time sensitive deadlines. Under your own policy you have a duty to cooperate with your own insurer. This starts with putting legal papers in the hands of your own insurance company without delay.
Your insurance company’s job is to defend you up to the limits of your policy. Should the other driver win a court judgment in excess of your coverage, payment is your personal responsibility. Purchasing adequate coverage to protect all assets is vital. If there’s potential for a judgment against you over your coverage, then consult with and potentially retain your own attorney to defend you alongside the insurance company’s defense team for your own protection.
When accidents occur between drivers neither of whom have insurance, suing the other guy is not always a great option. If the other guy was irresponsible enough not to have insurance, it’s likely they have nothing to protect and a lawsuit would be pointless. A lawsuit against the uninsured other guy takes time, energy and court costs. Even if you win, there’s no point if the other guy has no assets or minimum assets protected by homestead or other legal exemptions.
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