Auto Insurance Minimums May Not Be Enough

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    Marshall & Sterling Insurance is cautioning motor vehicle owners not to skimp when they buy automobile liability insurance, warning motorists about the potentially high costs they could suffer if they are inadequately insured for liability claims or lawsuits.

    In the current difficult economic climate, car owners may be tempted to buy insurance from providers who advertise "discounted" or ultra low-cost coverage. Often, these providers’ policies provide only the bare minimum amounts of liability insurance required by state law. Buying such policies may be a mistake, leaving some drivers at increased risk in the event of an accident. 

    • “People often forget that when you drive, you are operating a powerful machine that has the potential of doing serious harm to themselves and others,” noted the Chair of the Board for the Independent Insurance Agents & Brokers of America (IIABA) Christopher A. Brassard, CIC. “You are responsible for the safety of your passengers, your fellow drivers, other people’s property, pedestrians and yourself. If you don’t have enough liability insurance to cover the amounts you owe after a car accident, you will have to pay the remainder out of your own income and assets.”  

    New York State insurance law requires all auto insurance policies to provide liability coverage for one accident of at least $25,000 for injuries to one person, $50,000 for injuries to multiple people, and $10,000 for damage to other people’s property. “$25,000 will be spent pretty quickly if an injured person needs emergency surgery, a long hospital stay, and extended physical therapy,” Brassard said. “And $15,000 for property damage coverage won’t be enough to replace a wrecked 2010 Ford Focus, which is not the most expensive car on the road.”  

    Contact Marshall & Sterling today to schedule a review of your current auto insurance coverage to make sure you are adequately protected. 

    Click here to receive a free, no obligation quote for auto insurance.