Everyone is looking for ways to save money, and when choosing auto insurance coverage, many people opt for the minimum state requirement. In Nevada the requirement is 15/30, or “minimum coverage of $15,000 for bodily injury or death of one person in any one accident; $30,000 for bodily injury or death of two or more persons on any one accident; and $10,000 for injury to or destruction of property of others in any one accident.” (dmvNV.com) If the state is only requiring that much from you, you can assume that’s all the coverage other drivers on the road have.
Will 15/30 be enough?
The National Safety Council estimated the average cost of motor vehicle injuries for 2009:
The calculable costs of motor-vehicle crashes are wage and productivity losses, medical expenses, administrative expenses, motor vehicle damage, and employers’ uninsured costs.
Property Damage Crash $8,200
Possible Injury $12,400
Non-incapacitating Evident Injury $21,900
Nonfatal Incapacitating Injury $67,800
Death $1,290,000
If you are involved in an accident, and sustain a ‘non-incapacitating evident injury,’ minimum auto insurance may not be enough coverage for all of your expenses — even “full coverage” may not be enough protection. If your situation allows it, opt for Uninsured and Underinsured Coverage and Medical Payments Coverage.
Uninsured and Underinsured Coverage helps when the other driver involved does not have any insurance at all or does not have enough insurance to cover the costs of the accident damage and injuries, like if they only have the 15/30 minimum. Uninsured and Underinsured coverage also covers hit and run incidents where the driver at fault can’t be found. It will also will help pedestrians and bicyclists who are hit by a vehicle.
Medical Payments Coverage is like having a health insurance policy tied to your auto insurance. Any medical bills for accident related treatment are covered up to a certain amount. Medical Payments Coverage covers the driver and all passengers in the vehicle. For example, if your benefit amount is $5,000, it covers $5,000 per person in the car. Medical Payments Coverage will also help pedestrians and bicyclists who are hit by a vehicle.
Talk to your insurance company about what coverage you already have, and consider adding Uninsured and Underinsured Coverage and Medical Payments Coverage to your policy. Adding a few dollars to your insurance bill could save you thousands later on.
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If you, or someone you know, has been injured in an accident, please contact the David Francis Law Firm for your free case consultation.
