The Importance Of Liability Insurance

The Importance Of Liability Insurance

two-car collision

 

Whether you’re the at-fault or the injured party, being hurt or losing a loved one in an accident can have far-reaching physical, emotional and financial consequences. At Pepper & Odom, P.C., our knowledgeable personal injury attorneys have decades of experience in handling all types of accident cases and can advise you on the best way to protect yourself with liability insurance.

How Much Liability Insurance Do You Need?

In both Alabama and Mississippi, all drivers are required to carry liability insurance to help pay for any damages or injuries that may be caused to others in a car accident.

Both states require your liability coverage to meet the following minimums:

  • $25,000 for bodily injury or death per person
  • $50,000 total for bodily injury or death per accident
  • $25,000 for property damage

Most drivers choose to buy a car insurance policy to meet these requirements, but in Mississippi, technically you can also post a bond for minimum coverage amounts or make a cash or security deposit equal to the minimum coverage amounts. Our auto accident attorneys do not recommend this course of action to protect yourself financially in case of an automobile accident.

It’s vital to consider purchasing additional liability on your auto insurance policy — if you’re involved in a serious accident, an individual’s medical expenses could easily exceed $25,000. If costs for others’ injuries and property damage exceed your coverage limits, you can be liable for difference, which means that your assets can be seized to pay for medical bills, car repairs and other damages sustained by the injured party. Making sure you’re covered for an amount equal to the total value of your assets such as your home, car, savings and investments will ensure that you have adequate coverage should you be involved in an accident.

UI/UIM Insurance

Purchasing uninsured/underinsured motorist coverage is also a good idea for many. This additional coverage kicks in to pay for medical expenses and other accident-related costs for you, members of your household or passengers in your vehicle if you are involved in an accident with an uninsured or underinsured driver.  

Our experienced attorneys can advise you on the types and amounts of insurance that will best meet your needs and protect your interests and assets. We also provide counsel on the amounts of liability insurance you should have for your home, investment property, business, and medical, dental or legal malpractice practice.

Contact Us

Whether you are seeking advice about liability insurance or you’ve been injured in an accident, our experienced legal team at Pepper & Odom, P.C., can help. Contact us online to schedule a free consultation, or call 601-202-1111 in Mississippi. In Alabama, call 888-498-4516.