People frequently don’t realize how expensive collisions can be. While they may be aware that a crash could cost them thousands, they likely expect insurance to cover their expenses, especially if they are not at fault for the collision.
State laws in both Missouri and Illinois mandate liability insurance coverage. Drivers have to provide proof of insurance when renewing their registration, whenever stopped by police and after their involvement in a collision.
Unfortunately, even in scenarios where drivers have followed the law and carry proper coverage, the people affected by collisions may realize that insurance isn’t enough to cover all of their expenses.
Required minimums are too low
Mandatory liability coverage does provide a baseline amount of protection for everyone in traffic. However, the requirements in both Missouri and Illinois are low enough to leave significant coverage gaps after collisions.
Currently, drivers in Missouri have to carry $25,000 in property damage liability coverage. That may not be enough to replace a totaled vehicle. The minimum coverage for injury-related expenses is also likely to be insufficient if there are significant medical consequences after a crash.
Missouri requires that drivers carry $25,000 in bodily injury coverage to cover the costs of one injured party. Policies should provide at least $50,000 per collision in scenarios where more than one person sustains injury.
The bodily injury coverage requirements in Illinois are the same. The property damage coverage requirements are slightly lower, with Illinois motorists needing $ 20,000 in property damage coverage. People with serious injuries may not be able to fully cover their medical bills or lost wages with the available coverage, especially when the driver at fault carries the minimum amount of coverage.
What happens when insurance falls short?
As people look at their estimated losses and the coverage available, they may reach the uncomfortable conclusion that they may have significant uncovered expenses. At that point, they may need to consider filing a personal injury lawsuit.
They may be able to take direct legal action against the driver at fault for the crash. Unlike insurance claims, which are subject to policy limits, lawsuits can provide full compensation for the total losses caused by a crash. In some cases, injured people may even be able to take legal action against third parties, ranging from vehicle manufacturers to employers.
Having support while totaling up the costs of a recent motor vehicle collision in Illinois or the St. Louis area could help people evaluate their options for compensation. When insurance isn’t sufficient, legal action may be necessary for the protection of those involved in wrecks.