By law, you are required to have liability insurance coverage in Oxford, MS. However, many people only carry the minimum amount required, or a lower amount than they need. Here at Tackett Insurance, Inc., we encourage people to increase their auto coverage amounts over the state minimum amount. Here are a couple of the reasons why you should increase your auto insurance coverage.
Most People Do Not Have Enough Auto Insurance Coverage
One of the reasons why you should increase your auto insurance coverage is because most people do not have enough coverage. The state requires you to purchase liability insurance, which covers medical expenses for the driver and passenger in the other vehicle, and damage to their car. It does not cover damage to your car or your medical costs. On top of this, the minimum required often is not enough to cover medical expenses for a severe accident or cover damage to a car that has significant damage.
Having the Right Amount Protects Your Financial Assets
The second reason you should increase your auto insurance coverage is that having the right amount of coverage helps to protect your financial assets. If your auto insurance policy does not provide enough coverage to pay for the damages you caused in an accident, the other driver and passengers can come after you. They can file a lawsuit against you to recover money. This can hurt you financially. Having enough auto insurance coverage helps to protect you from this.
Now is a great time to find out if you have enough auto insurance coverage to cover you in case of an accident. Here at Tackett Insurance, Inc. serving the greater Oxford, MS area, we can help you determine how much coverage you need and find you the right policy for your needs. Contact us today to get started.
According to Mississippi laws, all drivers must have at least the minimum liability insurance. However, it is wise to buy additional coverage for better protection. Auto insurance protects you from financial losses in case of insured risks. Reach out to Tackett Insurance, Inc. for your auto insurance needs from Oxford, MS to Memphis, TN.
Auto Insurance Coverage Options
Liability insurance protects you from financial losses if you are legally liable for injuries or property damage to others. It does not cover injuries to you or damages to your car. Bodily injury liability helps you pay for the medical fees, loss of income, or funeral costs of another person in case of an accident where you are at fault. Property damage liability helps you to pay for the costs of repairing or replacing their property including their car, signposts, or home. If they sue you, your liability coverage compensates you for all legal charges that you incur.
Your collision insurance coverage compensates you for the costs of repairing or replacing your car after an accident. Your car needs to have collided with another car or object for you to claim this policy. You may also get compensation if your car rolls or falls over. Your collision insurance does not cover you for injuries to other people or damage to their property.
Uninsured/Underinsured Motorists Insurance
Even though car insurance is a requirement in Mississippi, some drivers may have insufficient or no insurance. If you get into an accident involving such drivers, they may not have a way to pay you. In such instances, you may claim your uninsured/underinsured motorists insurance. The policy may also cover you in case of hit-and-run accidents.
Contact Tackett Insurance, Inc. to discuss your auto insurance quote in Oxford, MS. Our agents can work with you to find the auto insurance policy that fits your needs.