Anytime you ride in a motor vehicle, you have some risk of getting hurt in a crash. Collisions are possible in front of your driveway or in the parking lot of the local supermarket. Most people try to ignore the constant threat of a motor vehicle collision. They feel confident that they can rely on car insurance if a crash should ever occur and take their safety for granted.
While every driver in Indiana should have both liability coverage and uninsured/ underinsured motorist protection as required by state law, not everyone has enough coverage to protect themselves after a major injury. If a crash leaves you with a serious injury, the amount of insurance coverage available between your policy and the other driver’s may not be enough.
A spinal cord injury is one of the most serious injuries people might suffer in a car crash. While they are rare, such injuries will almost inevitably cost more than what insurance will pay, which is one reason why you may want to review your coverage and increase what you carry.
Minimal insurance provides minimal coverage
Many drivers worry more about affordability than protection when making decisions about insurance coverage. They buy policies that provide the coverage required by state law, even though such coverage may not be enough to cover catastrophic losses.
If you and the other driver both have the lowest coverage permitted in Indiana, you might have only $50,000 worth of bodily injury coverage after making a claim against both policies. That may not even cover your first year of medical expenses, let alone a lifetime of lost or reduced wages. Increasing your own liability coverage and uninsured/underinsured motorist protection could make a big difference if you ever experience a wreck.
Catastrophic injuries require a more careful approach
Individuals negotiating large insurance claims or looking into a personal injury claim related to a spinal cord injury may very well need to look into alternatives, such as lawsuits or third-party liability claims, to cover their expenses. Even incomplete spinal cord injuries often result in six-figure or seven-figure price tags for medical care, and there are also lost wages and lifestyle changes to consider.
Properly quantifying the financial impact of a catastrophic injury can help people connect with the financial compensation they require because of their injuries.