The changes to business and work in Tucson may mean that you are spending less time on the road, but it does not mean you should ignore your auto insurance policy. As the city continues to improve and adapt to the situation with COVID-19, the risks to your vehicle may continue to rise. Drivers are returning to their normal activities and habits, but they may not be taking the appropriate precautions to ensure they are properly covered for their vehicles. You want to make sure you have the right liability coverage to handle the changing situation.
What is Liability Insurance?
Liability auto insurance refers to coverage for human losses that relate to your behavior or the behavior of other drivers. Examples would be loss of one’s ability to work, emotional damage, loss of future earnings, and even death. Your policy will have some coverage to protect other drivers from accidents that you caused; however, you may find that your current policy does not have coverage for uninsured or underinsured drivers.
What is UI and UIM coverage in your policy? The coverage refers to the financial protection you need if a driver of another vehicle is at fault and is uninsured or underinsured. It does not relate to accidents that you cause; however, it does limit financial costs if another person hits your vehicle and does not have enough coverage to pay for your medical bills or the medical bills of a passenger in your vehicle.
You want to make sure that your liability insurance includes coverage for individuals who are not insured. Arizona requires you to have auto insurance. As of July 1st, those limits will increase from $15,000/$30,000/$10,000, to $25,000/$50,000/$15,000. However, a portion of drivers do not carry any coverage or do not have enough liability coverage. The Insurance Information Institute estimates that around 10 to 15 percent of drivers each year do not have auto insurance. Due to the COVID-19 situation, it is possible that more drivers are uninsured as deferred payments start to require payments or they are spending less time on the roads and decide to get rid of their policies. You should be aware of the risks and take appropriate precautions through proper insurance coverage.
Evaluating Your Current Policy
We recommend that you evaluate and check your current auto insurance policy to make sure it fits your needs and situation. You want to make sure that your liability insurance coverage will handle the costs of most accidents. You want enough coverage to pay for major injuries in an accident. You also want to look into your policy’s coverage for uninsured drivers or underinsured drivers. Make sure that you have coverage for any situation and that it is enough to handle injuries to yourself and passengers.
Why Should You Increase Limits?
At Mooney Insurance, we may suggest that you increase liability limits. We may suggest that you carry extra liability coverage as well as protection against uninsured and underinsured motorists. In some situations, we may also recommend additional coverage for specific risks to your vehicle, like theft, vandalism, or even damage from storms when you keep your vehicle parked outside. Our suggestions are personalized based on your situation and your concerns.
If you would like a review of your coverage, or you are concerned about new risks that may arise, Mooney Insurance can help with your needs. We are available to answer questions and help you evaluate your current policy to determine the appropriate changes for your needs. To learn more about our services or to talk to a professional about auto insurance, contact Mooney Insurance today.