Why Liability Only Car Insurance is a Bad Idea

Opting for liability only car insurance puts yourself, your family, and your loved ones in a financially precarious position. Liability only car insurance protects you against the claims of other drivers for their injuries or damage to their vehicles if you cause an accident, up to the limits of liability in your policy.

You may be wondering why liability only insurance is a bad idea. Sure, you can save on a few bucks in insurance premiums payments with liability only coverage, but if your car insurance has liability only and you cause an accident, costs related to your injuries or damages to your car will not be covered.

Here’s a Real Life Example of Why Liability Only Car Insurance is a Bad Idea

Here’s a real-life example of how liability only car insurance can set you back financially. A friend of mine recently called me asking for some advice after he was found at fault for a car wreck. He received a citation for failing to yield at a stop light after hitting an oncoming driver head-on. After I inquired more regarding the wreck, I learned that my friend had liability only car insurance. The wreck left him personally responsible for thousands of dollars in medical bills related to his injuries. What’s worse is that his car was totaled, and he was also still responsible for paying the entire car loan balance on his vehicle that he would no longer be able to drive. Ultimately, having liability only car insurance left him personally responsible for approximately $15,000.00 worth of costs related to his injuries and property damage.

It’s Better to be Safe Than Sorry

Nobody ever wants to think that something bad will happen to them. However, it is always better to be safe than sorry. Liability only car insurance is a bad idea. The potential financial ruin that can happen to you if you’re found at fault for causing a wreck is not worth the few dollars in insurance premiums you will save on with liability only car insurance.

I pray that you are never injured in a car wreck. However, if you are a loved one was injured in a car wreck, contact me. I fight to ensure that my clients receive maximum compensation for their injuries and make sure every insurance policy available to you is factored in your settlement.