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Why is Having Car Insurance So Important?

Paying car insurance premiums certainly isn’t the most riveting thing that you can do with your money. You may even feel like you are throwing your money away when you pay your bill and don’t see anything in return. In fact, when you pay your bill, you won’t typically see the fruits of your labor or investment until something bad happens. However, when that bad thing does happen, you’ll be happy you have it. Having car insurance is important for many reasons, such as avoiding legal consequences and protecting your finances. Below, our Greenville, SC, uninsured and underinsured driver accident attorneys will explain in more detail.

All states, including South Carolina, require their drivers to carry car insurance. While states can vary in their requirements, they all mandate liability insurance. Liability coverage is circumstances in which you are liable for the physical harm or property damage of another person or their property. It doesn’t cover your own damages. However, if someone hits you and causes you injury or damages your car, their liability coverage should come into play.

South Carolina requires drivers to have a minimum amount of liability insurance to operate a vehicle legally. This coverage protects other drivers and their property if you’re at fault for an accident. The minimum coverage, often called 25/50/25 coverage, includes:

Consequences for Not Carrying Auto Insurance

Without insurance coverage, you could face many consequences, including the following:

If you fail to have the minimum amount of insurance coverage and are caught, the first time you could face:

Financial Consequences

In addition to the fines and fees you may be required to pay under the law, you may also be personally liable for the injuries and damages you cause. With no insurance coverage to fall back on, you will be on the hook to pay medical bills and for vehicle repairs or replacements if you hit someone and it is your fault. This could lead to financial strain for you and your family and possibly even to filing for bankruptcy.

Even though insurance coverage can be expensive, it’s in your best interest, financially and legally, to obtain and keep at least the minimum amount required by law current. Additionally, having the required and adequate insurance coverage will buy you peace of mind that if something were to happen, you would be in legal compliance and wouldn’t be personally liable for the damages up to your coverage amounts.

Questions About Car Accidents and Insurance Coverage? Fulton Barr Attorneys at Law Can Help

Being involved in an accident can be daunting, even if all parties have full insurance coverage. If you were recently involved in a car accident and have questions about your insurance coverage or that of the other party or parties, be sure to contact our office as soon as possible for help and sound legal advice. Contact us online or call 864-235-3154 to schedule a free case evaluation today.