PART 2: YOU AND YOUR AUTO INSURANCE: WHAT YOU NEED CHANGES OVER YOUR LIFETIME

JLR Auto Evolution Blog 20s to 30s.jpg

Introduction

Part 1: Teens - early 20s

As you get a little older, you may get married and have kids. Suddenly you have people, other than yourself, to worry about. And, hopefully, you are able to afford a more comprehensive auto insurance policy. When you get married, if you and your spouse each own a vehicle and they are covered under two separate auto insurance policies, you may want to discuss purchasing a joint policy with STACKED COVERAGE1. When asking about stacked coverage, you would also want to make sure that you have an equal amount of UNINSURED and UNDERINSURED MOTORIST COVERAGE2 as liability coverage. The uninsured and underinsured motorist coverage protects you and your family in the event that the individual who caused the accident has no insurance or not enough insurance to cover all of your injuries, pain, suffering, inconvenience, medical bills and lost wages.


The coverages that I mentioned so far are paid in lump sum payments. That is, you would need to wait to receive these payments until your case is completed - either through a settlement or trial. Depending on the circumstances of your accident and the types of injuries you suffered, this can take months or even years. If you were injured in an automobile collision, and those injuries prevented you from working, it would be important for you to have money available to pay your bills. You are able to purchase WAGE LOSS COVERAGE3. The amount of wage loss coverage you need depends on your particular circumstances, but if you have this coverage, you can receive payments once a month rather than waiting until your case is completed.

Check back tomorrow as we discuss auto insurance coverage for people over 40!


1You may purchase stacked coverage under your own auto insurance policy. Stacked coverage allows you to "stack" your uninsured and underinsured motorist coverage. That is, if you have 2 vehicles on your policy and have $50,000 of uninsured motorist coverage and the driver that causes your injuries is uninsured, you now have $100,000 of insurance available to cover your injuries and damages. If you have 3 vehicles on your policy, you would have $150,000 of insurance available.


2Uninsured and Underinsured Motorist Coverage is coverage you can purchase under your own auto insurance coverage. It protects you and your loved ones from drivers who have little or no liability insurance. The minimum requirement of liability insurance in Pennsylvania is only $15,000. We recommend you get as much uninsured and underinsured motorist coverage as you can afford.

3You have the option to purchase wage loss coverage. This is coverage under your own auto insurance policy. If you are off work for a five (5) day period, you are eligible to begin collecting wage loss on a monthly basis. The amount you collect depends on what you purchase and your average earnings. Purchasing wage loss coverage can provide you with some immediate income while you are recovering from your injuries.

No Comments

Leave a comment
Comment Information
Get In Touch Today

Get In Touch Today

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

map-img

Our Practice Range

Serving Southwestern Pennsylvania with offices in Westmoreland, Allegheny, and Blair Counties.

  • Super Lawyers
  • Best Lawyers
  • AV Preeminent
  • WILG
  • NOVA
  • NOSSCR
address-1

Greensburg Office:
550 East Pittsburgh Street
Greensburg, PA 15601

Toll Free: 888-534-6016
Phone: 724-221-3191
Fax: 724-837-1348
Greensburg Law Office Map

Pittsburgh Office:
941 Penn Avenue
Suite 101
Pittsburgh, PA 15222

Phone: 412-391-2800
Pittsburgh Law Office Map

Latrobe Office:
816 Ligonier Street
First Floor
Latrobe, PA 15650

Phone: 724-539-2841
Latrobe Law Office Map

Altoona Office:
615 Howard Avenue
Suite 210
Altoona, PA 16601

Phone: 814-656-0065
Fax: 814-656-0066
Altoona Law Office Map

address-2
address-3
address-4
  • Super Lawyers
  • Best Lawyers
  • AV Preeminent
  • WILG
  • NOVA
  • NOSSCR