Posted on Wednesday, October 15th, 2014 at 4:57 pm
Every automobile owner in Arkansas and Oklahoma is required to have liability coverage. Liability coverage pays for any claims when you are at fault in an accident. In both Arkansas and Oklahoma, the minimum liability policy you are required to carry by law is $25,000 per person for bodily injury, $50,000 per accident, and $25,000 to cover property damage to someone else’s property.
With a minimum limit of $25,000 per person for bodily injury, it is possible for the person injured to exhaust the insurance coverage of the other driver before compensating the injured person for all of his injuries. For example, if a person is involved in a motor vehicle collision and suffers $30,000 worth of injuries, and the at-fault party has a minimum insurance policy of $25,000, then the person injured could personally be responsible for paying the remaining $5,000 out-of-pocket.
When you choose insurance, you are choosing protection – protection from having to pay those out-of-pocket damages. If you choose higher-than-minimum limits, you may spend more upfront, but this cost can pay-off if you ever find the need to invoke your insurance coverage. Setting up an underinsured motorist (UIM) and uninsured motorist (UM) policy with your insurance company will protect you from paying any money out-of-pocket if you are involved in an accident where the other driver has no insurance.
At McCutchen Napurano - The Law Firm, we recommend that you consult with a personal injury attorney any time you file a car-insurance claim with your provider or the insurance provider of an at-fault party. We can help protect your right to collect everything you are owed from the at-fault driver, and we can help file a claim under your UIM and/or UM policy if necessary.
If you have any questions do not hesitate to call (479) 783-0036 or contact me by email at jmccutchen@mccutchenlawfirm.com.
