The Idaho state law had made it mandatory for all motorists to purchase liability insurance for all the vehicles registered in Idaho. The minimum insurance coverage for bodily injury in an accident is $25,000 per person. The total minimum coverage for bodily injury of all the persons in one accident is $50,000. The drivers should also compulsorily purchase a minimum coverage of $15,000 towards property damage. Other coverages like personal injury protection coverage (PIP) or uninsured motorist coverage are not legally required. However, the policyholder could buy these coverages and other types of non-mandatory coverages like comprehensive coverage, collision coverage, medical coverage, etc. if the accident risk is perceived as higher in the area of the policyholder.
Comprehensive Coverage
When you own an automobile, several unforeseen incidents could happen that result in a loss to you. Such acts are called ‘Acts of God’ in the insurance industry. If somebody steals your car, if a fire, a flood, or a cyclone damages your car, or if your car hits an animal, these happenings are beyond your control. Only the comprehensive insurance policy coverage would be able to protect you under such circumstances. Further, if you are obtaining the car under a lien or a car finance program, the lender would insist that you purchase comprehensive coverage. However, you could ignore this coverage if your vehicle is very old and the market value is only marginal.
Collision Coverage
The bodily injury liability coverage would provide protection only against injuries and related medical expenses. When the car is damaged in an accident, the repair or replacement costs of the car should also be considered. The collision coverage offers protection for this eventuality. This collision coverage policy would help you in making claims, even if you had been at fault in an accident.
Medical Coverage
When you have bodily injury liability coverage, it would not cover the other passengers in your vehicle when the accident occurred. The medical coverage insurance policy would take care of the risk arising out of such a situation. Further, the medical needs of all the injured persons in the accident would be arranged and taken care of immediately. The driver at fault would be able to avoid costly lawsuits or extended disputes. The medical coverage also provides for lost wages, which is an added attraction.
At times, the auto accidents could be quite serious and the damage claims might far exceed the standard insurance coverages. This would be particularly true, if you have a high-value car and the number of persons injured is considerable. In such circumstances, you might need to consider additional insurance coverages like personal injury protection coverage or PIP, uninsured/underinsured motorist bodily injury coverage, uninsured/underinsured motorist property damage coverage, no-fault coverage, etc. However, taking too much coverage might push up the premium payments beyond your means. Striking a delicate balance between the number of coverages, their limits, the maximum possible risk, and your income would be needed for this. You might use the insurance calculators provided by auto insurance agents in their websites would be helpful in this for you.
