Rising auto accidents bring the importance of insurance to the forefront

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23The growing number of accidents has brought back the importance of auto insurance to the forefront. The recent accidents in Lorton haveleft one family reeling under shock after having lost the father and husband. There is bound to be a round of discussions in this regard as the driver or the car which caused the accident was not only an illegal immigrant but had also been convicted of drunk driving on many occasions. But the fact of the matter is that the unexpected always happens on a daily basis.

No amount of financial assistance can ever compensate the loss of a spouse and father, or lessen the pain and suffering from personal injuries, there are bound to be huge financial issues for the affected families. These financial issues can be somewhat ameliorated through insurance. Most families these days have some form of life insurance cover in case of accidental death and most of them have some kind of group or private health insurance plan as well.

But the biggest worry is that most of the drivers in Virginia highways are still driving around with little or no insurance. It is perfectly legal to drive around without any liability insurance in Virginia.

So, the simple solution to this problem is that you can purchase auto insurance for you and your family in Virginia. But if the person who caused the accident did not carry insurance, or had little insurance then there is something called the ‘uninsured motorist’ or ‘underinsured motorist’ coverage. Most often you would have got this is type of coveragewith the Virginia auto insurance policy. But the problem is that you might not have enough coverage.

Ideally, one must have around $500,000 of this type of insurance, but insurance companies might sell you a cover of $1,000,000.

This cover is important because there are a number of people out there who are causing accidents and carry little or no insurance.

The next reason you should have a good coverage is because the medical costs could go up to astronomical figures quite fast. The charges for a day in the ICU can go way beyond $100,000.

The other lesser known fact is that under most of the health insurance plans that are provided by the employer, the money that is given by the plan will have to be repaid to the insurer in case you get the compensation from the faulty driver. So, merely having a health insurance will not prove to be very helpful.