Categorized | Opinion

Raise Your Limits

By David Peel
David PeelHow much did things cost in 1977?
A lot less than now correct? Our state set a minimum liability limit back then of 25,000 per person and 50,000 per accident total.  The average home price was $50,000. The average income was $15,000. Rent was around $240 a month. A stamp cost $.13.
We can agree all those have gone up. However, your auto insurance minimum state liability standards have not kept pace with the time, to say the least.  In 1977, I was eight years old. Elvis died. We had been to the moon only eight years earlier.  Watergate was still fairly recent news.
So, are you driving around in a car that has a 2017 kind of value, amongst other cars that have a 2017 kind of value racking up medical bills if an accident occurs in 2017 value?
But you have 1977 limits?
I have accident cases in my office every week where the first bill that they received is for a stay at Regional One that is far in excess of $25,000 just to begin with.
Right now while you’re thinking about it, call your insurance.  Ask for your policy declarations page (if it’s not printed on your card in your wallet) and look and see what those numbers say. If they say 25/50 or 50/100, you’ll need more coverage if you can possibly afford it. Make sure you have both liability which is required and uninsured motorist which is not required but protect you and your family from the underinsured people who are driving around.
You know the ones that have the 1977 limits.
Peel seeks justice for those injured in car accidents, medical malpractice, and nursing homes. He often addresses churches, clubs and groups without charge. Peel may be reached through PeelLawFirm.com wherein other articles may be accessed.

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