Meeting the Minimum Vehicle Insurance Requirements in Georgia
Most state auto insurance laws are similar, but since some differences always exist, you need to familiarize yourself with your own state's regulations. The Georgia Department of Revenue verifies coverage when you are stopped by a police officer, so it's a bad idea to try to drive without protection.
The Peach state requires minimum liability protection levels of $25,000 bodily injury, $50,000 per accident, and $25,000 property damage. Although comprehensive and collision add-ons are not required by law, your lender or leaseholder may require you to have these. Keep in mind that hospital costs can be quite expensive, and many popular new vehicles cost more than $30,000. You may want to consider buying more than the minimum legal limits required if you think you may need it.
The industry recommends a minimum liability amount of 100/300/50. This means that, for one auto accident, your insurer will pay $100,000 per person for bodily injuries; $300,000 in total bodily injuries; and $50,000 in property damage.
Comprehensive and Collision
Comprehensive insurance protects your vehicle against damage like broken windshields or other, non-auto-accident-related damage. Collision insurance takes care of damages done to your vehicle, regardless of which driver is at fault. For example, if someone else causes the accident, but his policy is insufficient to pay the whole amount needed to cover your car repairs, your collision coverage will pay the amount left over (after your deductible has been paid).
Even though liability protection is required in 45 states, 17 percent of U.S. drivers do not have it, and some who do, do not have enough coverage. For this reason, many states require that you also obtain uninsured/underinsured motorist coverage. This is intended to protect you in case your car is damaged by one of these drivers.
Medical Payments (aka MedPay)
Medical payment coverage pays medical bills and lost wages for you and your passengers, regardless of who is at fault in the accident. If you already have a health plan through your employer, however, you may not need this plan.
While this may sound desirable, you could alternatively set aside the amount you would be paying towards this product in a checking or savings account devoted to covering emergency expenses, so you can earn interest on it, and if you ever need it, it will be there. Typically, if you are not at fault in the accident, the other driver's provider will reimburse the cost of your rental car.
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