Car accidents can cause devastating injuries and damages to you, anyone else involved, and your car. That’s why having auto insurance is important after a collision—it helps you recover financially from the damages that you sustained. In Arkansas, you are required to have liability insurance, and all other coverage can be elected but isn’t required. That’s why you should know which auto insurance coverage is the most important to have after a crash so you can be sure you have it.
Even when you have insurance to cover your injuries and damages, you might still be looking to recover more compensation for what you’ve had in bills and other costs from the accident. At McMath Woods P.A., one of our attorneys can guide you through the claims process and ensure you get the compensation you deserve.
Different Types of Auto Insurance Coverage
Auto insurance can be confusing because there are many aspects to the coverage you can have. The different categories of insurance policies are liability, collision, comprehensive, personal injury protection, and uninsured and underinsured motorist (UIM). As stated above, the only type of insurance that Arkansas residents are required to carry is liability coverage, but these other categories could be helpful in the event of an accident.
The Insurance Information Institute (III) covers the differences in types of coverage. Here is a deeper look into the different types of insurance coverage for your motor vehicle:
- Liability—Covers bodily injury and property damage for others involved up to certain amounts after your accident.
- Collision—Covers damage to your car that comes from colliding with another vehicle, a fixed object, or when your vehicle flips.
- Comprehensive—Covers loss from theft. It also covers other damage to your car that doesn’t come from a collision with another car or fixed object. Some examples are animals, fallen objects, and fires.
- Personal Injury Protection—Covers the medical bills of the policy holder and their passengers in the event of an accident. This can also extend to lost wages and funeral costs.
- UIM—Covers you if you are hit by a driver who does not carry auto insurance or if their policy is lacking in coverage.
Of all of these plans, the most important auto insurance coverage to have after a car crash is liability coverage and ensuring that it follows the state’s requirements for amounts. When you have liability insurance coverage, you can feel confident that you are covered for any bodily injury or property damage that you might have caused anyone else in your collision.
However, collision and comprehensive insurance are also important to have. On top of your liability insurance, having collision and comprehensive coverage can ensure that you are covered in any event that could cause damage to your car. Even though these types of coverage are the most important to have, all of these can help protect you and your pocket after a car accident.
Arkansas Auto Insurance Laws
At minimum, you must have liability insurance in Arkansas. The minimum amounts of liability coverage that you must carry in our state are:
- $25,000 for bodily injury for one person per accident
- $50,000 for bodily injury for more than one person per accident
- $25,000 for property damage per accident
Since state law does not require you to have any other types of auto insurance, you might elect the basic coverage and that’s it. While that’s legally okay, for peace of mind, you might want to have more coverage so that you feel protected in the event of an accident. Since it’s a competitive market, it’s important to shop around to find the policy that works best for you and offers the coverage you want the most.
Hire McMath Woods P.A. To Represent You
When you’ve been in an accident in Arkansas, you might file a claim through your insurance to cover your injuries and damages that you sustained. However, your insurance company might be offering you less compensation than you deserve. That’s when we can help.
We will fully investigate what happened to you in order to calculate what full and fair compensation would be for you. Then we will begin fighting to get you the justice you deserve and ensure that we recover what you need financially. Reach out to us today so we can get started on your case.