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How much will car insurance cover following a major wreck?

On Behalf of | Jan 25, 2023 | Car Accidents

Car crashes are incredibly expensive, especially if someone gets injured. Just fixing your vehicle after a wreck can cost thousands of dollars, but injuries can add medical bills and lost wages into the mix. You should not have to pay for the consequences of a crash with your own savings, especially when you are not the one at fault for the collision.

Instead, you should be able to make a claim against the other driver’s insurance policy. Tennessee requires that everyone with a driver’s license and a registered vehicle carry liability insurance on their vehicles.

That coverage protects them from financial responsibility after a crash by paying the costs of the other people affected. How much can you expect car insurance to cover after a collision in Tennessee?

Policy limits determine your protection

Every driver has to make a decision about how much insurance they carry. So long as their policy complies with state minimum requirements, they can carry as much or as little coverage as they would like.

Unfortunately, many people choose to carry very little coverage, often only buying what the state requires. Tennessee law requires that every driver have $25,000 worth of property damage coverage. The base limit for bodily injury coverage is the same, $25,000. However, the minimum bodily injury coverage goes up to $50,000 if a crash involves two or more injured parties.

Your costs also affect the compensation

You won’t just automatically receive the maximum amount of insurance coverage available. What you receive from the insurance company will be a reflection of your actual losses. Coverage can apply to numerous costs, including purchasing a replacement vehicle or repairing the damage to your car.

You can even make a claim for the diminished value of your vehicle following the repairs. The policy can also cover your hospital bills, your ambulance ride and lost wages while you are unable to work. You could potentially even include other losses in your claim if there is sufficient coverage for your basic losses.

Reviewing the policy of the other driver and an estimate of your losses can help you determine how to handle an insurance claim following a car crash in Tennessee.