When selecting car insurance it can be very confusing. There is liability insurance, tort insurance and a whole bunch of other confusing terms that you do not use in real life. So what do you need? What type of coverage do you want and how much is it?
Let’s look specifically at what tort insurance is.
When you are in an accident Tort insurance is what enables you to sue a negligent driver for pain and suffering.You are still able to sue for medical expenses if you have selected limited tort.The main advantage of limited tort is the fact that you get a reduced cost in your monthly premium while still being covered for potential medial bills from a major accident.
Why would full tort be a better option?
Full tort allows you to sue for things like pain and suffering. If you are in a major accident have full tort would be very beneficial. You may have a significant amount of pain and suffering after an accident and not be able to return to work. If you are able to secure extra money though legal measures you may be able to recoup some of the money you would miss out from paychecks.
So how do you make a decision whether you should get limited or full tort insurance? By not covering yourself completely you put yourself at risk. Just how much risk is something that cannot be figured out with mathematics. You’ll have to take a look at your driving record, how long your daily commute is and the safety rating of your car. Plus any other factor that could cause you to become injured in an accident.
You will personally have to weigh your options and compare the risk versus reward. Is saving a few hundred dollars each month worth it? That is something each individual insurer will have to figure out themselves.
