I believe that the liability limits for personal injury (if you cause an accident that harms another person) should have a mandatory $500,000 limit. If this is made mandatory, the premium wont be all that much more, since in most cases, will never be used. It also should be made 2 months in advance. (like a security deposit) In addition, if the car is financed, this insurance premium should be tied with the car payment. i.e if you miss a couple payments, the car is repossessed, and since the liability insurance was paid 2 months ahead of time, then in essence if you cause damage to another, the insurance is still in effect. This would reduce the need for most responsible people to pay their own UM coverage, or if they did, the additional coverage would not be much more. It also puts the responsibility and burden on who it should be put onto. Now what about a car that is paid off, hence this liability insurance is not tied into a car payment and hence the car cannot be repossessed? well , if you miss 2 insurance payments, perhaps the state should be allowed to reposses your car...or charge you a hefty fine, be able to garnish wages for that hefty fine...(and that fine is put into a liability fund for serious accident victims)
Posted on: Thu, 14 Nov 2013 21:41:42 +0000
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