Insurance policies cover us in “just in case” scenarios like car accidents, both routine medical care, emergency care, and in natural disasters. We agree to pay premiums, and when the unthinkable happens, the policy kicks in to cover the damage.
Insurance is a beautiful thing -- until you can’t afford it. The convenience of insurance is too costly for many Americans. Maybe they are having to choose between paying the electric bill or insurance that month. Or maybe, they had to take time off work to care for a loved one and car insurance is the thing that had to be eliminated from the budget.
Today, we’re talking about the necessary insurance you need and what happens if you get into an accident and no one has insurance.
Tennessee Insurance Requirements
Whatever the reason for needing to save money, we encourage you to keep your car insurance even if you have to lower the coverage significantly. In Tennessee, we are required to have car insurance. Here are the limits you need to know:
- Bodily Injury Liability: $25,000 per person and $50,000 per accident
- Property Damage Liability: $15,000 per accident
- Uninsured Motorist Bodily Injury: $25,000 per person and $50,000 per accident
- Uninsured Motorist Property Damage: $15,000 per accident
Additional Facts You Must Know About Tennessee Car Insurance
You must prove financial responsibility.
The most critical thing Tennessee asks of its drivers is to prove that they can afford to pay for damages if they are at-fault in a car accident. Now, most people can't pay these costs out of pocket, and that's why there's insurance. Carrying insurance is proof that you have financial support. Tennessee Department of Revenue will accept posting a bond or cash deposit to satisfy the requirement and lists you as a "self-insurer."
You can shop around for the best quote.
We understand that car insurance is an additional expense every month that can become costly. A few things determine your rate. The type of car you drive, the age of the vehicle, and where you live. When you reach out to an insurer, they will input some information about you to decide how much to charge. You don't have to accept the first offer. Numerous agencies are available within the state of Tennessee that offers car insurance. If the quote is too high you can shop around until you find one that's affordable. Additionally, there are programs and bundles that you might qualify for, so don't forget to ask the rep to walk you through discount options.
Have you been in injured a car accident? Contact Bart Durham today to schedule a consultation.
Accidents When Nobody has Insurance
According to a 2015 study by the Insurance Research Council, 20% of Tennesseans drive without insurance. That puts our state at the 5th highest with Florida leading at 26.7%. When you choose to drive without insurance, you are taking a big risk, both financially and legally.
What happens if you drive without car insurance?
- You could face legal issues. If police are called and you do not have proof of insurance at the time of the accident, you will be required to go before a judge and present proof of insurance. If you can’t present it then, you could face fines or a license suspension.
- You could be sued if the accident was your fault. If the other driver doesn’t have insurance and they suffered injuries and/or property damage, they could sue you to cover the costs.
- You’re stuck with your own bills. If the accident was your fault, you’ll be stuck paying for property damage and any treatment for injuries. If the accident wasn’t your fault, you can try to recover costs by suing, but we recommend getting a good lawyer to increase your chances of recovering the money you need.
What should I do if I've been in a car accident?
If you've been in an auto accident, the first thing you need to do is ensure you and your passengers aren't seriously injured. Next, call the police and then get the other driver's details. You'll also need to contact your insurance provider to report the accident.
If you sustained an injury that has put you out of work or racked up lots of medical bills, you could get compensation. Contact Bart Durham to discover whether or not you have a case.
