During my recent appearance on Mississippi Public Broadcasting's "In Legal Terms", I was asked how much insurance coverage someone should have to cover themselves in case of an accident. I realized that most people are similarly confused when it comes to this question, so I decided to answer it in detail. Read on to learn how much insurance coverage YOU should be carrying. 

You should carry an amount of coverage you can afford but which can cover your risk if you caused a wreck (liability) or something terrible were to happen to you or a family member in a car wreck (uninsured/underinsured). The insurance company will not write you an uninsured policy that is higher than your liability limits on your vehicle (State minimum liability is $25,000 per person and up to $50,000 per wreck).

Uninsured coverage will be stacked on Mississippi policies among all of the vehicles on your policy. So if you have $25,000 in Uninsured/Underinsured coverage on 3 vehicles on your policy you actually have $75,000 per person and up to $150,000 in total uninsured coverage available to cover your injuries and damages in a wreck.

Choosing the right amount of coverage can be a little trickier. Your liability coverage should seek to protect any assets you have from an auto liability claim, and you uninsured / underinsured be a number to cover the unthinkable. I commonly hear of individuals carrying $100,000 in liability coverage and UM of $100,000 across the vehicles on their policy. Excess and umbrella policies are also available if you have additional assets to protect from liability.

 I am also always happy to talk if you have more questions about this, or try to answer general, legal questions. My normal practice is in the following areas:

Keep us in mind if we can be of any further assistance to you or your family.