In Louisiana, auto owners need insurance coverage to protect their investment. The purchase of an automobile could present the owner with common liabilities that could lead to litigation. After an accident, the accountable party must file a claim through their insurer to acquire funds for medical and auto repair needs. An auto insurance policy in Sulphur, LA could provide access to these funds for accident victims and prevent a lawsuit.
The Mandatory Coverage Requirement
Currently, the state of Louisiana requires all auto owners to maintain at least liability auto insurance coverage. The policy must provide a minimum of $15,000 for one individual injured during the accident. The maximum coverage allowance for the entire accident should be $30,000. Additionally, the auto owner needs $25,000 for any property damage that occurred. This includes damage to automobiles and any surrounding properties.
Examining the Replacement Value for Your Vehicle
The automobile owner has the opportunity to choose from a variety of policies. The type of policy chosen determines the value of coverage available to the auto owner. Comprehensive is the highest form of auto insurance. It provides the replacement of the vehicle if it is a total loss. However, the value provided by the policy determines the value of the funds available. The automobile owner has the option of increasing this value based on their selections. An agent can help them identify the right policy to accommodate these requirements.
The Terms of Collision Coverage
Collision coverage provides protection damage caused by other vehicles and during storms. These policies may also provide coverage for falling debris that damages the vehicle. The policies provide coverage for the policyholder’s automobile only. This option could provide extended coverage for vehicle owners who have liability coverage alone. Their agent could help them determine what combination of policies is best for them.
Louisiana drivers are required to follow the federal mandate for liability coverage. They must maintain a policy for all vehicles registered in their name. They must also provide evidence of coverage to their local Department of Motor Vehicles whenever they register a new vehicle or renew their tag.
