But she might get social security checks, which some money would come out of each month to pay for the damages. My grandpa had to do that lol.

 

Certainly there are a lot of people running around with no insurance as most of us know. What is less known is that most people carry only the minimum coverage and how that can affect you.

A friend was hit from behind while stopping for a car in front of him to take a left on a country road. The other vehicle was going approximately 55 MPH. My friend sustained significant injuries to his back, broken ankle as well as other cuts and bruises. The injury to his back will always be with him and, though it has been three years, he still suffers pain from it. Because of the accident, he was unable sustain his business at the time and lost it. He also lost his home and land that he was buying.

Long story short, all that was available to him was $30,000, the minimum liability amount required in NC. After the attorney and what he had to pay out of pocket for medical costs, he was left with $4000.00 or thereabouts. Not even remotely near what he needed to replace what he lost financially, not to mention the years of medical costs that he will surely sustain as the result of his injuries. The guy that hit him assets amounted to much less than the $30,000 available through the insurance adjustment.

The moral of this sad tale is, carry uninsured and uninsured coverage. If you have significant assets, you need to raise your insurance accordingly because, the victim does have the option of going after your personal assets including a portion of your paycheck.