Category: Auto Insurance

It’s good to have Anthony Lancaster Insurance Inc. on your side when you are involved in an accident in Memphis, TN, and you need a little help covering the damages. But, there are plenty of times when there’s no real need to call the insurance agency and cover the damages out of pocket.

The most obvious instance, of course, is when the damages do not exceed the deductible. For instance, you might be able to replace a rear-view mirror for twenty bucks. Twenty bucks is cheap enough that it’s barely even worth the time it would take you to file the paperwork, let alone the cost of your deductible.

Even when your damages exceed your deductible, they might not exceed your deductible by enough to be worth filing a claim. If you would only be saving a few dollars by calling your insurer, you’d probably prefer not to have that mark on your record or have your rates bumped.

With all of this being said, if another driver is involved and insists on going through your insurance companies, then there’s not much you can do. But when it’s up to you, you’re under no obligation to call your insurance company about every dent and scratch.

If you have any questions or if you’re looking to get coverage for your car in Memphis, TN, get in touch with Anthony Lancaster Insurance Inc and see about getting a good deal on a great auto insurance policy. We hope we never need to call our insurance company and make a claim, but it’s good to know they’re there if we do.

Your auto insurance card serves as more than something you show a police officer when you are pulled over for a traffic violation. Your indemnity card represents the financial backing you receive from your insurance provider when you have an accident for which you are determined to be at-fault. The agents at Anthony Lancaster Insurance Inc. can help you determine if the amount of coverage you have on your car or truck is enough to shield you from a lawsuit in Memphis, TN. 

How much auto insurance is required in Tennessee?

State law requires every driver to show proof of indemnity coverage that pays at least $25,000 per person ($50,000 per incident) for bodily injury. You need to have at least $15,000 in coverage for property damage. 

Many drivers in Memphis, TN can easily show proof that satisfies the state’s auto insurance requirements. Such coverage, however, may not be enough to keep you from a lawsuit. 

What happens when the policy is not enough?

Auto insurance only pays up to the policy’s limit regardless of whether such amounts cover all damages. The at-fault driver is still responsible for an accident’s financial weight, even if his or her policy does not provide a payment that covers everything. 

You may find yourself having to pay for damages, including lawyer and court fees if you are sued for the remaining balance that your auto insurance policy does not cover after an accident. Tort cases are not only expensive but also time-consuming as they have the ability to drag on for months or even years. 

How much insurance do you need?

The benefits of having enough insurance to cover an at-fault accident are endless. Not only do you escape the financial burden of out-of-pocket expenses, but you can also handle the matter in a more timely fashion when you are fully covered. 

Anthony Lancaster Insurance Inc. understands the importance of having the right auto insurance plan in Memphis, TN. Such is the reason why our agents thoroughly explain the details of a policy to ensure drivers have the coverage they need. Call us today if you have questions about your current auto insurance plan or if you need a quote for new coverage.