Abramson Smith Waldsmith LLP

Purchasing liability insurance may protect your assets

According to Market Insider, California is one of the worst states to file an accident claim. California gets ranked second after Michigan and Louisiana. What did researchers use to arrive at this conclusion? They looked at the states where drivers pay the most on average after filing auto accident claims. Michigan and Louisiana average $3,502 and $3,348 respectively. California averages $3,081.

One of the biggest contributing factors to the higher insurance premiums is repair costs. Note that the cost of repairing vehicles climbed 66% higher in June 2019, compared to where it stood in June 2000. The pricier components in vehicles is one reason for this. It is also reasonable to assume the cost of labor has increased. The best recommended protection from the researchers is the purchase of more liability coverage.

NerdWallet makes a similar recommendation, but reminds drivers that repair costs may be the least of their worries. Drivers may also need to prepare for the possibility of getting sued. Failure to pay fines or reparations decided in court could also lead to the loss of assets. The two main types of liability car insurance to consider include bodily injury liability and property damage liability.

In addition to liability coverage, many drivers seek more protection through personal injury protection insurance and medical payments coverage. Some drivers also choose to get uninsured and underinsured motorist coverage. For drivers who want even more protection, they may choose an umbrella policy to cover any excess. These drivers may need to max out home and car insurance policies before qualifying for an umbrella policy.

No Comments

Leave a comment
Comment Information
  • Super Lawyers
  • American Board of Trial Advocates
  • The Best Lawyers In America
  • American College Of Trial Lawyers
  • Salus Propoli Suprema Lex Esto
  • Lawdragon 500 Leading Lawyers In America
Email Us For a Response

How Can We Help?

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Abramson Smith Waldsmith LLP
44 Montgomery Street
Suite 3340
San Francisco, CA 94104

Phone: 415-325-2535
Fax: 415.421.0912
San Francisco Law Office Map