Get ready for the next victim of the recession: Car insurance! June 19, 2009

Here on Staten Island, with every house having what seems to be at least three cars per family, the next way to save money in tight times is to reduce the amount of insurance coverage carried for their cars. Instead of high liability limits, people are now reducing their coverage to save money on their monthly premiums. With the average car insurance bill running $1,200 per year for a single car in New York State, people are looking to cut back their expenses any way they can. This means that when you are involved in an accident with a driver that recently lowered his coverage, you may find yourself looking to your own insurance policy to make up the difference. Remember, New York State only requires you to carry $25,000 in liability insurance. In a serious car accident, the value of your injuries could easily exceed these minimum policy limits. Silive has reports everyday of car accidents occurring on Staten Island, some involving those big, expensive SUV’s that can cause extreme damage to an average sedan in a car accident.  If you are involved in an accident with a driver that has minimal limits, the “underinsurance” portion of your own car insurance policy would kick in to make up the difference. So in these tough times, it has become even more important for you to protect yourself against the underinsured. If you are unsure if the amount of insurance that you carry is sufficient to protect you, call your insurance broker or call or write for my free book, A Lawyer’s Guide to Purchasing Car Insurance. It’s free and what better word than “free” could you hear in this economic climate!

Frank Dito is a New York Personal Injury attorney specializing in New York real estate law , New York business law, and New York franchise law. You can visit his Law Firm Decker, Decker, Dito and Internicola website by clicking here, download his FREE New York Car Insurance book, or call him at 718-979-4300 or 1-800-310-5520 for a free case analysis.

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