Optional Cap on Auto Insurance – Good or Bad

If you have been in an auto accident and have benefited from coverage of auto insurance, then the idea of allowing people to limit the amount of cover would be suicide. It may allow insurance premiums to go down but that is commensurate to the amount of coverage you get should you get into an auto accident.

The debate is whether the move would be advantageous for consumers and not the insurance firms and that is what many consumer groups are avoiding. Putting caps on limits can lessen the cost in the short term for you’d have to shell out less when you do get insurance but an accident would lower your coverage considerably and even limit the quality of health care and coverage you get.

Offering lower premiums to young drivers would also be ill-advised for they are the ones most likely to sustain serious injuries in the event of accidents due to many factors. Not using their seatbelts and pushing the limits of vehicles and going on joy rides, these are the makings of serious and even fatal injuries when it comes to accidents.

Current insurance packages gives motorists unlimited coverage allowing support for after critical care medical treatment such as rehabilitation for injuries that were sustained.
Doctors say that a med evacuation form an accident and a few days in the ICU can set you back $50,000 easy and that is for more benign injuries.

What if there was brain injuries or a need for rehabilitation due to some brain trauma which costs a lot and people are now feeling the crunch of higher gas prices and other basic necessities cutting their ability to get the best amount of care when they need it would be like going to the grocery without a shopping cart to carry your goods to the counter.