As of Jan. 1, 2018, all automobile liability insurance policies in Connecticut must carry a minimum of $25,000 for injury or death of one person, an increase of $5,000 over the previous minimum coverage. Governor Dannel Malloy signed a new law which also requires a per accident limit of $50,000 for damages (up from $40,000) by reason of bodily injury or death per accident The new minimal limits for property damage are now $25,000 (up from $10,000). The changes take effect for any policies issued after the Jan 1 date. These changes were brought about by the Connecticut Trial Lawyers, to bring the Connecticut limits up to national averages. The insurance limits in the Nutmeg State have remained the same since the 1970’s.
How will this affect drivers who are injured? It means that even if a person has basic coverage, called 25/50, a single person can collect up to $25,000 per accident. A group of 2 or more injured people can collect an aggregate of up to $50,000 per accident. Also, property damage will be paid up to $25,000. This is especially important in situations where your car is totaled.
The Reinken Law Firm urges all drivers to obtain at least $100,00 coverage for accidents. If you own a home you should consider getting an umbrella policy to protect your financial interests.
In addition, we urge you NOT to reduce your underinsured motorist coverage in exchange for a small discount. This is called conversion coverage. This is a bad investment. Essentially, what you would be doing is taking pocket change in exchange for lowering the coverage on your policy when you are injured by an uninsured driver. For example, if a driver has no insurance or minimal coverage, the only amount you may be able to recover is the amount of your limits for uninsured motorist coverage. This coverage is for you and you will be selling your coverage back to the insurance company. Fortunately, the only way to reduce the coverage (or increase it) is if the insurance conspicuously notifies you of the ability to lower your coverage AND you do so in writing.
Please contact the Reinken Law Firm if you have an accident or you have any questions about insurance coverage.
If you or someone you love has been injured in a car accident, the Reinken Law Firm can help. With over 30 years of experience handling accident claims, we will make sure that your claim is filed within the time limit and will fight to get you the compensation you deserve. Call 203-541-0090.