First, let’s talk about what the law requires. In both Tennessee and Mississippi, drivers must have proof of financial responsibility, or the ability to pay for the injuries and property damage they cause others to suffer in a crash. The easiest way to meet this requirement is to have liability insurance in the required minimum amounts. If you lack the required insurance, you could face fines and other penalties. (In fact, Tennessee recently enhanced its penalties in an effort to reduce the state’s number of uninsured drivers.)
In Tennessee, the minimum limits are:
- $25,000 for bodily injury per person
- $50,000 for bodily injury per accident (two or more persons)
- $15,000 for property damage per accident
In Mississippi, the minimum limits are:
- $25,000 for bodily injury per person
- $50,000 for bodily injury per accident (two or more persons)
- $25,000 for property damage per accident
Second, let’s talk about what common sense demands. If you cause a car accident, and you lack liability insurance, then you could end up losing a significant amount – if not all – of your personal assets in order to pay the other person’s damages. That’s a risk that you should never take. To better protect yourself, you should actually consider buying liability coverage above the minimum limits.
Neither Tennessee nor Mississippi require you to have other types of coverage such as uninsured motorist (UM), underinsured motorist (UIM), collision, comprehensive or medical payments coverage. However, as we explain below, the benefits of having UM and UIM coverage far outweigh the risks you face if you don’t have that coverage. Also, if you have a car loan, the lender may require you to buy collision and/or comprehensive coverage.
If you are unsure of the coverage you have available to you after a crash, attorney David E. Gordon can review your policy and discuss your options.
