The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: show me the money on February 26, 2015, 01:13:52 PM
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Hello all,
I live in PA and I have had Limited tort for most of my driving life, and i am thinking of changing to full tort as i get older and now have a 2 yr old son to provide for. the cost difference is $380 in a year. is it worth the extra amount to up to full tort?
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Based on a quick read of http://www.portal.state.pa.us/portal/server.pt/community/auto_insurance/9187/auto_insurance_guide/536522, e.g. "Limited tort coverage offers you a savings on your premiums. You are still able to recover all out-of-pocket medical and other expenses," limited tort is appealing.
Depends how much you are willing to pay for the right to sue for "pain and suffering" in case that happens.
What did you decide?
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I have 2 kids, 4 & 6, and I also live in PA. I have limited tort. You can still get compensation for actual economic damages- medical bills and missed work. I was recently in an accident and I am still happy with my decision.
You still can get non-economic damages (pain and suffering) depending on the severity of the injury.
What you should get with your $380 is life insurance or disability insurance, I think. Stick with limited, drive carefully, and find other avenues to give you piece of mind.
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Seems backwards that you should have to pay more on your insurance for the right to fully sue someone when they injure you. That's what their liability insurance is for!
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i stuck with limited, and left it alone, i am a pretty safe driver, stay quite far away from the person in front of me, so being rear ended is much more likely as that has happened 5 times in my car with no damage, absolutely crazy how people dont pay attention.
For the life insurance my current insurer wont give me term life because of medical reasons. i wish i could get that until we are FIRE'd
and yes it is backwards the thinking was that a true no fault state would save money in the court systems with less frivolous lawsuits, but i think the opposite has happened, PA is pretty crappy