In many states, drivers are required by state law to have a minimum amount of liability coverage. State laws vary as to the amount of insurance a driver is required to carry. This is insurance to pay for damages to others if you cause an accident. You can pay for greater coverage if you wish. This may protect you from loss if you are found liable in a vehicular accident. Remember, liability insurance pays only to settle claims or pay judgments against you if you are found negligent.
To protect yourself against claims from other drivers or passengers in case of a vehicular accident, you can purchase a coverage known as “uninsured or underinsured motorist benefits”. This allows you to receive compensation from your own insurance company if a negligent driver has limited liability insurance. If the amount of your damages exceeds the negligent party’s coverage, you can make a claim under this coverage from your own company.
To cover medical bills, you will need to purchase an additional coverage called “medical payments”. Medical payments coverage may go by various names, but its intent is to pay for the medical needs of a driver or passengers. It only covers those who are in the insured car.
Collision coverage is another type of voluntary coverage you may wish to purchase. This covers repairs or replacement to your vehicle after an accident, regardless of who is at fault. There is usually a deductible on the amount paid. This allows you to have repairs on your vehicle if you are at fault, or if your car is damaged by someone who has no insurance or who flees the scene.
What You Need To Know:
Insurance companies’ obligations are to their stockholders and policy holders, not to the people injured by their insured’s negligence. Insurance companies’ desire to maximize their own profits provides them with every motivation to try to deny your claim or pay you the very minimum amount that they can get away with. The insurance companies also have enormous advantages: they have immense wealth, armies of experienced adjusters and lawyers and years of experience reducing and denying claims.
At the Law Office of Stephen A. Burroughs, our only obligation is to you, our client. We will use our experience and every resource available to protect your interests, and we will work hard to help you receive the full value for your case. We will advise you every step of the way to help you avoid any mistakes that could cost you money. There is no charge for attorney’s fees until you recover money for your personal injuries, and we will also help you resolve your property damage claims for no fee whatsoever. For assistance, call today at 1-877-300-3773, contact us or submit an free online case evaluation.