It really depends on who you ask. You might get several different answers from your parents, best friend, or even a co-worker when you're searching for the best auto insurance deals with the best coverages. They all mean well, but it can get overwhelming very quickly if you don't know where to start.
The most important thing to know is that "Full Coverage" is a meaningless term created by salesmen in the insurance industry. Many of our clients were sold "full coverage" insurance only to find out that only their car was protected and none of their injuries would be taken care of after an accident injury. You can imagine how heartbreaking this can be after a catastrophic accident.
Always ask your insurance agent what "full coverage" specifically includes on the insurance policy before signing with them.
It is important to learn the proper terminology and what they mean so you do not pay for an insurance policy that doesn't benefit you. Depending on the insurance company you choose, you may have options for Medical Payment (Med Pay), Personal Injury Protection (PIP), Uninsured Motorist (UM), and Under Insured Motorist (UIM).
It is important to keep in mind that some of the aforementioned coverages will only apply if you are NOT at fault in a car accident. Med Pay and PIP may apply regardless of fault whereas UM and UIM may only apply if you were not at fault.
Stanley & Associates recommend that drivers include Personal Injury Protection in their auto insurance policy. Due to the rise in the cost of medical bills, we recommend that you carry $10,000 in coverage or more. Even the minimum $2500 can help with out-of-pocket expenses from your injuries.
In addition to selecting the right coverage for your car's insurance policy, it is important to know and understand what kind of insurance coverage you have. Read through the terms and conditions of the insurance policy you are buying before signing.
Not only does it pay to drive safe, but knowing the terms of your insurance policy can save you a great deal of frustration. Often times, insurance companies use language or terms within the policy itself that will make it easier for them to deny a claim even if you were not at fault and did everything right.
Confused or getting the run around while filing your personal injury claim? Ask a lawyer.
Through thousands of first hand conversations with our clients, we have noticed that many people believe they have "full coverage". In reality, they have "full coverage" for their vehicle only which typically includes liability, collision, and comprehensive coverages.
Many vehicle owners can see the value in insuring their vehicle when purchasing an auto insurance policy. After all, a vehicle can cost thousands of dollars and is a much needed utility when public transportation is not an option.
Sadly, a lot of drivers choose to protect only their car without consideration for their own potential bodily injuries. If you can imagine your car being a total loss, picture what kind of condition you may be in as a result. It doesn't take much to see the value in including personal injury coverage - which can help with lost wages and medical expenses.
In Texas, 1 in 5 drivers do not have liability insurance even though it is required by law. Including personal injury coverages on your own policy can bring you peace of mind if you are involved in an accident with someone who didn't have insurance or does not have enough insurance.
It may seem counterintuitive to file a claim on your own policy if you didn't cause the accident. However, that is exactly why you pay those premiums every month - to protect yourself from the financial losses incurred by someone else.
If something were to happen to your car, you would want to be able to get repairs, another vehicle, or a rental as soon as possible. The same urgency should apply to your injuries after a serious car accident. You may be surprised at how affordable it is to include additional bodily injury coverage.
That means it is time to consult with an attorney. Insurance companies have a team working to minimize your pain, suffering, and injuries so that they don't have to pay. We believe you deserve to have a team on your side fighting for you. Call Stanley & Associates today at 844-227-9739.