How Coverage Operates After a Car Accident
Thinking about which insurance coverage to get can be overwhelming. There are dozens of insurance companies, legislations, and types of insurance coverage that you need to take into account before making your decision. It is for these reasons that we decided to write this article: to help you know the basic types of insurance policies out there. To get that information, we talked to our car accident lawyers and insurance experts. This is what we found out.
- Underinsured or uninsured motorists insurance
This coverage will cover your medical expenses if you are involved in an accident in which the at-fault driver does not have insurance or their coverage is not enough to cover the damages they have caused you. This kind of insurance will also get you compensated in case you become the victim of a hit-and-run accident.
- MedPay Insurance
Med-Pay covers medical expenses, if you’ve been in a car accident, regardless of who is at fault. Plus, medical payments insurance may cover funeral expenses, injuries you sustain as a pedestrian or bicyclist after a car hits you; as well, pedestrian or bicyclists injuries and required dental care. However, benefits and restrictions of medical payments coverage will vary between auto insurance companies. It’s important to speak with an insurance agent to completely understand the details of medical payments coverage at each company.
- Liability insurance
In case you are involved in a car accident, and the investigation establishes that you are responsible for the accident, your insurer will pay for property damages and any medical expenses incurred by any third party as a result of the accident. In some cases, even the legal fees for car accident lawyers will be covered in case you are sued in a court of law. Almost all states require at least minimum liability insurance coverage.
- Collision insurance
In case you get involved in a car crash, collision coverage will pay for the cost of repairs to your car. Collision coverage is especially important if you have just bought a new car or if your car is expensive, as it will help in getting you back to where you were before the accident. In case the value of repairs is more costly than the value of your car, collision coverage will get you compensation equal to the value of your totaled car.
- Comprehensive aka OTC (Other-than-collision) coverage
This type of insurance covers any damage to your vehicle caused by any occurrence other than a collision. For instance, if your vehicle gets stolen or gets damaged in a fire or earthquake, comprehensive coverage will get you compensated for the damages to your vehicle. If you hit a deer or a hailstorm damages your car, you will also get compensated. Comprehensive coverage is, however, costly and usually unnecessary especially if you can easily replace your vehicle. Also, most of the things you are getting coverage against have a very low likelihood of happening. For example, it is highly unlikely that a tree branch will fall on your car, especially if you live in a desert.
As you can see, there are several basic types of insurance coverage. Some are required by law, and some are not. Some are crucial and others you could possibly do without.
If you or a loved one has been injured in an accident, contact us and we will assign one of our skilled and experienced car accident lawyers to help you with your case.