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You Really Need to Know This About Your Car Insurance Policy
One of the most significant problems with car insurance is that drivers don’t understand their protection. Unfortunately, it’s often after a catastrophic accident that they learn they have insufficient coverage. That’s why the Law Offices of Beninato & Matrafaljo has decided to be proactive. Make an appointment with our office to review your car insurance policy.
Without question, making the right choices can be tricky. After all, what’s the difference between Collision and Comprehensive coverage? Who pays your medical bills? What about your property damage? What exactly does the Liability portion of your policy mean?
In previous articles, we focused on different aspects of New Jersey automobile insurance. For now, let’s look at the importance of the portion of your policy that is described as Uninsured/Underinsured coverage.
Car Insurance and Uninsured/Underinsured Coverage
Unless someone has explained it to you, there’s a chance that you don’t understand how critical Uninsured/Underinsured coverage is when it comes to protecting your interests. These two part of your policy are significant in the case you are injured in an automobile accident.
For starters, think of some scenarios that are an unfortunate part of today’s society. You are on the way to work, and you witness a fancy sports car darting in and out of lanes. Despite your best efforts to say away from the erratic driver, he somehow manages to collide with you. There’s no doubt that you are blameless.
Your injuries are so severe that you require a week-long hospital stay. In fact, it seems as if you’re going to be incapacitated for a very long time, if not indefinitely. Not surprisingly, you are angry at the motor vehicle operator who caused you such harm. You are also worried about the financial consequences. To add insult to injury, you discover that the car that hit you was stolen.
You’ve never pursued a lawsuit in your life. However, you feel this is the exception. So, you visit an experienced personal injury attorney to discuss your options. The first piece of news flabbergasts you. You learn that you can’t sue the vehicle owner’s insurance company for damages. Liability insurance is voided for stolen vehicles.
There’s no question that your wrath and fear increase. That is, until you learn what happens next. Your own policy has a provision for accidents involving uninsured motorists. Stolen vehicles fall into this category. You should, therefore, check your policy to see what limits you have paid for as far as this part of your plan. Saving a few pennies on an insurance premium could hurt you in the long run. The minimum of $15,000 is next to nothing if you are hurt because of an uninsured or underinsured motorist.
More on Uninsured/Underinsured Motorist Coverage
The bottom line is that uninsured/underinsured motorist coverage is for your benefit. Here are some other cases when you may need to use this part of auto insurance plan:
- Involvement in a hit and run accident where the other driver is at fault
- Accident with driver who only has a Special Automobile Insurance Policy (SAIP)
- Motor vehicle crash with someone who is uninsured
- Negligent driver only carried nominal insurance, which is less than you have elected for Underinsured Motorist Coverage
- Motor vehicle operator forced you off the road and left. It is not necessary for there to be contact with the other vehicle to make a claim under your policy.
One of the best things you can do for yourself is to ensure you are adequately insured. The preceding examples can happen to anyone.
Let Us Review Your Policy
We can help make sure your car insurance coverage is in order. At the Law Offices of Beninato & Matrafaljo, we believe helping our clients in their quest for a peace of mind. Give us a call to set up a review of your car insurance policy.
Read the next blog: [The Downfalls of Lying When You Purchase Car Insurance]. To read the previous post in this series: [What You Need to Know about NJ’s Auto Insurance Threshold Law]