No one imagines getting into an accident, but that doesn’t mean you can afford to ignore the possibility that it will happen to you. By carefully evaluating your insurance coverage, you can ensure that your policy will adequately protect you in case of an accident. More importantly, you won’t miss out on the help you need due to inability to pay.
Step One: Check Your Deductible
The deductible is the amount you will need to pay in the event of an accident. You, personally, must pay this amount before your insurance kicks in. In some cases, you’ll need to pay it directly. In others, your insurance company may simply pay out the remaining amount owed to you to fix your vehicle. If you know you’re going to struggle to come up with the deductible, consider amending your policy for a lower deductible, even if it means paying a higher monthly premium. Remember, a higher monthly payment that you can pay for is far better than a repair bill you can’t afford.
Step Two: Evaluate Coverage
What does your auto insurance policy actually cover? Are there certain types of damage that it doesn’t? For example, are you covered in the event of theft? What about damage caused by an uninsured motorist without the ability to pay? Carefully evaluating your coverage won’t just help you add protection in weak areas—it will also help you understand exactly what to expect from your insurance company in terms of payments. For example, some car insurance companies offer roadside assistance or towing. A quick call to one of their providers will mean that you don’t have to pay towing costs for your vehicle personally, and that your insurance company will reimburse you if you end up stuck.
Step Three: Check Your Maximum Payout Amount
Many insurance companies avoid paying the full amount needed to recover from an accident by choosing not to pay out more than a certain amount specified by your contract. Take a careful look at this amount. Where does your coverage max out? Where are you going to struggle in the event of severe damage? Make sure you understand the payout maximums for all types of coverage under your policy, so it doesn’t catch you off-guard. Also, make sure your maximums will cover you fully in the event of a serious repair bill. You don’t want to discover you don’t have the necessary coverage after rear-ending a BMW or sideswiping a Jag!
By carefully evaluating your car insurance coverage, you can greatly improve your protection in the event of an accident. This vital coverage will help ensure that you don’t end up having to pay out of pocket for damages caused purely by accident and get your vehicle up and running as quickly and efficiently as possible. You could also lower your premiums by making sure that you are not paying for coverage you don’t need.
If you suffered injuries in an accident, contact an experienced accident attorney as soon as possible. Contact Brauns Law, PC at (404) 418-8244 for help working through complicated insurance claims, or to learn more about protecting your rights and staying safe.