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How to Protect Yourself in a Car Accident

How to Protect Yourself in a Car Accident

Posted By The Weinstein Firm, LLC || 31-Jul-2015

When you are seeking to protect yourself in the event of a car accident, there is a lot more to consider than just your physical safety. With issues such as liability and insurance coverage to think through, it can be easy to feel overwhelmed when trying to figure out how to remain financially sound after a wreck. The good news is that making sure that you are protected financially isn’t difficult and following these simple steps can help give you peace of mind.

Protect Yours Finances with the Proper Insurance

The best way to protect yourself in the event of an accident is to get the right type of car insurance.

There are two kinds of coverage’s you can select when buying car insurance:

  • Liability coverage—Protects the people in a car wreck that you cause
  • Uninsured motorist (UM) coverage—Protects you in a wreck that other people cause

It can be very beneficial to obtain UM coverage that is equal to the liability coverage you are paying for. Keep in mind, insurance companies may try to convince you to reduce the amount of UM coverage you purchase. It may sound like a good idea to save some money, as you will be reducing the price of your premium. However, you should think about this option before accepting it. While you may be saving a couple of dollars now, you could be losing thousands of dollars if an accident were to occur. Reduced UM coverage may not be enough to pay for all of the damages of an accident, leaving the rest of the expenses on your plate.

About Medical Payments Coverage

Another important coverage option that you might want to consider is medical payment coverage.

There are many benefits to having medical payment coverage, like:

  • Covering medical bills, even if you are liable
  • Premiums won’t increase when you make claims
  • Covering the other people in your car as well
  • Having small premiums

These small premiums are often less than $20 per year for a coverage of $10,000. For such a small annual price, you can ensure that not only your medical bills will be paid for, but also the people in your car if an accident were to occur no matter who was driving.

Strategize With Your Coverage Plans

If you want to ensure that you are safely protected, plan ahead with your coverage limits in mind. Remember, insurance companies only have to compensate car wreck victims up to the amount of their insurance coverage. If it isn’t enough, you could pay for an accident that wasn't your fault!

For example, if the person who causes the car wreck only has $25,000 in coverage and you have $50,000 in medical bills, you will have to find another way of paying for half of your bills. However, if in the same situation you had UM coverage for $100,000, you would get $25,000 from the other person’s insurance and your UM coverage would cover the rest of your eligible expenses.

If you have questions about your financial safety after a car accident, contact The Weinstein Firm, LLC to learn more. Our lawyers can help you recover fair compensation.