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Is the existence of insurance coverage important?
- March 29, 2017
Insurance is perhaps the most important aspect in any car accident case. It’s the way in which damages are paid for, medical bills are paid for, and it’s how you end up with a settlement or lawsuit victory over a driver who caused your accident and changed your life forever. It’s true that insurance doesn’t cover everything. Most states require policyholders carry specific insurance, and many policies only require a company to cover a certain amount of damage and not the rest. It’s a difficult situation only when your medical bills exceed the maximum payout amount.
There are many reasons insurance is so important, and it’s imperative you understand what those are. If you’ve been involved in a car accident, you want to understand what it means to file an insurance claim, how it works, and why it’s so important.
Your insurance policy is important for several reasons. The first is obvious. If you hit someone and haven’t any insurance, that person can come after you to pay for the damages to their car as well as their medical bills. It’s also important if you are sued because of an accident. Your insurance is also important because you never know if other drivers have insurance.
If you are hit by a driver who does not have insurance, you’re going to file a claim with your own insurance company. They’ll rent you a car, they will pay for the damages and repairs to your car, and they will work to pay your medical bills.
If you live in a no-fault state, you’ll use your insurance policy no matter who is to blame for the accident. The law in no-fault states requires you go through your own insurance at all times, and only go through the insurance company of the at-fault driver if you decide to file a lawsuit.
The Other Driver’s Insurance
Their insurance doesn’t matter to you at all if they are not to blame. It does matter to you if they are to blame. If the driver who caused your accident does not have insurance, you will find yourself in some trouble if your medical bills exceed the maximum payout amount allowed by the insurance company you use. It’s difficult to obtain compensation from a settlement or lawsuit from a driver without insurance since it’s typically their policy that compensates victims.
If the other driver does have insurance, you’ll go through them to pay for the damage to your car. If your medical bills exceed the amount they are required to pay, this is when you file a lawsuit. If you are not to blame, it is not your job to pay for your own medical bills, your own lost wages, and anything else that might put you in a financial situation or burden you did not have prior to this accident.
You can sue someone who doesn’t have insurance, and a judge might issue a judgement. If this occurs, you might never receive any money. The judgement is usually not collectable until there is an insurance policy in place unless a judge places a lien on their personal property. If this occurs, you will receive payment if the at-fault party ever sells their property. They’re required to pay you from the profit before they collect any of their own money for their own use.
This is another form of insurance many people forget about when it comes to accidents. You are required to use your insurance to cover your medical bills when you are injured in an accident. The insurance coverage you carry helps lower your bills, it helps to make them more affordable, and it helps you afford the bills when you’re waiting on compensation from the other party’s insurance company.
Insurance is always important in a car accident, especially if the damage exceeds the cost of your deductible. If you have any questions about car accidents and insurance coverage, it’s time to call a personal injury attorney to discuss your case. There are many rights victims are unsure they’re entitled to, and being educated about those rights is what makes the situation a bit easier.