Residents living in Maryland and Washington, DC are required to have vehicle insurance. You’ve followed all the laws and pay your bill religiously because you know the worst-case scenario: if you get into a car accident (whether it’s your fault or not), you may need to use your insurance so the cost of any property damage (your car) and/or injuries (to you or anyone in your car) is fully covered.
Thank goodness for your “full coverage” insurance policy, right?
Not so fast. You could be in for a not-so-pleasant surprise because when your insurance company says you have “full coverage,” that doesn’t necessarily mean they’ll pay for the costs associated with your accident.
What Does Full Coverage REALLY mean?
Vehicle insurance coverage can be tricky because just because an insurance company representative tells you that you have full coverage doesn’t mean your specific accident is covered in full. What “full coverage” really means is that you have all the minimum insurance coverages required by your state.
The term “full coverage” can be misleading for consumers, so the PG County Car Accident Lawyers at The Lapidus Law Firm have some advice that will clear up any future misunderstandings.
Talk to Your Insurance Company About Your Coverage
It may seem tedious but making one phone call to your insurance can make a huge difference in your finances if you get in a car accident in PG County or in a truck accident in PG county.
Do the math: if you have $10,000 coverage in property damage from your insurance company, and you still owe $15,000 on your car, that $10,000 in coverage isn’t enough to cover the cost of your car if you get in an accident…. and that’s assuming your insurance company will give you the full $10,000. They may not.
There are other factors to consider as well, such as how much your car is worth, how much the repairs will cost and if your vehicle deemed a total loss as the result of the accident.
For bodily injuries: if you have $5,000 in “full coverage,” that doesn’t mean your medical bills are covered beyond that $5,000 just because your policy says “FULL COVERAGE.” Your insurance company will not pay anything beyond what your policy says. And know this: medical bills are costly. The minimum required coverages you’re likely paying for each month are probably not enough to cover your medical bills if you are in an accident.
And who has to pay for what’s left after your insurance coverages run out? You.
Suddenly, your “full coverage” doesn’t sound so full anymore, does it? You need what PG County personal injury lawyers call (not “full coverage” but) ADEQUATE coverage. And put simply, that’s coverage that will cover all of your bills for property damage and injuries if you are in an accident.
How to Get Adequate Insurance Coverage
It’s simple: call your insurance company today and ask for the next level of coverage. You’ll be surprised at how little it costs each month. Just a few dollars more a month can get you thousands of dollars more in coverage, and it will make a huge difference in your financial circumstances post-accident.
PG County Insurance Lawyer
Whether you have adequate coverage or not, you still may need to reach out to a PG County Insurance Lawyer for help if you’ve been in an accident. Insurance companies are notorious for offering lowball settlements or denying claims outright.
If you’ve been in a car accident in PG County, call the PG County car accident lawyers at The Lapidus Law Firm for help. We’ll provide a free consultation to review your case. Call us today at (301) 605-4296.