New Year, New Insurance

Written By Lawrence S. Lapidus

We’re already into March, and with the new year comes new resolutions and new routines. And while the beginning of 2020 may have had you starting a new diet or exercise plan, there may be something you didn’t change that is well worth your consideration. The beginning of a new year is also the perfect time to re-examine your current auto insurance policy. You may have “full” coverage, but that doesn’t necessarily equate to adequate coverage if you’re involved in a car accident with injuries.

What Part of Your Policy Should You Consider Upgrading?

While you should do a full review of your entire auto insurance policy, we suggest you start with looking at Personal Injury Protection, also known as PIP. You may have waived it when you purchased your insurance policy, which is NEVER a good idea.

NEVER waive PIP in Maryland. It is relatively cheap and a great benefit for Maryland residents.  If you live in DC or Va, do purchase DC PIP or VA Medpay; the insurance law does not require consumers to carry it, BUT IT SHOULD ABSOLUTELY BE PURCHASED.  According to wallethub.com:

“Personal Injury Protection (PIP) insurance covers medical expenses when a car accident results in injuries to you, other drivers listed on your policy, members of your household and your passengers. These expenses can include medical bills as well as some other expenses that are not typically covered by health insurance such as lost wages.”

Our lawyers here at The Lapidus Law Firm have provided legal guidance to numerous clients that involves utilizing their PIP insurance, and it has been, to say the least, what made a huge difference in the outcome of their insurance claim. 

Also, consider increasing your liability insurance. Liability insurance includes both bodily injury liability and property damage liability. So, if you’re at fault in an accident that injures another person (or even worse), your bodily injury liability covers the other party’s medical bills, funeral expenses, loss of income, and more. Property damage liability covers you should you be responsible for the damage of someone else’s vehicle, property, home, and more. In the event you’re sued, liability covers you there as well. 

But it is important to note:  liability carriers aren’t always fair when it comes to covering damages.  In fact, some carrier will outright deny legitimate claims from loyal customers who have been injured. Of course, you would then want to contact your personal injury lawyer here at The Lapidus Law Firm for legal guidance, but having adequate coverage to begin with is always your best bet.

Why Upgrade?

Because for as little as a few extra dollars a month, you can protect you and your family from possible financial disaster. If that sounds melodramatic, consider the alternative. Is it really worth the risk?  If you have insurance already, review that policy, go BEYOND the minimum requirements, and in exchange, get extra financial protection and peace of mind.

How Do You Upgrade?

It’s very easy–and affordable–to upgrade your auto insurance policy’s liability coverage. Simply contact your insurance company to see what kind of premium increase you’re looking at. It can wind up costing just a few extra dollars per month, which is a very small price to pay to upgrade your coverage to something at or close to $100,000/$300,000/$100,000.  If you’re ever an accident with injuries, you’ll be elated that you made this upgrade.

New Year, New Insurance

Why should you upgrade your insurance? Aside from the obvious financial reasons, there’s a simple answer…auto accidents occur way too frequently in the DMV area, and not to fully protect yourself just doesn’t make good sense.

Between more commuters behind the wheel and the distracted driving that continues to plague the roads, it’s more important than ever to make sure you maximize your auto insurance’s PIP and liability coverage now, even if it does cost you a little bit extra per month. And with a new year upon us, it’s the perfect time to revisit your policy–not just this year, but every year.

Safe travels, and Happy 2020 from the Auto Accident Lawyers with The Lapidus Law Firm!

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