Penalty flag: forgetting the most important document after a crash
A lot of things can occur when in an auto accident. Between the adrenaline spike, possible aches and pains, and escalating tensions between yourself and the other party, it can be easy to forget even simple information when under pressure. Always call to file a police report after an accident, since the officers are much better trained at getting the necessary details than you might be, and it should cover any information you may have missed. If injured, you also might want to contact an attorney to help represent you, such as Sachs Law Firm.
More importantly, knowing your own information and your own coverage is just as important. Most people likely don't know much about their own policy offhand, aside from the basics of who their vehicle is insured with, but the policy details can have a drastic effect on your options in the event of filing a claim.
Your declarations page is the most important document you have for getting an overview of your coverage. This is usually the cover page of your insurance policy, giving a brief synopsis of the vehicle covered, your personal information, and most importantly, your insurance plan. There are a variety of coverage options that may apply to a vehicle, and the limits on those options can vary.
Collision coverage is what people usually are referring to when they tell stories of getting their deductible back or only having to pay a flat rate for damages while their insurance covers the rest. Collision coverage covers the damages specifically to your vehicle in an accident, regardless of fault or liability. You are responsible for a deductible, which can vary depending on your individual policy and your insurance company's underwriting procedures, and allows you to file the first party.
PROPERTY DAMAGE LIABILITY
Property Damage Liability coverage is what covers you against damage you are responsible for to property that belongs to other people. This usually has a much higher financial limit in terms of a maximum payout than collision, but this can not be used for your damages. In most states, PD coverage is required by law, so if you do not have collision and the liability is on the other party, you may be able to file through their PD coverage.
Uninsured and Under-insured Motorist coverage covers you in the event the other driver is uninsured or does not have enough insurance to cover your damages. While not always mandatory, this coverage usually comes with most policy packages for auto insurance that has collision coverage.
PERSONAL INJURY PROTECTION
Personal Injury Protection, or PIP coverage, covers the medical expenses for injured parties up to a certain limit. There are two numbers when it comes to limits, the first being expenses per person, and the second being expenses per incident. PIP coverage only covers expenses of those in your vehicle, as well as pedestrians involved. This also applies to injuries sustained in the other vehicle, in that their PIP coverage will be their primary coverage. They may try to file suit for damages not covered by PIP though, such as pain and suffering. Again, if anyone is injured in an car accident, contact Sachs Law to help protect you.
The declarations page should tell you everything you need to know about your coverage and help figure out the best plan of action after an accident. There is a lot of information and it can get very confusing at a glance.
If you need any advice on your coverage or how to file, contact us today at (833) MVP-WINS. Let our team at Sachs Law guide you through the process, and allow us to help you seek the compensation you deserve.
Brett S. Sachs graduated from Michigan State University College of Law with Cum Laude Honors. While attending Michigan State, Brett was awarded for his service in the Michigan State University College of Law Civil Rights Clinic, where he represented prisoners of the Michigan Department of Corrections from injustices brought upon them. Learn more.
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