How Insurance Affects Auto Accident Settlements
Do not assume the compensation offer you first receive from insurance is the most you can get. Our attorneys have years of experience working with insurance companies to help our clients get the maximum amount of compensation.
Collision insurance is designed to cover damages to your vehicle regardless of fault. As long as your deductible is paid, your insurance company is required to honor your policy. After an accident, your insurance company will either pay for your car to be repaired or to replace the vehicle if it is a “total” loss. If a car is “totaled”, you will likely receive the actual cash value for your vehicle rather than the market replacement cost.
Replacement Cost - The full cost of replacing your vehicle.
Actual Cash Value - Replacement costs minus standard depreciation.
Medical Payments Coverage
Medical payments coverage is designed to pay for related medical expenses of both you and your passengers in the event of an accident. As with collision insurance, these policies are required to pay regardless of who is at fault. It is also important to note that this type of coverage applies whether you are driving your vehicle or someone else’s vehicle with their permission. It also covers both you and your family if you are injured as pedestrians.
Underinsured or Uninsured Coverage
Uninsured Coverage is designed to pay for your medical expenses and possibly financial losses if you are involved in an accident with an individual who has very little or no liability insurance.
Alexander Shunnarah Attorneys
If you have any questions about your coverage or payout after a car accident, call our attorneys today for a FREE consultation. We are trained in working with insurance companies to make sure you get the maximum you are owed.