Insurance is a financial and life necessity few of us enjoy having to deal with on any level. It can be costly and adds another ongoing bill to our household budget. Also, no one really wants to think about all that can go wrong, but risk protection is vital to your finances and future. This is not a type of consumer situation you walk into blindly though. Education is vital so that your needs are accounted for in protecting yourself, your family, and your property.
- Find an insurance agent you can trust. Although it is possible to go online and purchase coverage, as well as talk to someone on the phone, with a personal insurance agent, you can establish a relationship that may continue over many years – and you may have other lines of insurance that need to be also discussed in the beginning and over time as your portfolio expands.
- Know what you are getting into if you only purchase liability insurance. Limited in scope and the most basic of insurance, liability covers the other party’s vehicle damage if you are found negligent. Usually, lenders will require that you carry comprehensive insurance if you still owe money on your car, but even if you do not, you may not want to drop it entirely. The best way to decide such a thing is to consider how much you would be able to pay out of pocket in the case of an accident.
- Consider personal injury protection (also known as PIP). Again, you may be hoping to save as much as possible on car insurance by going with the bare minimum but think about what could happen—and the devastation that could follow financially if you were not properly protected. With personal injury protection, both you and your passengers have coverage for medical expenses after an accident, and the insurer may even cover lost wages.
- Uninsured/underinsured motorist coverage – although the name makes it self-explanatory, and many decline to carry this insurance, to do so may be where you open yourself up to the largest risk of all, considering how many drivers in the US fail to purchase car insurance, or more commonly, have let it lapse. With this coverage, you have assistance if you are struck by another car in traffic by another driver who is not covered or only has minimal coverage at best.
- Be aware that all insurance companies are not created equal. Aside from just shopping around regarding quotes, do your research and make sure the policy you are thinking about buying does not come from a company that has routinely been involved in bad faith practices. Some insurance companies can be merciless when it comes to paying out claims and taking care of their clients. Because of this, you should also be merciless in your selection process. This could have an enormous impact on you, your physical health, and your finances later.
If you have been injured in an accident due to the negligence of others, this is not the time to go it alone! Please call the law offices of Andrew ‘Pike’ Piekalkiewicz, PLLC as soon as possible at (713) 748-7453 or visit AttorneySgtPike for a no obligation case review.