How Insurance Policy Limits Affect Accident Settlements
In most accident cases an insurance company will be responsible for the settlement negotiated by the plaintiff’s attorney or awarded by a jury. Accident cases may involve a car accident, slip and fall, boating accident, playground accident or any number of other situations.
If you or a loved one was injured in an accident through no fault of your own, you may wish to seek the services of a personal injury lawyer who can talk to you about your rights. If you have a case then he or she will fight for justice and a settlement on your behalf. You pay nothing up front.
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What is a Personal Insurance Policy?
Car accidents can wreak all kinds of havoc on physical health and cause disruptions to one’s ability to work and earn money. Most people carry car insurance (it’s the law) but many may not be aware that they can add a Personal Insurance Policy (PIP). PIP is available in most states and is even required in some. Its purpose is to cover certain expenses or loss of income in the event of a car accident. PIP is often called “no-fault” coverage because it is designed to be paid regardless of who is at “fault” and a claimant’s insurance premium should not increase due to a PIP claim.
It is important to understand that even if you have a health insurance policy, you could still benefit from a personal insurance policy. A PIP can help to pay for gaps in your health care plan such as deductibles.