Tag: automobile insurance policy

Automobile Insurance Policy: Five Things You Should Know

While driving is one of those typical, daily activities that many of us almost perform on autopilot (along with owning an automobile insurance policy), there can be a lot of details involved behind the scenes in getting to that point—unless you are a fan of public transportation, or one of the individuals in the growing population of those dependent on private transportation services becoming so popular today. Once driving privileges have been established, however—and some millennials today are holding off because there are so many other options—there are substantial details to attend to such as finding a suitable vehicle, attaining the capital to buy one or finding financing, and procuring car insurance.

If you are buying a car, but did not have much time to think ahead, you may find yourself in a hurry to get insured before driving off the lot. Or perhaps you have been price-hunting and are thinking about switching insurers. Car insurance may be easy to get, but there are numerous features you should consider before taking on a new policy and submitting payment:

  1. How to shop wisely, being aware that insurers and their rates, customer service, and methods and timeliness for claims payouts can vary widely. Be sure you are going with a reputable company that has a track record of treating their policyholders in good faith rather than issues with delays, lack of comprehensive investigation techniques regarding claims, or denying cases unreasonably. While you may just be in a hurry to get your insurance and carry on with your day, that policy could be the center of your focus in the future if there is an accident or damage to your property.
  2. What is required in terms of liability insurance, and how far beyond that you should go. In California, drivers must have the following: $15,000 for injury/death to one person, $30,000 for injury/death to more than one person, $5,000 for damage to property. Choosing minimum requirements may be easy enough to do, and pay for, but consider the amount of assets you need to protect and have a comprehensive conversation about how much liability you really need in the case of catastrophe or legal vulnerability.
  3. The need for comprehensive and collision insurance. Discuss the worth of your vehicle with the insurer, as well as understanding what a potential lender will require of you.
  4. Medical payment benefits (Med Pay) and personal injury protection (PIP), neither of which are required in California. This coverage is usually recommended whether you have health insurance or not, as medical bills in the case of car accident injuries can be exorbitant.
  5. Uninsured motorist coverage. Again, while this is not required by California, it pays out if you or a passenger are injured in a car accident due to negligence by another party who does not currently have insurance. Uninsured motorist property damage coverage is an option too.

If you suspect your insurance company may be denying your claim in bad faith, contact the attorneys at the Bolender Law Firm. If a dispute over a claim cannot be easily resolved through a call or written communication, our attorneys will advocate on behalf of policyholders through litigation, arbitration, or non-binding mediation. Our attorneys are experienced in representing clients in state and federal courts, at both the trial and appellate level. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!