Every week we have seriously injured clients come into our office. Some times after an investigation we discover neither the at fault driver or our client have any insurance to go after. In many instances this is a result of people not understanding what type of insurance they have.
Whenever I first meet with a client I ask them what type of insurance they have. The client almost always responds with “full coverage.” However, “full coverage” is a term used by insurance companies but rarely do clients have as much insurance as they thought. No person can be fully covered. It is nearly impossible to insure and cover every possible scenario or outcome. Therefore, “full coverage” is never accurate and in most instances deceptive.
Insurance companies are in the business of making money. They want to charge as much money as possible for as little coverage as possible. The less coverage available the less the insurance company will be liable to pay. Most insurance companies refer to “full coverage” as the coverages mandated by state law. In Florida, the only auto insurance required by law is $10,000 of Personal Injury Protection (PIP) and $10,000 of property damage liability coverage. That is right under Florida law, drivers are not required to carry Bodily Injury insurance. In fact, many drivers do not carry bodily injury insurance. Therefore, full coverage in most instances should be called ‘minimal coverage’.
We always tell clients that they need to protect themselves with so many uninsured or under-insured cars on the road. Every Insurance policy has the option of adding what is called UM Insurance. UM gets its name from being Uninsured/Under-Insured insured coverage. UM coverage is the most important coverage a driver can buy. It protects yourself if the other driver does not have insurance or not enough insurance.
If you are seriously injured due to the negligence of another, and the at fault party has no insurance, you are going to have to pay for your medical treatment. Many times this upsets clients and they do not understand why they won’t be compensated even though they were not at fault. That is why it is important to ask your insurance company exactly what is and is not covered under your policy.
The first step of any injury claim is being protected before the accident ever occurs. Avoid being an injured party with no means to be compensated by taking steps to protect yourself.
With over 25 years of experience we can help you navigate the road of injury claims. If you or a loved one is injured in an accident contact our office for a free initial consultation (863) 299-1962.