Two Car Insurance Coverages You Should Have Due To The Coronavirus COVID-19 Crisis

21 Mar Two Car Insurance Coverages You Should Have Due To The Coronavirus COVID-19 Crisis

We are in uncertain times right now due to the Coronavirus, also known as COVID-19. As times begin to get tougher, sadly, people tend to let things go often times due to financial restraint. One of the first things they decide to let go of or lessen is their car insurance coverage. Even though it is a state law in Florida to have certain car insurance coverages, due to times of financial stress, individuals often let their policies lapse. Therefore, it is up to you to protect yourself and your vehicle. How would you do that? By making sure your car insurance policy includes these car insurance coverages:

Uninsured/Underinsured Motorist coverage and Collision coverage

How Does Uninsured/Underinsured Motorist Coverage Work?

Underinsured/uninsured motorist coverage works in two ways. The first is if the at-fault party is uninsured. That means they do not have bodily injury coverage which is not required by the State of Florida, or their policy lapsed also leaving them with no coverage for you to recover. At that time, if an accident were to happen in regard to one of these scenarios that left the at-fault party with no bodily injury coverage, if you elected it, you would be able to utilize your uninsured motorist coverage to coverage your damages. These damages would include but are not limited to medical expenses, lost wages, pain and suffering, future medical expenses, and any other injury-related damages you may have.

Now, if the at-fault lowered their coverage due to financial difficulties during the coronavirus crisis to an amount that would not cover your damages, you could again use your underinsured motorist coverage to cover the additional damages. For example, say your medical bills are $40,000.00 not including lost wages, pain and suffering, and future medical expenses. The at-fault party has only $10,000.00 in bodily injury coverage but you elected to have $50,000.00 in underinsured/uninsured coverage. You could attempt to recover the $10,000.00 as well as your underinsured motorist coverage of $50,000.00 in order to properly compensate you and cover your damages. Remember, this is just an example. Car accident recoveries can vary and you should contact a qualified and experienced personal injury attorney to review your claim with you so they can help recover everything that you deserve.

As I mentioned above, underinsured/ uninsured motorist coverage is not required in the State of Florida. Therefore, especially during these uncertain times with the coronavirus COVID-19 crisis, you should be sure to protect yourself and your loved ones by making sure that you have it on your policy. During difficult times, it is never good to skip out on insurance coverage because it could cost you heavily in the end.

How Does Collision Car Insurance Coverage Work?

Collision coverage can be used when you are involved in an accident and there are not enough monies to cover the cost of repair or replacement of your vehicle. Typically, there is a deductible so you will want talk to your adjuster about what deductible works best for you. In Florida, you are required to carry $10,000.00 in liability coverage which can only be used to cover the cost of repairs or replacement of the other party’s vehicle if you are at fault. If you are not at fault, the at-fault party is supposed to have $10,000.00 in liability coverage to cover your vehicle’s repair costs.

However, if you drive a vehicle valued at $25,000.00, that is not nearly enough if it is deemed a total loss after an accident. You would be on the hook for the difference if you have a loan or would be out that money beyond the $10,000.00. Moreover, in relation to a concern with the coronavirus COVID-19, if someone lets their policy lapse, there will be no coverage to cover your vehicle, not even the $10,000.00. Therefore, it is prudent to obtain collision coverage to cover the cost of your vehicle damage should there be an accident. Otherwise, you may be personally on the hook to repair or cover the cost of your damaged vehicle.

You Must Protect Yourself

During trying times like these, it is up to you to protect yourself, your family, and your finances. Be sure to contact your car insurance company to be sure that you have both underinsured/uninsured motorist coverage and collision coverage, especially during the coronavirus COVID-19 crisis. If you have any questions, always feel free to reach out to me. I want to make sure you have the knowledge about some of the most important coverages you should have if an accident occurred.

Experienced Car Accident Attorney

I understand that the process after getting into a car accident can be difficult and stressful. You probably have a lot of questions and very few answers. Allow me to be there for you every step of the way. I offer a FREE no-obligation consultation and will review your accident claim with you personally at one of the office locations in Tampa, Zephyrhills, or Saint Pete. Cannot make it to me? I will come to wherever is convenient to you at NO charge. You deserve to be compensated and I want to get justice for you!

Contact Car Accident Attorney Kevin L. Sullivan II TODAY at (813) 598-4868 for a FREE no-obligation consultation. I look forward to assisting you with your claim!