Auto Insurance Basics
An auto insurance policy is a package of six different types of coverage each with its own premium. A motorist can eliminate certain types of coverage although most states require that at least coverage for bodily injury and property damage be carried. The six types of coverage usually found in an insurance policy are: liability insurance, collision insurance, comprehensive coverage insurance, medical pay or expense insurance, uninsured motorist, and UIM insurance, no-fault insurance, or personal injury protection under no-fault insurance.
Liability insurance coverage: Liability insurance covers the owner of a vehicle against any damage or legal wrong he or she may cause from negligent operation of their vehicle. Liability coverage is regarded as the most important policy of auto policies and is the only compulsory auto coverage in most states. Even in those states which do not have a compulsory auto insurance law that makes it compulsory to maintain an automobile liability insurance policy, there are typically financial responsibility laws. Financial responsibility laws present the threat of a financial crippling judgment award in the event of an accident. These laws have had the effect of making the purchase of liability insurance a virtual necessity for most drivers. Liability insurance consists of two basic components: the bodily injury liability part and the property damage liability part.
Bodily Injury Liability: bodily injury liability coverage is the part that pays for any bodily injury related damages the insured party may become legally obligated to pay to a person injured or for someone killed in an accident involving the insureds vehicle. People that are injured by an insured can collect against their coverage to pay for their medical expenses, pain and suffering resulting from bodily injury, lost wages, and other miscellaneous expenses.
Property Damage Liability: the property damage part of your auto liability insurance policy is generally combined with the bodily injury part in your premium payments. Basically, this is the coverage that pays out when the insured party damages someone else’s property. Usually, vehicle damage would be covered under this part of the policy as it is concerned with compensation for property related aspects of the damages the insured may become liable for. This is distinct from the bodily injury part of the coverage which, on the other hand, is concerned with the injury related aspects of the damages .
Over 19 Years of Experience and Millions in Recoveries! Knowing the next steps to take after you or someone you love has been injured is key to protecting your legal rights and safeguarding your right to compensation. If you’re the victim of an accident, the injury attorneys at Suarez & Montero can help! We understand that accidents can have a huge impact on you and your family. At the Law Offices of Suarez & Montero, you are never just another file or claim to us—you are part of our family and your well-being are just as important to us as if you were our own family. At Suarez & Montero, our injury lawyers have a proven track record of success when it comes to representing accident victims involved in all types of crashes. Our injury lawyers work with investigators, witnesses, and experts to obtain all the essential details of any accident to help put you in the best possible position to obtain compensation for your injury and damages. Our attorneys are ready to provide proven legal representation in pursuing your claim and stand ready to protect your rights. We are available 24/7 to give you a free, no risk case consultation. We serve clients throughout Florida including those in the following areas:
Miami-Dade: Aventura, Coral Gables, Doral, Fontainebleau, Hialeah, Homestead, Kendall, Miami, Miami Beach, Miami Lakes, North Miami, Tamiami, and Westchester.
Broward: Fort Lauderdale, Hallandale Beach, Hollywood, Pembroke Pines, and Weston; and Palm Beach County including Boca Raton, Lake Worth, and West Palm Beach.
