Selecting an automobile insurance policy can be as daunting as purchasing a home computer. Who do you purchase an insurance policy from? What is covered? How much will the insurance cost me? Most importantly, what type of coverage should I buy? The first time you find out about what coverage you have purchased may be when you go see your lawyer after a motor vehicle accident. At that point, you cannot make any changes to your policy to cover the accident that you were just involved in.
A little proactive review, can better prepare you when you do have the unfortunate automobile accident. The first item one should check is your Personal Injury Protection Benefits section of your insurance policy. This is the part of your insurance policy that covers your medical bills in the event that you are involved in an accident. The State of New Jersey is called a “no-fault” state. When you are involved in an accident, your own automobile insurance policy will provide you with coverage for your own medical treatment regardless of who is at fault for the accident.
In 1998, the Personal Injury Protection statute was amended by the State of New Jersey to permit an insured person to purchase reduced medical expenses under the standard amount of $250,000. The Statute permits an insured to reduce the “standard” medical expense amount to $150,000, $75,000, $50,000 or $15,000 per person per accident. A person is allowed to purchase insurance without any medical expense coverage.
We are recommending that you select the limit of $250,000. Why? Medical treatment has become quite expensive in the State of New Jersey. Any of the lesser amounts, may limit your ability to obtain medical treatment in the event that the lower limit is exhausted. Any unpaid medical bills above the limit would have to be included in the lawsuit against the driver of the automobile. This will delay getting these medical bills paid. This could lead to collection notices, lawsuits and/or judgments against you. Finally, the cost of the premium increase is minimal with a limit of $250,000 as opposed to a $15,000 selection.
This is a first in a series of Blogs dealing with your automobile insurance policy.
New York and New Jersey Automobile Accident Lawyers
If you are seriously hurt in an Automobile accident, the attorneys with Ginarte may be able to help. Contact our New York and New Jersey car accident lawyers today for a consultation on your case by calling (888) GINARTE.
Sources:
New Jersey Statutes