The Insurance Policy Declarations Page: Understanding Your Policy After An Accident

It probably comes as no surprise that you need to understand what kind of benefits you have under your own insurance policy. You might be thinking that because you didn’t cause the accident, your insurance doesn’t need to be involved at all. Well, that would not be accurate. In Florida, and other states known as “No-Fault States,” it will still be your own car insurance that pays first for your medical bills. Also, if the person who hit you has no insurance, or at the very least, inadequate insurance, you need to know if your own policy can pick up the slack.

 

The Insurance Policy Declarations Page

What you need to do is request a copy of your Insurance Policy Declarations Page. This page will spell out exactly what benefits you are entitled to with your car insurance. Your Insurance Policy Declarations Page will look something like the below image. And, before you look at it and think, “well, this doesn’t help me at all,” fear not. We will cover what each of these terms means below.

Insurance Policy Declarations

 

Bodily Injury

This type of insurance does not protect you or your car directly. Bodily Injury comes into play if and when you cause an accident and you injure or kill someone while driving your car. Bodily Injury protection will also make sure your car insurance will provide a legal defense for you if another party files a lawsuit against you because of an accident you caused. So, let’s say you cause an accident and as a result, two other people are seriously injured. Based on the sample Insurance Policy Declarations Page above, your car insurance will pay each of those people a maximum of $100,000 for their injuries (and will provide a legal defense for you up to those amounts).

 

Property Damage

This type of insurance will pay to fix someone else’s property which you damaged as a result of an accident. For example, let’s say you hit another car and caused $20,000 worth of damage to the car and $10,000 worth of damage to a fence. Using the sample Insurance Policy Declarations Page above, your car insurance will pay for all of those damages (with $20,000 to spare). Property Damage coverage will also provide a legal defense if the other party files a lawsuit against you because of the damage you caused.

 

Personal Injury Protection

This type of coverage usually pays for the medical expenses of the injured driver and passengers in your car. If you are in a “No-Fault” state like Florida, it doesn’t matter who caused the accident. Either way, the Personal Injury Protection coverage will pay for your medical bills first (before your health insurance comes into play). Using the example above, Personal Injury Protection will pay up to a maximum of $10,000.

 

Basic Medical Expenses

In the sample Insurance Policy Declarations Page above, it says “80%.” What this means is that the Personal Injury Protection coverage will only pay 80% of the medical bills (up to a maximum of $10,000). So, if you have a medical bill for $100, the Personal Injury Protection coverage will pay $80 and you are responsible for the remaining $20.

 

Basic Work Loss

Basic Work Loss coverage reimburses you for the days you missed from work. In the sample Insurance Policy Declarations Page above, it says “60%.” What this means with Basic Work Loss Coverage is that if you miss work as a result of an accident, your insurance will reimburse you for the money you lost at 60%. So, if you make $100 a day at work, your insurance will give you $60 for each day you missed.

 

Medical Payment Coverage

This is also known as “Med Pay” or “MPC.” Medical Payment Coverage pays for your medical bills over and above what Personal Injury Protection pays. For example, if you have a $100 medical bill and your Personal Injury Protection paid 80% of it, the Med Pay coverage would pay the remaining $20.

 

Uninsured Motorist Bodily Injury

This is also known as “UM” Insurance. This pays for your injuries caused by an uninsured driver or an underinsured driver (and sometimes even a hit-and-run driver). Let’s say you get hit by a car which only has $10,000 worth of Bodily Injury coverage. However, your injuries are worth far more than $10,000. Your UM Insurance will pay your for your injuries over and above what the other insurance will pay you.

 

Comprehensive

This type of insurance coverage pays for losses resulting from incidents other than collision. For example, Comprehensive insurance would cover damage to your vehicle if it was stolen, stuck in a flood or caught in a fire.

 

Collision

This is the type of coverage which pays for your car repairs after you were in an accident.

 

Seek Professional Help from Our Experienced Personal Injury Attorneys

The best thing you can do if you have been hurt because of someone else’s actions is to contact an attorney. The Ticktin Law Group handles all Personal Injury cases on a contingency basis, meaning that you don’t pay us anything unless we recover money for you. To see if you have a Personal Injury claim, complete our contact form or call (561)232-222 to schedule a free consultation with an experienced Personal Injury lawyer. Need help reporting your accident and understanding your insurance policy? By going over all the facts of your claim, you will get a much better idea of the insurance you have and the steps to take.


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