If you are ever involved in a car accident, having the right insurance could be critical to surviving the financial hardships that an auto accident could bring to you and your family. Having the right insurance will protect your property, help with the repair or replacement of your car, and protect your well-being by assuring that you get the best and immediate medical care for your injuries. When it comes t auto insurance coverage, what you elect is important.
Choosing the right auto insurance could be confusing and difficult. You may be left wondering: What coverage selections should you elect? Should you have excess coverage? The answer to these questions ultimately depends on your total amount of assets and how much you can afford to pay for insurance.Your policy should cover you in the event that you are involved in an accident. If you select a low policy, your medical bills could cost more than your elected policy coverage and you could be on the hook for expensive medical bills. You also want to protect your assets in the event if you were to be sued. Having a policy that falls short on coverage could leave your home, business, or other assets in financial trouble.
In New Jersey, you can select from two different policies when choosing your insurance coverage; a basic policy or a standard policy. (Click here for more info on basic and standard policies.) A basic policy is significantly cheaper and has less coverage than a standard policy. If you choose a standard policy, you can also elect additional coverage options to protect you, your family, and your assets in case of an accident. For more detailed information on auto insurance coverage options in New Jersey, order one of Mr. Ghabour’s books on auto insurance or check out the New Jersey Auto Insurance Buyer’s Guide from New Jersey’s Department of Banking and Insurance.
Another option to consider when electing your auto insurance policy is the amount you want to pay for your copay and deductibles. When it comes to co-pays and deductibles, you will ultimately responsible to pay for what you elected on your policy. Co-pays and deductibles are what you agreed to pay in the event you need medical treatment or how much you are required to pay for your car to be repaired. To find out what your co-pay and deductibles and policy limits look at your Declaration Sheet.
If you have been involved in an accident, it is important to seek help from a qualified personal injury attorney. Call Joseph M. Ghabour & Associates, LLC today to discuss your case.