Understanding Your “Full” Insurance After a Denver Auto Accident
December 11, 2015
If you believe all the advertisements you see on television and the innumerable, tiny ads on just about every major website on the net, insurance companies are altruistic entities who only have your best interests at heart. They talk about how inexpensive they are, and how you’ll be covered in the event of just about any imaginable catastrophe or accident that could befall the average human being. The truth, however, is not what you see from a talking amphibian or a personable sales lady with a tall hairdo. No, auto accidents in Denver aren’t always a cut-and-dry affair.
Insurance companies are billion dollar companies who are all-for-profit. They have shareholders to make happy, and they do this by paying out as little money as possible to those who make a claim. Part of their strategy is what is known as the myth of full coverage insurance. You may think you’ve signed up for Full Coverage, but in reality, what’s important is the amount of coverage you have in each category of your policy. You see, the insurance companies don’t want to sell you what you actually need; you need to ask for it.
These are the specific coverage items you should make sure you have on your Denver car insurance policy:
- Bodily Injury Insurance – This isn’t for you, but for someone you end up hurting in an accident where you are found to be at fault. If this isn’t part of your policy, or a part you don’t have much coverage in, then you could be the one paying for extensive medical bills, not just for yourself, but also for anyone else who was hurt as a result of the accident.
- Uninsured and Underinsured Protection – This type of coverage protects you if you happen to be injured by a driver who isn’t insured at all, or who has inadequate coverage for your needs. In cases like a hit-and-run where the one responsible is never found, this can save upwards of hundreds of thousands of dollars.
- Medical Payments – This specifies coverage for your medical bills as a result of an accident or crash that may not be covered by standard insurance.
In Colorado, insured drivers are required to carry only a minimum of $25,000 in Bodily Injury Insurance. Check your policy. If you only have $25,000, you could be on the hook for much, much more. $25,000 is usually an inadequate amount and could very well result in the injured person coming after your assets to make up the difference.
If you have been injured in an accident, and the person who injured you isn’t covered adequately, call 303-321-4878 (HURT) to set up a free consultation with Mark A. Simon, Attorney at Law. We will take a look at your case and let you know if you have further recourse you can take on behalf of your injuries. You shouldn’t suffer any more than you already have, and that includes financial suffering.