248 ReviewsWhat Are the Different Types of Insurance Policies?
Below is a list of the different types of insurance policies and how they can apply to a personal injury claim.
Auto insurance
Car insurance covers damages and injuries resulting from automobile accidents. It typically includes liability coverage, personal injury protection (PIP), and coverage for property damage.
Health insurance
Health insurance provides coverage for medical expenses and treatments related to injuries, illnesses, and medical conditions.
Homeowners insurance
Homeowners insurance protects against damage to your property, such as structural damage or theft, and may cover liability for accidents that occur on your property.
Life insurance
Life insurance offers financial protection to beneficiaries in the event of the policyholder’s death, providing a death benefit.
Disability insurance
Life insurance offers financial protection to beneficiaries in the event of the policyholder’s death, providing a death benefit.
How Does PIP Insurance Work in a No-Fault State?
In a no-fault state, insurance plays an important role in compensating accident victims for their damages. The concept of no-fault insurance means that regardless of who caused the accident, each party’s own insurance company is responsible for covering certain expenses, up to a specified limit.
Below, you’ll find how insurance can cover accident victims’ damages in a no-fault state:
Personal injury protection coverage
No-fault states typically mandate drivers to carry PIP coverage as part of their auto insurance policy. PIP coverage is designed to swiftly provide payment for medical expenses and financial losses, regardless of fault. It includes medical bills, lost wages, and other specified costs.
Swift compensation
PIP coverage ensures accident victims promptly receive compensation for immediate expenses, without the need to determine fault or engage in prolonged legal battles.
Economic damages
PIP coverage primarily reimburses economic damages, encompassing medical bills, hospital fees, rehabilitation expenses, and lost income. These are quantifiable monetary losses.
Non-economic damages
Although PIP primarily focuses on economic damages, in certain cases, accident victims may be able to pursue non-economic damages like pain and suffering or emotional distress if their injuries meet specific criteria outlined by the state.
Coverage limits
PIP coverage comes with limits. Once these limits are exhausted, individuals might need to explore other avenues to seek additional compensation. Moreover, PIP might not cover all types of damages, particularly if they exceed the policy limits or fall outside the scope of coverage.
Optional coverages
Individuals in no-fault states have the option to purchase supplementary insurance coverages beyond PIP, such as medical payments coverage or uninsured/underinsured motorist coverage. These extra options offer added protection and compensation in more serious accidents.
Liability claims
If damages surpass PIP coverage limits or meet specific criteria, individuals may have the option to file a liability claim against the at-fault party. This involves establishing negligence or fault on the part of the other driver.
How Can a Personal Injury Lawyer Help After An Accident?
A personal injury lawyer at Friedland & Associates can help you pursue compensation from insurance companies to recover the damages you deserve.
Our experienced attorneys can:
- Review your insurance policies to determine coverage and benefits.
- Negotiate with insurance companies on your behalf to ensure you receive a fair settlement.
- Gather evidence, including medical records and accident reports, to build a strong case for compensation.
- Handle communication with insurance adjusters to protect your rights and interests.
- Provide legal guidance throughout the claims process and legal proceedings, if necessary.
Contact Us Today!
If you’ve suffered severe injuries and were involved in an accident, at Friedland & Associates, our dedicated team of personal injury attorneys can guide you through the process of pursuing compensation from insurance companies.
Contact us today to schedule a free consultation to discuss your case and explore your options.
