In the event of an auto accident, do you know what type of vehicle insurance you have? While we talk a lot about accidents that involve someone else's liability and seeking compensation from someone else's insurance company, there are times where your insurance policy might be important, too.
In understanding your insurance policy, it's important to understand the types of coverage that are typically available. First, there is collision insurance. Collision coverage is what provides for replacement or repair of a car or truck damaged in an accident. You might also have something called comprehensive coverage, which protects you against damages to your vehicle from acts of God, such as hail damage or a tree falling on your car during a storm.
Some people carry personal injury protection or medical payments coverage. These parts of the policy can cover some medical expenses for either you or your passengers. Typically, this coverage comes into play whether or not you are deemed liable for the accident.
Next, there is liability and bodily injury coverage. The previous types of coverage are parts of policies that pay for damages to your vehicle or for your injuries. Liability and bodily injury are parts of policies that cover damages for others if you are deemed liable for an accident. If someone else is deemed liable, then their bodily injury or liability coverage should pay for your damages.
But what happens when someone doesn't have insurance or appropriate coverage? Are you left paying for your own injuries and damages? There are actually several legal options in this scenario, and one might be dealing with your insurance company if you have uninsured motorists coverage. This coverage should kick in for such a case; if you are struggling to get your damages covered, consider talking with a Colorado lawyer about your options.
Source: Dummies.com, "Examining Auto Insurance Coverage," accessed March 18, 2016