Four Things You Need to Know About Your Auto Insurance

When an automobile collision occurs, you know it's important to contact your insurance company to report the collision. What you may not know is what your insurance policy actually covers.

In order to uncover how much your coverage provides for damages and injuries, start by looking at the "Declarations Page" of your policy. This is where you'll find the following:


Med-Pay coverage will pay your medical bills, regardless of fault; however, Med-Pay is not generally included in basic insurance policies and costs a little extra. Most med-pay policies pay up to $5,000 - $10,000 of your medical bills. In a study done by a global network of health insurance industries called the International Federation of Health Plans (PDF) it was reported that the daily cost of a U.S. hospital stay was on average more than $4,000. That could be a good portion of your med pay coverage.

How much money is available for victims of accidents in Indiana?

Uninsured Motorist Coverage

Because there are a number of drivers on the road with no automobile insurance, Indiana law requires insurance companies to provide uninsured motorist coverage in their standard policies. If you are hit by an uninsured driver, you can make a claim for personal injuries under your own insurance policy.

Underinsured Motorist Coverage

Similar to uninsured motorist coverage, underinsured motorist coverage applies in cases where the driver responsible for the accident has purchased the minimal amount of insurance necessary by law; yet, it doesn't cover all of your damages. Again, you can make a claim under your own insurance policy for compensation in such a circumstance.

Bodily Injury/Property Damage

Bodily Injury/Property Damage coverage pays claims made against you if you are at fault for an accident. This money is not available to you if you are injured, only to persons that you may have injured in the collision.

Understanding the difference between Med Pay, Uninsured, Underinsured and Bodily Injury/Property Damage is a good place to start when it comes to knowing what money is available after an automobile accident. Once your claim has been filed, you may need to do additional research before speaking with an insurance adjustor. Get a clear idea of exactly what your current and future health costs will be. The cost of recovery can add up quickly. Insurance coverage can be complicated and insurance policy language difficult to understand. Personal injury attorneys communicate regularly with insurance companies, claims adjustors, law enforcement officers and specialists. An experienced personal injury attorney at Tabor Law Firm is available to consult with you about your options at no cost. There's nothing wrong with letting an experienced attorney help you determine what your best course of action is after an automobile accident.