The Legal Examiner Mark The Legal Examiner Mark The Legal Examiner Mark search twitter facebook feed linkedin instagram google-plus avvo phone envelope checkmark mail-reply spinner error close
Skip to main content

We spend a lot of time at Abrams Landau Ltd. interpreting insurance policies for our clients, and explaining to them what these policies mean. Most people don’t really focus on their insurance coverage until it’s too late.

When an accident occurs, the first thing that often comes to mind after immediate medical care is “Do they have enough coverage to pay me for my injury, lost work time, pain and suffering?” The most important thing you can do to protect yourself and your family from an uninsured or underinsured claim is to make sure that you have enough insurance to cover a worst case scenario.

In today’s market, insurance agents and companies are constantly making the lowest bids possible in order to make the sale. It’s important to compare prices when purchasing insurance, but it’s really important to compare policies and coverage limits. Though insurance has become more and more expensive to get, additional coverage still comes at a more reasonable rate. Here are some examples:

A Geico policy for a family of four with coverage of $300,000 per injury/$300,000 per occurrence and $100,000 in property damage quote was $307.08 per month. This quote included underinsured and uninsured coverage. Adding a million dollar umbrella policy to this family’s profile would cost only an additional $30 each month*! Information available through the insurance industry estimates 10 to 14 percent of drivers to be uninsured. This data implies that if you or your family member is injured in a car accident, there is a 10 to 14 percent chance that your policy will be the only coverage available to compensate for your injuries. You need substantial coverage for your own protection.

If you have questions about insurance coverage then please contact us at Abrams Landau Ltd. We’ll be happy to help you to understand the importance of sufficient insurance. Finally, if you are involved in an accident then consult an attorney before you begin to negotiate in any way with insurance representatives. Keep a copy of your policy or policies in a place where they can be easily accessed so that we can best help you to interpret your coverage.

*quote provided by Geico insurance for a family of four with specific driver ages, records, car values…. quotes will vary according to specific driver profiles. Still, the added value of an umbrella policy comes at a much lower price than most people expect.

Comments are closed.

Of Interest