This one is fun. Pull out your declaration page for your auto insurance and see what is actually covered and what it means:
This is a general overview of the definitions of what auto insurance really means. For a clear understanding call your agent for details. Know what your insurance will pay for, cover and will not BEFORE you get into a car accident.
Liability Coverage/Bodily Injury Liability (Some know it as Liability; BI)
You are not covered: Let me explain; This type of policy covers OTHER people's bodily injuries or death in which you may be found responsible. This could be THEIR medical bills, loss of income, pain and suffering. HINT: Have enough to cover yourself against in a lawsuit so your personal assets are protected. Again, this type of coverage does not cover you or other people on your policy. Required by most states.
Property Damage Liability (PD)
This type of policy covers you if your car damages someone else's property; most cases their vehicle but it could be their home/fence should you drive through it. It will also provide you with a legal defense if they file suit against you. Required by most states.
Physical Damage Coverage (Comp and Coll) or Comprehensive Coverage
Covers your vehicle and the damage to other vehicles in which you may have caused. This usually covers stolen vehicles or damage from outside forces. It will pay to have your vehicle (and others) fixed (minus your deductible). States do not require this but if you have a loan on your vehicle, most likely, your lender will require it.
Collision Coverage (Coll)
This is when someone or something else hits your vehicle. This coverage will fix your vehicle (minus your deductible). States do not require this but if you have a loan on your vehicle, most likely, your lender will require it.
Underinsured Motorist Bodily Injury (UNDUM)
Covers you, members of your household and your passengers for injuries and/or death caused by another person's negligence. This coverage pays when the negligent person does not have enough coverage through their policy.
Uninsured Motorist Property Damage (UMPD)
This coverage is for your property when it is damaged by a negligent person who does not have insurance. If you do not have collision coverage (Coll) you may have a limit on how much is paid for repairs. If you do have collision coverage than this would pay for your deductible only (in some States...please check your State for complete details).
Underinsured Motorist Property Damage (UNDPD)
Covers your property when the negligent party does not have sufficient coverage on their policy. As with the Uninsured Motorist coverage some states have a max this will pay for and if you have collision, this will pay for your deductible (in some States).
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Pueblo Office: 113 W. 12th Street (Map it)
Colorado Springs Office: 422 E. Vermijo Ave., Suite 412 (Map it)
The dreaded time change in the Spring. Can we survive losing one hour of sleep?
Let's look at the time change a little different and it's not going to make it easier to adjust but it may save your life.
We have all been told to pick a day of the year to change the batteries in our smoke detectors and now we add our carbon monoxide detector to this list.
I don't know about you but the batteries in my smoke detector only get bad in the middle of the night. You hear that "chirping" that drives you CRAZY and if you have a dog who's ears are sensitive...that is even worse.
I did the "pick a day" to change the batteries and for the most part...I stuck with it. BUT...it never failed that one of my smoke detectors wouldn't make the year and at 3:00 am in the morning my 85 pound dog was up on my bed crying. So sleepy I had to find the step ladder and a battery and wait....."chirp" okay it's on the north side. Down to four smoke detectors it could be. "Chirp" where the heck is it coming from. (Dog still going crazy and NO HELP in determining which smoke detector needs a new battery.)
"Chirp" ahhhh found it. Climb the step ladder, change the battery and up the rest of the night.
So what do I do now? I change ALL of the batteries every time the time changes. It is now known as "Time to change" the batteries. This makes it simple because the news tells me to go to the store and stock up on batteries weeks before I need to change. How cool is that!
I don't have those 3:00 am wake up calls anymore because of the one bad battery in a thousand that I always seemed to have. Of course that one bad battery couldn't have been in the television remote...it was always in the smoke detector.
Aside from the annoyance I am happy I have smoke and carbon monoxide detectors in my home. They are there to save my life, my family's life and the life of my pets so twice a year I change the batteries in the daytime, without the chirping and awake.
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The more I treat the more I get.....not true. Insurance companies have a pre-determined amount that each injury is worth.....so if you treat the injury more than you should than less money will come to you....unless you have a powerful Attorney to fight this!
Gotta love Colorado: You are allowed to "sign off" on MedPay.
MedPay: A type of auto insurance covering medical and funeral expenses resulting from an accident for the policyholder and any passengers riding with the policyholder. MedPay also covers the policyholder for any accident in which he is a pedestrian. MedPay provides coverage regardless of who is at fault. (Investorwords.com).
Here's what most people do not know....
.......MedPay is PAID BACK out of your settlement....UNLESS you have an Attorney who fights for you. When I was told this, honestly, I was shocked!!
When you sign on for auto insurance and do not "opt out" you are automatically signed up for $5,000 MedPay (Colorado....please check your state policies).
The good thing about MedPay is it kicks in immediately. The bad thing is it is not closely looked at so if you visit an "unscrupulous" Doctor your MedPay can be used up very quickly....and as I said earlier....it is normally paid back out of your settlement.
We talked about Policy Limits so let's assume you have the Colorado minimum requirements of $25,000/$50,000 with $25,000 MedPay. The person who hits you has the same minimum policy limits. You are seriously injured and your MedPay is exhausted. You have to have surgery and will have scars the rest of your life. Bye Bye settlement.
First thing you need to do is check what your policy limits are.
Second check what your MedPay is.
Third: If you are ever injured in a car accident TALK TO A Personal Injury Attorney. They will fight for your MedPay and they will have referral Doctor's that won't abuse the MedPay so you have more money for treatment.
Like Zeisler & Associates, Attorney at Law, PC on Facebook or visit their website.
Pueblo Office: 113 W. 12th Street (Map it)
Colorado Springs Office: 422 E. Vermijo Ave., Suite 412 (Map it)
