The Importance Of Reviewing Your Auto Insurance Coverage

Florida is a no-fault auto liability state, which means that all car accident victims must first file claims with their own insurers when attempting to recover compensation after a crash. This is true even if someone else caused the accident. The terms of a motorist’s policy, as well as its limits, will largely dictate what he or she does next, which could involve filing a claim with the other driver’s insurer or even taking a case to court. Because insurance plays such an important role in reimbursing accident victims, drivers should be sure to familiarize themselves with the terms of those policies regularly.

When Should I Review My Auto Insurance Policy?

Car insurance policies are typically renewed every six months. While this can prove to be a good time for policyholders to reevaluate their policies and make adjustments if needed, many of us fail to do so. While it may not be necessary to review our policies that often, it is a good idea to look them over at least once a year. This will give policyholders the opportunity to address any changes in their lives that could affect their coverage, such as the addition of a new teenage driver on the policy. However, a policyholder may want to consider reviewing their policies more frequently, depending on where they live and how often they drive.

What to Look for When Reviewing Your Policy

When it comes time to review your auto insurance policy, there are a few things you’ll want to keep an eye out for, including:

• Whether their rates have increased or decreased;
• Whether they are eligible for any discounts;
• Whether they still have the same deductible; and
• Whether any changes in their lives have occurred that could affect their coverage needs.

It’s also a good idea to look at the details of your policy, so you get a better idea of the claims process, billing, benefits, and payouts. Remember to take note of any restrictions in coverage, as well as areas where you may have duplicate coverage, too much coverage, or not enough coverage. Depending on what you find, you may want to consider changing your policy, or even shopping around for a new insurer. If, however, you’ve been with the same company for a number of years, they may be more likely to work with you on lowering your rates.

Florida Car Accident Lawyers

Policyholders have the right to expect that their insurers will honor their claims if they end up involved in a car accident. While many insurers respond to these claims promptly and efficiently, an alarming number fail to do so. If you were injured in a car accident and your insurers have delayed responding to your claim, offered a low settlement, or issued an unfair denial, feel free to reach out to the dedicated Florida car accident lawyers at Boone & Davis for help. You can set up a free consultation with a member of our legal team by calling 954-566-9919, or by completing an online contact form.

Sources:

flhsmv.gov/insurance/

thebalance.com/how-to-review-an-insurance-policy-2388605