When Should You Expect To Review Your Insurance Statement?

Reviewing an insurance statement is something that most adults don’t do anymore. Decades ago, it was common for households to go through their insurance statements, bank statements, and more. People used to balance their checkbooks, and few do anymore. Instead, they often just accept what the insurance company says and feel as though they can’t argue.

You can point out where the insurance company’s obligations and what they delivered don’t match. For example, if you’re promised a no-fee tow to the nearest auto shop, then you shouldn’t pay for towing at all. Additionally, if you’re promised a rental car, then you shouldn’t have to fight for compensation for paying for a rental.

Do a Quarterly Review of Your Insurance Statement

Your insurance statement, or policy information, contains a massive amount of useful information. That document should contain a full outline of what to expect in regard to coverage after a wreck in Georgia. If you have liability-only insurance, then you should expect this to be rather short. It may even say something along the lines of “will receive no compensation.”

Now, if you have comprehensive or collision coverage, then you can go through and sort out what you will receive. Collision coverage is the big one that kicks in for at-fault crashes, single-vehicle crashes, and run-ins with animals. Then you may have uninsured or underinsured motorist coverage. That should outline how much compensation is available to cover personal injury, as UIM usually doesn’t pay for non-economic damages.

Assess the Benefits You’re Entitled To In a Crash

Now, you may not have to change your liability limits very often, but evaluate your other areas of coverage regularly. You can schedule this once a year before your policy renews. Or, you can do it when you look through the policy at each quarter.

Your physical damage coverage covers property damage, including the vehicle and everything in it. In some cases, if you hit a building or city fixture, this would cover that as well. A lot of people think that they don’t need a lot of physical damage coverage because they won’t cause an accident, and then the other driver will pay.

But when it comes to fault, there’s never a guarantee that you won’t look down for a moment before slamming into the car in front of you. Accidents are called accidents because few actually mean to do any damage at all. Consider upgrading, or starting, a comprehensive or collision policy.

Consider as well whether you’ll end up paying more in insurance than the worth of the vehicle. Deductibles and monthly payments add up quickly, and that can result in quite a few issues for people later. It’s frustrating to realize that you’ve paid $2,500 over the last year to protect a car that was only worth $2,000.

Go Through Your Insurance Statement With Your Car Crash Lawyer

You should always keep your auto insurance policy information and statements until your policy renews. Regardless of whether you pay monthly, quarterly, or annually, your policy will “expire” every year. Then the insurance company renews it unless you tell them not to. It’s one of the reasons why it’s so difficult to end a policy after an unpleasant experience.

These statements or insurance policy overviews will help you and your attorney map out how to approach compensation demands. You may only need to submit your claim to them, and then move on to the at-fault driver. Or you may need to provide your policy provider with much more information. It’s always a tough call, but with this information on-hand, you can make a quick and well-thought-out decision.

Always Speak With an Auto Accident Attorney

After a wreck, it’s common for car insurance companies to work away from their contract or agreement. In your insurance statement is a complete guide of what you should expect in the event of a wreck. That should include things like towing your vehicle, property damage limits, medical coverage caps, and more. If you have liability only insurance, then this isn’t so important, but it can still be a resource of valuable information.

An auto accident attorney in Georgia should have the prowess to go through these documents and nitpick what you should receive in coverage. Don’t let the confusion between the insurance provider, the at-fault driver, and their insurance policy lead to a disappointing conclusion. You can use the documents and evidence at hand to prove that you need and deserve compensation for your damages and injuries.