Protect Your Family and Your Assets

by Attorney Ronald M Papell

While most people realize that California law requires that owners and operators of automobiles purchase liability insurance many people do not appreciate the importance of purchasing adequate insurance coverage in the event of a significant accident.  Similarly, most people have little or no appreciation of the importance of other coverages that should be included in your automobile insurance policy.  Medical Payments coverage is often overlooked or deleted at the suggestion of a broker who claims “you don’t need it…you have health insurance”.  They do so because the insurance company doesn’t want to sell med-pay coverage, it costs little and provides significant coverage.  Even the best health insurance will often require that you pay your “portion” which, with the skyrocketing cost of medical care, can amount to many thousands of dollars.

Even more important is Uninsured Motorist coverage.  This often misunderstood coverage will protect you and your family in the event that you are injured due to the negligence of another who is uninsured or underinsured and allows you to insure against losses sustained from an accident with the ever-increasing group of drivers who carry no insurance or minimum insurance of $15,000 per person or $30,000 per accident.   Most people, and many attorneys, do not realize that uninsured/underinsured motorist coverage also protects you when you are a passenger in the vehicle of another, while riding a bicycle and even as a pedestrian!  Should you suffer a serious injury and are incapable of working this coverage will provide reimbursement for loss of earnings in addition to coverage for medical or rehabilitation care.  Many companies will include your uninsured motorist coverage in your excess/umbrella policy thereby providing you and your family with the same coverage that you provide to others.

Everybody should review their automobile liability policy to be sure that they are adequately insured and that their assets are protected.  If you own a home or business or have other assets  you should increase your limits and consider purchasing an excess or umbrella policy to further protect yourself.  These excess policies will also raise the limits of your homeowners policy and should be purchased from the same company to insure that there are no gaps in coverage.  Independent brokers represent a number of different companies and can supply you with competitive bids.

Should you have any questions regarding your automobile or homeowners insurance policies please feel free to call my office and I will be happy to review your coverage with you and make suggestions as to how you might better protect yourself and your family.

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Please go to our website: www.rmplaw.com to read the article “Be Prepared Before & What To Do After An Automobile Accident”

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