If you're like most people, every paycheck you get goes to pay your monthly living expenses. The mortgage, utilities, car payments, insurance premiums, and food take up the biggest chunk each month. Then there is clothing, fuel and vehicle maintenance, savings, and whatever else you need. But what happens if you are in an auto accident and can't work? How does the pile of bills get paid then? The last thing you need stressing you out while you're on the mend is trying to figure out how you're going to eat and keep the lights on.
Auto Insurance
Your auto insurance will cover several different things. The first priority will be your medical bills, which may include things like the ambulance bill, emergency room treatments, hospital room charges, surgeries, medications, physical therapy, and follow-up exams. In some cases, there may be mental suffering and anguish that occurs as a result of the accident. Therapy to treat these conditions could be covered by your insurance as well. Once your medical benefits in your auto policy are exhausted, your health insurance will kick in.
It goes without saying that your auto insurance will cover your vehicle. How much your insurance company will pay out depends on the terms of your particular policy and whether or not the vehicle is deemed a total loss or if repairs can be done.
But more importantly, your auto insurance may cover what's known as lost wages compensation. The amount varies from policy to policy and state to state. The formulas for determining this can be very complex. To protect your interests, be sure to consult with your auto accident attorney before accepting any settlement from your insurance company. A personal injury lawyer can also assist you with applying for disability if it is determined that you are permanently disabled.
Supplemental Insurance
This additional insurance is frequently considered "gap" insurance, picking up where your regular auto and health insurance leave off. These benefits are generally paid directly to you and can be used to cover your out-of-pocket expenses, insurance co-payments, over-the-counter medications and medical supplies, and your monthly living expenses. Having supplemental insurance can be a great comfort as your personal injury attorney battles on your behalf in the court system. Many times, people aren't even aware they have this disability insurance as it is frequently bundled with their benefits package through their employer.
Being involved in an auto accident can be a life-changing event, but thankfully, if you're insured and have a good personal injury attorney, your financial life won't veer too far off track while you recover and wait for your settlement. If you have more questions about how you can be covered after an auto accident, consider speaking with a representative from Sarkisian, Sarkisian & Associates PC.
Share15 June 2015
When I was injured in a slip and fall accident a few years ago, my family and friends had a hard time relating to the things I was going through. While some people thought that my decision to file a lawsuit was frivolous, others were under the impression that I would walk away as a millionaire. Their lack of personal experience with this type of legal problem left me feeling alone during one of the most difficult times in my life. That is why I decided to start this blog so that accident victims from all over would have somewhere to come to get the information and support that they need. I truly hope that this page can be that place for you.