Leverty & Associates Law Chtd. has successfully represented individuals in pursuing their rights after an automobile accident. It is important to understand an automobile insurace policy so that you get what you deserve. The Reno car accident attorneys have extensive experience with insurance and are very familiar with automobile insurance policies.
An automobile insurance policy generally provides five (5) types of coverage.
Liability Coverage protects the insured person if they have caused an accident while and injured someone’s property or injured another person. Liability coverage requires your insurance company to do everything to promptly settle or attempt to settle any and all claims against you.
Medical Payment Coverage
Medical Payment Coverage pays for medical bills in the event you or your passengers are injured in an automobile accident. The medical payment coverage has specific limits which generally do not pay for serious injuries but do provide for initial medical expenses. Your insurance coverage must promptly provide you this benefit even if you have health insurance.
Uninsured/Underinsured Motorist Coverage (UM/UIM)
Uninsured/Underinsured Motorist Coverage protects you and your passenger if you or your passenger is injured in an accident caused by a driver who has either no insurance or too little insurance. Your insurance company should promptly evaluate and pay you for damages caused by the driver who has no insurance or too little insurance.
Collision Coverage insures your car in the event it is damaged in accident or stolen. If you have this coverage, then your insurance company must promptly pay you for the damage to your car or for the value of your car if the car is totaled (NRS 487.790(b) defines a “total loss vehicle” as one that has been “wrecked, destroyed or otherwise damaged to such an extent that the cost of repair … is 65 percent or more of the fair market value of the vehicle immediately before it was wrecked, destroyed or otherwise damaged”).
Comprehensive Coverage insures your car in the event it is damaged by incidents other than a car accident, including theft, fire, vandalism, weather, falling objects and animal damage. Comprehensive Coverage is not required by law, but it is a good idea depending on the value of your car. In fact, drivers of leased or financed cars are often required to obtain this insurance. If you have this coverage, then your insurance company must promptly pay you for the damage to your car or for the value of your car if the car is totaled (See above definition of “total loss vehicle”) or stolen.
GAP insurance is separate coverage than that provided by your automobile insurer. GAP Insurance is also known as Guaranteed Auto Protection or Guaranteed Asset Protection. GAP insurance generally covers the difference between the actual cash value of a vehicle and the balance still owed on the financing (car loan, lease, etc.). Some GAP policies also cover the deductible. GAP insurance, like all insurance, is subject to specific limitations and exclusions contained in your policy. It is important to contact an attorney to fully represent your interests.
LIMITS OF LIABILITY
It is important to understand when an individual buys automobile insurance he/she selects certain coverages and the monetary limits for the coverages selected. In Nevada, your insurance agent must offer Uninsured/Underinsured Motorist Coverage, but all too often this important coverage is not selected or selected with low monetary limits. Also all too often, the policy limits are too low for the risks. In most instances, the insurance company is only responsible for paying the damages up to the policy limits. Contrary to popular misconception, purchasing minimum limits does not mean you are fully insured.
CONTACT YOUR RENO AUTOMOBILE ACCIDENT ATTORNEYS TODAY – FREE CONSULTATION
If you were injured an automobile accident, contact your Reno, Nevada automobile accident attorneys at Leverty & Associates Law Chtd., at (775) 322-6636 for a FREE CONSULTATION.
The Reno accident lawyers at Leverty & Associates Law Chtd. handle accident cases occurring in Reno, Sparks, Carson City, Lake Tahoe, Fernley, Fallon, Dayton, Minden, Gardnerville, Washoe County, Lyon County, Douglas County, Churchill County and and throughout Nevada.