Accident Attorneys in Oklahoma City
Car and Truck Accidents
WHAT TYPE
OF AUTOMOBILE INSURANCE DOES THE LAW REQUIRE?
There are four major categories of automobile insurance: Liability, Comprehensive/Collision,
Medical Payment Coverage and Uninsured/Underinsured Motorist (or UM) Coverage.
The law only requires every driver to have liability coverage in the amount of
$10,000.00 per person/$20,000.00 per occurrence (effective for policies issued
April 1, 2005, the new mandatory minimum limits will be $25,000 per person/$50,000
per occurrence for liability and UM coverage) to pay for damages caused to the
person or property of another in a car accident or truck accident. Agents often sell "full coverage" which does not
have a set meaning, but it normally means liability and comprehensive/collision
coverage only. This is how each type of coverage works:
- Liability/Bodily Injury. This
coverage pays for damages to the person or property of another
if caused by the negligence of the insured. In a nutshell,
if you have been hit by another driver in a car accident or truck accident, this is the type of
coverage that the other driver must have in order to pay to
fix your car, pay your medical bills and provide for your lost
wages and pain and suffering. State law requires that all drivers
have liability insurance coverage, and it is a crime to drive
your vehicle on public roads unless the vehicle is covered
with liability coverage.
- Comprehensive/Collision. This
coverage will pay for damages to the insured¹s vehicle.
If your car is stolen, or you cause a car accident or truck accident, comprehensive/collision
will pay to fix or replace your vehicle. There is deductible,
or amount that the insured must pay, that will normally
range from $250 to $1000 per occurrence.
- Medical Payment Coverage. This
is a no fault form of coverage that will pay the insured's medical
bills up to the predetermined amount of the policy limits.
This means that if you are injured in a car accident or truck accident, even if
it's your fault, your medical payment coverage will pay your
medical bills. If another driver caused your injuries in a car or truck accident, you
may still be able to recover any applicable medical payment
limits in addition to your recovery from the liability insurance
of the driver that caused your injuries. Medical payment coverage
is very affordable and an excellent way to protect yourself
and your loved-ones from becoming overwhelmed by unpaid medical
bills.
- Uninsured/Underinsured Motorist Coverage
(UM). If you are involved in a car accident or truck accident with
an uninsured driver, or if your injuries are worth more
than the other driver¹s liability limits, your UM coverage
can be applied to pay the difference. UM coverage is another
excellent bargain for the insured and everyone should carry
it on their automobile policies. There are some procedural
tricks involved in making a UM claim, and if you don¹t
follow the necessary procedures, and you settle with the
at fault party¹s insurance company, you can destroy
your rights to your own UM coverage forever.
How and when to apply the differing forms of automobile insurance
coverage to any given accident can be complicated, as well
as having a very long lasting effect, both good and bad,
on your life. In addition to using a variety of insurance
coverage's in concert to maximize your compensation, there are the added benefits
and complications of possible applicability of your health insurance, worker¹s
compensation insurance and even possible defective product claims. While
there are no simple, one size answers to explain how to use the available
insurance coverage in your particular case, these questions can usually be
resolved and explained by our Oklahoma City truck accident and car accident attorneys in a free consultation.
If you or a loved one has been injured in a car
accident or truck accident in Oklahoma City or anywhere in Oklahoma, call or e-mail the experienced car accident attorneys at Cunningham & Mears,
P.C. |
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