If you are pursuing compensation for your injuries, it is important to familiarize yourself with the jargon. Do insurance terms sound like a foreign language to you? If so, below are some insurance buzzwords you’ll need to know.
Gap Insurance – Did you know that once you purchase a car, your car starts losing its value. If you get into an accident the day you buy your car, an insurance company will pay you for the Blue Book value of your car. It will most likely will be less than what you paid for the car. The term “Gap Insurance” refers to the difference between how much you paid for the car and how much your insurance company covers.
Uninsured Motorist Coverage – If you get in a car accident with someone who does not have car insurance, the compensation you will receive is called uninsured motorist coverage.
Underinsured Motorist Coverage – If you get into an accident with someone and their insurance does not coverage all of the damages and medical bills, the compensation you will receive is called underinsured motorist coverage.
Part of our ability to create success for our clients lies in the fact that our attorneys all have previous experience defending insurance companies from the very sort of claims we now bring for the injured. Having that level of insight allows us to create strategies that are designed to help our clients secure the compensation they need and deserve as they work to recover from their injuries. Contact us today by calling 1.888.GOT.HURT (468-4878) or simply contact us online to schedule a free initial consultation.
Web Source: http://blogs.findlaw.com/injured/2015/04/5-insurance-terms-to-know.html