Do I need personal injury insurance? If you are a driver, a passenger in someone else’s car, a pedestrian, or a cyclist in New Jersey, you may have contemplated this question from time to time. While you must have a driver’s license by law, it is not mandatory to have personal injury insurance coverage. But is it important?
New Jersey is an at-fault state, which means in the event of an accident, if you are at fault, you will be held financially accountable for any liabilities. However, if the fault is not established, you might not be compensated. Read on to find out how personal injury insurance covers you in the events of such occurrences.
Please contact Union City Personal Injury Attorney Anthony Carbone if you’ve been injured in an accident.
What is Personal Injury Insurance
Also referred to as no-fault insurance, personal injury insurance covers expenses such as:
- Funeral costs, if mentioned in the policy.
- Medical bills for you and your passengers
- Partial lost wages
Regardless of who is at fault, although coverage requirements vary from state to state. It’s only in 13 states, including New Jersey, with the no-fault car insurance laws. It is essential to discuss the policies with the insurance providers.
Importance of Personal Injury insurance
Personal injury insurance, regardless of who is at fault in the event of an accident, covers your medical bills as well as those of your passengers, as mentioned above. Apart from that, it would be best if you considered personal injury insurance because;
- Personal injury insurance pays faster than the third party insurance of the driver who is at fault.
- It covers you in case of a hit and runs accident.
- Apart from settling only the medical bills, it covers other expenses such as funeral expenses in death, repatriation costs, and ambulance charges.
- In case the at-fault driver is uninsured or underinsured, the personal injury insurance will still cover you.
- It eliminates the necessity of having to file a personal injury claim.
- It covers lost wages that occur as a result of the accident.
Disadvantages of Personal Injury Insurance
- It does not cover the emotional distress or trauma one gets from the accident, unlike personal injury settlement.
- The personal injury insurance payout is likely to be less than a personal injury claim.
- Paying a personal injury insurance premium every month can be a hefty addition to your budget.
- Personal injury insurance does not cover property liability damage.
- It is not applicable in all states.
- It has a varying benefit across states where it is applicable
- It is not acknowledged internationally, only in some states in the USA.
- Personal injury insurance policies have a per-person maximum, meaning that coverage is limited to a certain number of persons if multiple people are injured in an accident.
Talk to New Jersey’s City injury lawyer.
Anthony Carbone is an industrious, determined fighter who will not rest until you get what you deserve. In the previous 30 years, he has been fighting for people’s rights in New Jersey City. If you have any questions about your insurance coverage, contact us 24/7 by calling 201-762-8956.