There are so many technicalities when it comes to insurance that some aren’t researched until after an accident happens and that is when it could cost you.
In New York No-fault Insurance is for all kinds of auto accidents except motorcycles and scooters. This insurance can’t be used towards that under any circumstance. It does apply to a pedestrian that could be struck crossing a street or someone hit by a car while riding a bicycle.
No-fault insurance can be extremely beneficial to someone injured in an accident. In New York it covers up to $50,000 for your medical care, loss of compensation from work and can be utilized to pay for some household needs.
However, while $50,000 seems like a large sum think of what it would cost if you had to receive medical treatments for months after a stay at the hospital? It would deplete insurance very fast! Imagine if it’s very severe injury and you’re hospitalized for weeks… possibly months. Your No-fault insurance is NOT going to cover that. However, some insurance companies fail to tell their customers that they can get a higher no-fault coverage for over $50,000. It can be purchased for a decent price.
Why don’t many know that this is available for them? Many insurance companies don’t want to provide the money you would need for greater no-fault insurance. Therefore, if you file for it make sure that you file a claim by your deadline and read the fine print to avoid any mistakes because it will take little for them to deny you. For the best possible advice on how to go about this, it is best to speak to a lawyer. If you have been in an accident they can tell you if you also qualify for a personal injury suit based on other factors.
It is far better to know what is best for you than to risk having hefty bills on top of injuries because you didn’t know what you were entitled to.
