Why This Lawyer Says You Should Buy Car Insurance From An Independent Broker
Below is a MRR and PLR article in category Finance -> subcategory Insurance.
Why This Lawyer Recommends Buying Car Insurance Through an Independent Broker
Summary
As a personal injury lawyer, I've seen countless individuals suffer due to inadequate insurance coverage. This often results from purchasing insurance directly from a company rather than consulting an independent broker.The Issue
Many clients involved in car accidents find themselves up against underinsured drivers, with the minimum liability coverage in New York being just $25,000?"which is even less in other states. My clients frequently have policies with liability limits of $100,000 or $300,000 but lack matching uninsured or underinsured protection.For example, a recent case involved a client who was a pedestrian hit by a car whose owner only carried the state minimum liability insurance. Despite my client having her own liability coverage of $300,000, she lacked adequate underinsured coverage due to purchasing her policy directly from GEICO, which doesn’t use independent brokers. Had she added underinsured coverage for a minimal fee, she could have been eligible for $300,000 instead of $25,000 for her injuries.
The Importance of Proper Coverage
Having matching underinsured and uninsured motorist coverage is crucial. It allows you to receive compensation from your own policy if you're injured by a driver with less coverage. This coverage is generally affordable and should match your liability limit, although it cannot exceed it. A few states mandate matching limits unless waived in writing, a practice I've advocated for in New York.Additionally, medical payments coverage is vital, costing as little as $2 per month, providing crucial support for those without robust health insurance, including passengers.
The Role of Independent Brokers
Independent brokers offer an invaluable service by evaluating your needs and advising on the most suitable coverage. They represent multiple insurers, ensuring you get the best rates and coverage options. Courts have ruled in favor of insurance companies in malpractice lawsuits over coverage offers when policies are bought directly, as consumers aren’t paying for advice. This highlights the benefit of consulting an independent broker.Conclusion
Regardless of how you purchase insurance, always ensure you have matching uninsured and underinsured motorist coverage and the maximum medical benefits. Independent brokers can provide expert guidance and a range of options to suit your needs.You can find the original non-AI version of this article here: Why This Lawyer Says You Should Buy Car Insurance From An Independent Broker.
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