Misconceptions of “full coverage”

When people come to see me after an automobile accident, one of the common misconceptions is that they have full coverage. They assume that because they have, “Full coverage” on their automobile policy, that there’s no issue about who’s going to pay for their medical bills or anything to do with compensation for what they’ve been through. They usually say, “I’m not concerned, I have full coverage,” while the reality is in the state of New Jersey, you may think you have full coverage, but really what full coverage means to your insurance company is protecting the bank, protecting the finance company.
If your car is leased or financed, the bank wants to make sure that there is full coverage on the vehicle to protect their property. The real question is, what kind of coverage do you have on your body which is the most important thing? In the state of New Jersey, we’re one of only seven states that are called no faults states, meaning that it is not the at-fault driver that pays your medical bills when you’re an in automobile accident, it’s actually your own auto insurance. So it is absolutely critical to understand what limits you’ve selected for your medical bills. This is known as pip coverage.
You have to look on your policy to see how much coverage is for your medical treatment. We here at the Grossman Law Firm, we review these declaration pages which describes your coverages every day, and we will advise you about your rights and what you can do about it. We recommend that you call us very soon after an automobile accident or a truck accident so we can help navigate you through this very complicated, often confusing system.