Auto Insurance - Understanding Your Auto Insurance Policy: Part 2 of 6
This is Vaden Warren with the Warren Firm in Charlottesville, Virginia.
I wanted to discuss with you a little bit on understanding your automobile
insurance policy. One of the most frustrating things for me as a Charlottesville
and Virginia personal injury attorney is how many people do not understand
what kind of
coverage they have on their automobile policy. You hear commercials on T.V. every
day that Geico, State Farm, Allstate and Progressive will save you hundreds
of dollars a month on your insurance bill. This may or may not be true.
To understand, you have to figure out whether these insurance companies
are comparing the same policy and the same benefit that you already have.
What I see more and more that these companies are doing is selling you
the smallest policy that Virginia law allows, that is a $25,000 insurance
policy. A $25,000 policy, while the minimum in Virginia, is simply not
enough to protect you and your family. So I want to discuss with you what
you need to discover when purchasing your automobile insurance. In order
to do that I have a real policy that is issued by an insurance company.
I have removed all of the names of the insurance company and the insured
to protect everyone’s privacy, but I want to go line through line
so that you understand what you’re looking at. You policy will not
look identical to this, unless it’s the same insurance company,
but it will look very similar.