I'd like to thank trial lawyer Wayne Cohen or providing this guest blog. Wayne is the founding partner of the personal injury law firm of Cohen & Cohen, PC in Washington, D.C. I hope you find the blog informative and interesting!
Top 3 Car Insurance Tips for 2014 - Get Ready Now!
As we approach 2014, it's a great time for you to reevaluate your car insurance needs. Before the new year is upon us, here are the top 3 insurance tips that you should consider for 2014.
Tip #1: Check Your Limits
One key with automobile insurance is to make sure that you have enough. This is different for each person, but having enough means making sure the limits will protect you. Being involved in a car accident and needing to hire a personal injury lawyer can be very traumatic, and not having the right insurance can make things worse! Personally, I carry as much insurance as my automobile insurance company will offer. But I keep my deductible high ($500-$1000) which offsets the premium. Put simply, I always advise my clients (and anyone else who will listen!) to get as much protection as possible.
Tip #2: Check Your Terms
Automobile insurance policies vary, and there are different requirements in each state. That said, you should still take a few minutes to carefully review your policy and make sure that you have the appropriate coverage. Dig out your "declaration page" and check all of the nitty gritty details. What are you liability limits? What is your deductible? Do you have uninsured/underinsured motorists coverage? Review your policy, and if you don't understand the terms, call your insurance broker or a personal injury lawyer to get more information. You are paying the premium, and you have the right to understand what you're paying for.
Tip #3: Purchase an Umbrella Policy
Whenever possible, I counsel my clients to purchase an "umbrella" policy. An umbrella insurance policy sits on top of your other insurance policies, such as your auto policy and your homeowner's policy. Umbrella policies are very inexpensive, and provide a lot of extra coverage. I recently saw an advertisement for a company that sold a $1,000,000 umbrella policy for just $300. Check with your insurance broker, but if you can afford it, umbrella policies are good ideas.
A special thanks to Nicholas I Gerson, and the law firm of Gerson and Schwatz PA for allowing me to write a quick guest blog. Keep an eye out for more personal injury blogs.
** Wayne Cohen is a past president of the Trial Lawyers Association of Metropolitan Washington, D.C., a law professor at the George Washington University School of Law, and has appeared on the Today Show, Good Morning America, ABC, NBC, CBS, Fox, Washington Post, USA Today, the Wall Street Journal, and more. He is a car accident injury lawyer and represents injured victims.