Following are not only some of the obvious benefits of insurance coverage, but some of the less obvious and very important benefits of insurance coverage for Bronx residents.
Most people think of insurance as a means to protect themselves in the event they are sued for negligence. This is important in the Bronx because Bronx County is known for very high jury verdicts. Another benefit that people consider when purchasing insurance protect themselves from the cost of damage such as insuring yourself against the cost of repairing or replacing your house in the event it is destroyed by fire or your car in the event that it is damaged or totaled in a Bronx car accident.
However, an often overlooked but very important benefit of having an insurance policy is that your insurance company will provide you with a free lawyer to defend you from an accident claim. Without insurance, not only will you be exposed to having to pay for someone’s injury in the event of your negligence, but you will be forced to pay for your own Bronx accident defense lawyer which could cost tens of thousands of dollars. Higher liability coverage limits not only protect you from claims for serious injuries, but will ensure that you will continue to receive legal representation paid by your insurance company.
Car insurance policies have a coverage called uninsured and underinsured motorist coverage. This will protect you in the event that you are seriously injured by someone who had less insurance than you. This coverage is vitally important anywhere, but even more so in the Bronx because so many people in the Bronx have minimum insurance coverage.
Make sure that your insurance policy is paid on time to preserve your benefits. Some people have been exposed to claims because of an insurance policy lapse of only one day because of failure to pay the premium on time.
See more information about the types of insurance policies and the types of insurance coverage available under each type of policy.