Not having coverage or choosing the wrong option could be very costly should one get into an accident.

SKIPPACK, PA, USA, January 29, 2024 /EINPresswire.com/ -- According to the Forbes Advisor, “Most people don’t understand the (auto) insurance they’re paying for. Many drivers even think they’ve bought coverage that they don’t actually have.” (https://www.forbes.com/advisor/car-insurance/most-drivers-dont-understand-car-insurance/). As an example, Forbes Advisor notes that 50% of those surveyed believed that their coverage included accidental death and dismemberment (AD&D) insurance. But AD&D insurance is not a part of car insurance policies, yet not having this insurance coverage can end up costing quite a bit out-of-pocket if one is in a bad auto accident. What should people know to protect themselves properly?

According to legal thought leader, Charles Mandracchia, Esq., “The average person usually buys auto insurance without fully thinking about the realities of what could happen financially should an accident occur. Although most auto insurance policies typically cover standard accident issues and liabilities, the consumer should not assume that every aspect of risk and liability is covered. They should confirm, with a professional, that they have other insurance, such as life, comprehensive, and liability insurance to cover potential liabilities where auto insurance does not. Not having coverage or choosing the wrong option could be very costly should that person get into an accident.”

Mandracchia advises that there are 4 decisions, in particular, where consumers need to be especially attentive. They include:

1) Whether to choose the minimum state coverage or more?
In Pennsylvania, the minimum state auto coverage one needs includes minimum liability limit of $15,000 per person, $30,000 per accident for bodily injury and $5,000 for property damage. Many so-called “cheap policies” provide an option to cover only the state minimum. Although by covering the minimum, it’s true that one is allowed to drive the insured car, however the annual savings will seem small when reality hits and actual damage and medical costs are incurred due to an accident. It is recommended to maximize coverage, especially in the area of medical coverage.

2) The importance of adding accidental death and dismemberment (AD&D) insurance because it’s not part of one’s auto policy.
AD&D provides a payment where there is a death and typically, also pays if one loses a limb or a function such as sight, hearing or speech in an accident. There is a common misconception that AD&D is part of auto insurance – but it is not. AD&D insurance can be purchased as a standalone policy or as a rider to life insurance.

3) Whether to choose the option for limited tort or full tort coverage.
Limited tort limits one's ability to sue other drivers for pain and suffering if injured or killed in an accident. Although the premium for full tort is more expensive, limiting rights to sue others could dramatically affect one’s financial well-being resulting from medical and property liabilities.

4) Selecting realistic limits for uninsured or under-insured (UM/UIM) coverage and medical coverage.
UM/UIM insurance only benefits the driver and their family. Even in a state like Pennsylvania, which is a no-fault state, insuring for higher than minimum limits on UM/UIM insurance and medical coverage can be valuable to fully cover costs, especially since the coverage would only benefit the driver and their family, and not the uninsured/under-insured driver, in case of an accident.

Said Mandracchia, “Unfortunately many drivers, who are legally insured, are driving without thinking about or completely understanding their insurance coverage or its limitations, as it relates to financial consequences from an accident. Although no one likes to overspend, it’s important to make the right optional choices and confirm coverage by other policies where auto policy does not provide coverage. If not, one could significantly limit one’s rights while opening individual exposure to added costs and liabilities.”
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ABOUT THOUGHT LEADER CHARLES MANDRACCHIA, ESQ.
Speaker, writer, legal thought leader, Charles Mandracchia, Esq. is recognized as a “Top 100” trial lawyer in the United States. With a focus on Montgomery County, Pennsylvania, Mandracchia has enjoyed a successful, results-oriented legal career for nearly four decades, distinguished by his tenacious and thorough initiative and representation in criminal and personal injury cases. The firm Mandracchia founded is also known as a leader in transactional legal work and counsel. Mandracchia is a graduate of Villanova Law School.

Charles Mandracchia, Esq.
Mandracchia Law
272 Ruth Rd.
Harleysville, PA 19438,
Phone: 610-584-0700
Email: cman@mmattorneys.com
Website: https://www.mmattorneys.com
LinkedIn: https://www.linkedin.com/in/cmandracchia
Twitter: @mandracchialaw
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