Personal Injury Blog
How can you save money after an auto accident? Obtain collision coverage and gap insurance before an accident occurs.
COLLISION INSURANCE covers any damage to your automobile if a collision with another vehicle or object (tree, light pole, fence, etc.) led to your accident. This coverage enables you to have your vehicle repaired through your own insurance policy subject to whatever deductible you choose.
If you are in an accident with another vehicle that is entirely the other driver’s fault, you can go through the other driver’s property damage coverage to have your vehicle repaired. However, there are some situations where that may not be an option.
The attorneys at Glotzer & Kobren have recently seen an increase in the number of people who are driving without any auto insurance. If you are in an accident with one of these individuals, there obviously won’t be an insurance company to pay for your repairs and in our experience, people driving without insurance don’t have the money to personally pay to repair your vehicle. The minimum amount of property damage coverage in Florida is $10,000.00. A situation that can prove problematic is if you don’t have collision coverage and you are in an accident where there is significant damage to your vehicle that will require costly repairs. If the damage to your car exceeds $10,000.00, there will not be enough coverage to completely repair your vehicle.
Similarly, if you are involved in an accident with more than one other vehicle that is not your fault, there may not be enough coverage to repair all of the vehicles damaged in the accident. Furthermore, if you are involved in an accident that is partly your fault, the other driver’s insurance company will only pay for the same percentage of the repairs as the other driver’s responsibility for causing the accident. For example, if the other driver is found to be 50% responsible for causing the accident, you will be responsible for paying 50% of the repairs to your vehicle.
While these examples present frightening possibilities, the good news is they are all avoidable if you have collision coverage on your auto insurance policy. While nobody wants to pay more for their auto insurance, it will be far less costly than having to pay for the repairs to your vehicle out of your own pocket.
Another problem we have seen more often lately is clients who do not have GUARANTEED ASSET PROTECTION (GAP INSURANCE) on a vehicle that they have purchased and are financing to pay it off. When you purchase a vehicle and finance the purchase with the dealership or a bank, the amount of the loan on the vehicle is always more than the value of the vehicle. In order to protect yourself, you can purchase GAP insurance at the time you purchase the car. If you are in an accident and your vehicle is declared a total loss as a result of the damage, the law only requires the insurance company to pay you the value of the vehicle, not what you may still owe on the vehicle.
If you have GAP insurance, the GAP insurance pays the difference (GAP) between the value of the car and the amount of the loan to the lienholder. If you do not have GAP insurance, you will be responsible for paying the difference (GAP) between the value of the car and the amount of the loan to the lienholder out of your pocket, even if you were not at fault for the accident.
Just like with collision coverage on your auto insurance policy, there is an additional cost with purchasing GAP insurance but that cost is significantly less than what you would have to pay out of pocket to cover the GAP.
“I have clients who are going to pay thousands of dollars out of pocket because they didn’t purchase collision coverage or gap insurance,” explains Matthew Kobren, Partner, at Boca Raton-based Glotzer & Kobren, P.A. “It doesn’t have to be this way. Collision insurance and gap insurance are must-haves for Florida motorists.”
Unfortunately, we cannot rely on other people to “do the right thing” when it comes to taking care of your car that was involved in an accident. To make sure that you will be able to get your car repaired or not have to pay thousands of dollars out of your own pocket for a car that was totaled in an accident, you need to protect yourself before you have an accident by purchasing these two coverages.
If you have any questions about collision insurance or GAP insurance, please contact Glotzer & Kobren at 561-361-8677. Florida auto insurance laws can be confusing so we are here to help Florida motorists and their families decipher coverage options and policy language.
Our goal at Glotzer & Kobren, P.A. is to maximize the value of your insurance claim so that you can get the money you need to cover your medical bills, repair costs, lost wages, and more. We represent clients throughout South Florida and encourage you to contact us at 561-361-8677 for a confidential consultation if you’ve been involved in an accident. There’s NO FEE unless WE WIN.
Glotzer & Kobren, P.A. is proud to announce that we recently resolved a complex motorcycle accident case for $300,000.00. Our top-rated motorcycle accident lawyers are expertly trained to specialize in these types of cases. We have the legal skills and a track record of success obtaining a favorable recovery for injured motorcyclists. Throughout our combined 60 years of legal experience, our trial attorneys have helped many Florida bikers who have been injured due to the negligence of another driver, an unsafe roadway, or a defective motorcycle.
U.S. traffic deaths are up despite the coronavirus pandemic. The results of a new study reveal that the number of people killed on the nation’s highways rose 4.6% in the first nine months of 2020 despite coronavirus lockdowns. The National Highway Traffic Safety Administration (NHTSA) estimates that 28,190 people died in traffic crashes from January through September of last year, up from 26,941 in the same period of 2019. How did this happen during stay-at-home orders?
Driven by Success
The coronavirus (COVID-19) pandemic vastly changed the landscape of our justice system. It has also created unique issues for personal injury cases. But despite the pandemic, Glotzer & Kobren, P.A. continues its impressive track record of success by maximizing our client’s recovery after an accident. In 2020, our Boca Raton-based personal injury law firm collected $8,000,000 in compensation for those injured due to the negligence or recklessness of another.
One reason why many nursing home residents need full-time care is that they have special and ongoing medical needs. In addition, many nursing home residents are at a particularly high risk of contracting illnesses or suffering injuries due to their advanced age. When a nursing home fails to provide the necessary medical care and attention for residents, the residents can suffer unnecessary harm or even death, and nursing homes should be held fully accountable for neglect.
While most people are currently trying to stay home as much as possible during the COVID-19 crisis, there is still traffic on the roads, as essential employees need to get to work, and families need groceries. One of the most common types of vehicles we can see driving around town is delivery trucks. People are ordering packages online on a regular basis, and the shelves of our grocery stores still need to be stocked. For this reason, delivery drivers are still working hard.