CUT RATE CUT THROAT AUTO INSURANCE | ACCIDENT ...

First I want to make it clear that Alford & Bertrand, LLC is not in the insurance business and has no interest in helping insurance companies make larger profits than they already do nor do we have any interest in seeing insurance companies charge higher premiums than they already do.? As a matter of fact we have spent more than 30 years fighting, on behalf of our clients, with insurance companies in order to get our clients fair treatment when they have been injured in an accident.

For many years the number of insurance companies selling automobile insurance coverage in Massachusetts was limited to a small number of companies who had a virtual monopoly on auto insurance sales.? Premiums had to be regulated by the Commonwealth and each year these companies would come to the Insurance Commissioner?s Office seeking increases in premiums.? The price of auto insurance under these circumstances was no bargain.

It seemed to make sense that if more companies were selling auto insurance in Massachusetts there would be more competition and prices would come down.? In theory that sounded fine but as an attorney dealing with auto insurance companies for over 30 years let me tell you what is taking place and how motorists are being slammed in the pocket book by many of these new companies doing business in our state.

Whether you buy insurance through a broker or on line the major selling point is price, not quality.? Now if you were never injured in an auto accident, and it were legal, you wouldn?t need any coverage at all.?? But since you are required to carry auto insurance it only makes sense that you have coverage that will help you if you have an accident.

Under the category of you get what you pay for huge numbers of motorists are finding themselves absolutely helpless and without help from their insurance company after an accident.? These are motorists who have decided to buy Cut Rate Policies, or as one of the companies claims ?Name your own price?.? The risks that you take when you choose the cheapest name your own price policy are as follows in the event of an accident.

To keep the price down some companies, without your being aware of it, deprive you of Personal Injury Protection Coverage for your own protection.? Until these companies started advertising in Massachusetts virtually every driver had $8,000. in Personal Injury Protection coverage.? This provided you with up to $8,000.00, regardless of who caused the accident to apply towards medical bills and lost wages.? If you did not have health insurance your own company would pay up to $8,000.00 in medical bills for treatment reasonably related to the accident and if there was money left over from the $8,000.00 pay for lost wages during the period of time that you were totally disabled.

Now those of you who have saved a few dollars and waived their right to Personal Injury Protection have to pay for their medical treatment themselves or, if they get a settlement from another driver who caused the accident the medical bills come out of the settlement leaving very little to the individual to cover pain and suffering, disability and other non-economic losses.? Some of these tricky sales people may say to you that you do not need this coverage in Massachusetts because there is mandatory health insurance.? The only problem is under Mass. Law if the health insurance company pays for your medical bills, and you get a settlement, you have to reimburse the health insurance company and you end up with very little to cover your personal loss.? Do not be tricked into waiving your right to Personal Injury Protection coverage because if you do you will find yourself receiving much less than you believe that you are entitled to if you have an accident.? Most of the money will go to either your health care provider or your health care insurance company.

In addition our clients who have accidents immediately look for help with two other issues.? One is getting their car fixed and the other is payment for a rental car while your car is being prepared.? If you have purchased a Cut Rate policy it is likely that you have neither property damage coverage nor rental coverage.? The other driver?s insurance company, even if he or she is at fault, is under no legal obligation to pay for your repair or rental unless the case goes to court and a judge makes a judgement ordering them to reimburse you.? That can take a year or two before a judge gets to hear the case.

Please be aware of the risks that you take when you buy cut rate insurance from some of the new folks coming to town (or for that matter some of the companies that have always been around but may find themselves selling these limited policies to compete on price).? If you have purchased a cut rate policy you have made a decision which may result in your having to pay for your own car repair and rental and which may significantly reduce that amount that you will get if you make a claim against the other driver for personal injuries suffered in the accident.

I compare dealing with cut rate insurance companies to dealing with cut throat insurance companies.? Only you can make your own choice of who to do business with but we recommend that you make a knowing and thoughtful choice and check out what you are getting for your money.

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The Law Firm of Alford & Bertrand, LLC has four offices in Massachusetts. The office locations are in Watertown, Quincy, Lynn and Mattapan. With over 30 years of bankruptcy experience we have helped thousands of personal and business debtors. Contact us at 617-926-8800 or 1-800-698-2889 Check our websites: www.bostonbankruptcyexperts.com, www.alfordandbertrand.com www.lawfirmsinboston.com

Source: http://alfordbertrandpi.wordpress.com/2012/11/11/cut-rate-cut-throat-auto-insurance/

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