Claims against your own insurance company are called first party claims. These are claims that are made against a policy that was bought for some sort of protection. This could be protection for your vehicle, home, or other assets. Life insurance policies also fall under this category. An insurance policy is simply a contract which sets out terms, conditions, and exclusions. The terms usually set out what is covered and the conditions explain what needs to be done for that coverage to take effect. Exclusions relay what will not be covered by an insurance policy.
When buying an insurance policy it is important to understand the three parts o f a policy relayed above. This may ultimately help avoid needing to hire a Miami insurance claims attorney. Policies are usually bought in an expedited manner. Both the buyer and the seller of the policy may be in hurry to get the transaction over with. You may be buying a car and get a policy offered through an agent at the dealership. Thus, your concentration is not fully on the terms and conditions of the policy. In order to quickly get you covered an agent may simply sell you a basic policy with PD and PIP coverage only. PD coverage only covers damage to other vehicles and PIP coverage only covers medicals bills up to $10,000 depending on the circumstances. Such a policy lacks collision coverage, which covers your own vehicle, and uninsured motorist coverage. Uninsured motorist coverage is important because it covers your bodily injury if the other driver does not have bodily injury (BI) coverage. By the way, BI coverage is not required by State of Florida. However, there are signs that this may be changing in the future. As South Florida injury attorneys we understand the need for comprehensive auto policies.
Great care should also be taken to when buying a homeowner’s insurance policy in Florida. Of course, we understand that at this time options are limited as it pertains to this type of coverage. Here it is important to understand what is covered and what your post loss conditions are. Typical conditions are that you promptly report the loss, submit to a recorded statement and/or examination under oath (EUO), and that you provide a sworn proof of loss when requested by your insurer. Of course, when dealing with such issues is important to consult with a Miami homeowner’s insurance attorney. Many insurance companies may try to delay, deny, or undervalue your claim.
Life insurance policies may fall into the categories of term, whole life, and accidental. Term life insurance provides coverage for a limited period of time. Whole life insurance may provide coverage through an individual’s entire life. Accidental life insurance only provides coverage if there is an accident. Depending on the type of life insurance policy the terms and conditions may change. Again, these policies must be reviewed with care by both the insured and the beneficiary. This will ultimately help avoid complications.
South Florida insurance attorneys are here to assist you. Please call 1.888.413.8353.