California has quite low minimum automobile insurance coverage requirements: Bodily Injury Liability Coverage: $15,000 per person / $30,000 per accident minimum Property Damage Liability Coverage: $5,000 minimum As you can see at a glance, an accident of any severity can easily go over these limits. If this is your coverage (and it might be, if you bought the cheapest insurance) then you do not...
Swanson O’Dell
From The blog
What Is Gap Coverage?
Gap insurance is insurance that covers the difference between the value of your car and the total amount owed on your loan. This is important coverage if your vehicle is not worth as much as the loan, or is close in value. It comes into play when you have an accident and your car is not repairable (known as being “totaled”), and the insurance company pays you the value of your car. If, for...
How Does An Insurance Company Determine Who Is At Fault?
Insurance companies generally determine fault by a combination of methods. First, and most importantly, they review the police report of the accident, if there is one. There is nearly always a determination of fault by the investigating officer, as well as narrative description of the accident and the physical evidence, often including pictures. If there are third party witnesses to the...
How Long Does It Take For Insurance To Pay For My Damages?
Insurance companies pay out two different kinds of damages, and they are paid at different times, in general. Property damages is the first category. This involves usual vehicles which either need to be repaired or have been totaled. This can take a couple of weeks, but generally happens pretty early in your case. Basically, as soon as the insurance company knows what the damage is and has an...