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Using Your No-Fault Insurance

“… but it was the other driver’s fault. Why should I make a claim on my own insurance?” This is a question I hear all the time and the answer is simple: you make a claim for benefits under your own policy because you pay your insurance premiums in case of an accident.

Insurance companies offer many different types of coverage options. Two of these options, medical payments coverage and UM/UIM coverage, are referred to as “no-fault insurance”. This means that the insurance company will pay out on these claims whether it was your fault or someone else’s fault and they are not allowed to raise your rates because you made a claim.

Medical payments coverage is exactly what it sounds like: if you are injured in a collision and receive medical treatment, you can submit the medical bill for that treatment and your insurance company will reimburse you for your out-of-pocket costs up to the amount of medical payments coverage you have.

UM/UIM coverage is uninsured or under-insured coverage. This means that if the person who caused the collision did not have coverage or if their coverage does not cover all of your damages, you can tap into this coverage. As one in four drivers in Oklahoma does NOT have insurance, UM/UIM coverage is extremely important to carry.

As your insurance policies renew this year, I strongly recommend you check your declarations page to make sure you have these two coverages. Feel free to call our office if you have any questions.