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What is an Insurance?

Insurance is a generic term that refers to any agreement under which one can receive compensation in the form of money or other benefits for losses incurred. The losses have to satisfy a number of prerequisite conditions. The majority of insurance contracts include clauses regarding:

  • Where and when a loss occurred
  • The nature of the damage (for example, if it was caused by a collision in the case of an auto insurance policy)
  • Certain categories of prohibited items
  • Certain individuals or properties that are taken into account
  • How the costs of the losses will be calculated and distributed

Contracts for insurance are typically lengthy and difficult documents that detail all of this information as well as additional details. This contract is not only drafted by an insurance company, but that same company will also consult with an insurance adjuster to decide whether or not your loss is covered and how much money should be paid out for the damage.

Which Insurance Options Are Available in Georgia?

You can purchase insurance to cover almost any kind of financial loss. The following is a short list of some of the many different types of insurance available:

  • Auto Insurance
  • Travel Insurance
  • Health Insurance
  • Homeowners Insurance
  • Life Insurance
  • Flood Insurance
  • Renter’s Insurance
  • Pet Insurance
  • General Business Liability Coverage

Automobile, health, and homeowner’s insurance are the three types of coverage that are purchased by individuals the most frequently. Regardless of the type of insurance being purchased, each and every policy contains a “limitation.” These amounts, referred to as “policy limits,” represent the maximum sum of money that an insurance provider is obligated to pay out to either their insured client or another individual who has been harmed.

How Does Car Insurance Work?

Due to the fact that those who drive on Georgia’s roads are legally required to have minimum levels of auto insurance coverage, auto insurance will come into play in the aftermath of virtually any kind of car accident. 

Georgia is a fault state, which means that the driver who was at fault for the accident must make restitution for the damages that they caused. Every motorist ought to carry insurance that covers both their own bodily injuries and any damage they might cause to other people’s property.

The following timetable applies to the majority of auto accidents and insurance claims:

Notifying the Insurance Company: After a collision between two vehicles, it is imperative that both drivers immediately report the incident to their respective insurance companies. It is in your best interest to inform your insurance company of the incident, even in the event that you were not the one who caused the collision. If the other driver does not have insurance or if you have certain types of insurance coverage, such as collision coverage or uninsured motorist coverage, then your own insurance company may also pay you for your losses in addition to the other driver’s insurance company.

Initial Investigation: After receiving notification that a claim has been made, the insurance provider will launch an initial inquiry. They will want to know what took place, who was involved, how extensive the injuries and damages were, and who was responsible. They will be able to determine whether or not their insurance policy was activated and how much they may be required to pay for the claim under the policy with the assistance of this type of information.

Accepting or Denying the Claim: The decision regarding whether or not the insurance company will honor the claim will be made after the investigation has uncovered all of the relevant facts. It will depend on the insurance policy as well as the specifics of the case as to whether or not the insurance company will pay out on the claim, defend itself against a lawsuit, or refuse to provide any assistance at all.

In-Depth Investigation: When an insurance provider determines that coverage is available, the next step is for them to conduct some additional research. Obtaining your medical records, obtaining witness statements, or consulting with experts could all be part of this process. This investigation process can go on for a very long time, and it is likely that it will continue even after you have filed a lawsuit against the other party. They might get in touch with you to inquire further or make a settlement offer in addition to that.

Negotiation or Lawsuit: Either the insurance company will attempt to negotiate a settlement with you before you file a legal claim, or they will compel you to file a claim so that they can collect their payment. Your personal injury attorney will be able to assist you in presenting your case to a judge or jury in court, as well as communicating with the insurance company.

The primary objective of the insurance industry is to generate profits. In the event that you are involved in a car accident, the insurance company for the other driver will almost certainly make an effort to discredit your claim or pay you as little as possible. Our legal practice sees to it that the insurance company never takes advantage of people who have been hurt in car accidents.

Contact the Personal Injury Lawyers at The Brown Firm

If you have been injured, the experienced personal injury attorneys at The Brown Firm offer free consultations to accident victims in Georgia and South Carolina. Contact us at 800-529-1441 to schedule a free consultation if you were involved in an auto accident that wasn’t your fault.

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