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Full Insurance Coverage: New Options

Posted on: November 3, 2022

LEGALLY REVIEWED BY:
Chi Hung Nguyen
November 3, 2022
Insurance Coverage
Insurance Coverage

Full Insurance Coverage: New Options

The term insurance coverage actually refers to both actual coverage and potential coverage, which means that a person has made a claim but it is not yet clear whether the particular claim is covered based on the facts currently available. “Full insurance coverage” is casually used to describe the minimum state requirements for auto insurance coverage, but there are many types of insurance options and sometimes these coverage areas overlap. Experienced attorneys can help you establish your claim’s coverage and secure your right to relief.

Like any contract, understanding how insurance policies interact with each other and the effect of their legal terms can be unclear to those without a professional background or legal knowledge and experience in this area. Some insurance policies have exclusions that may be unclear, especially when it acts in conjunction with other policies the insured has and that may apply.

If you struggle to afford medical care because your medical insurance policy has expensive deductibles and co-pay, or because you do not have any insurance, there are a few potential ways you may be able to increase your insurance coverage for the least cost.

Shift your medical bills to your auto insurance and other policies

Understanding how your various auto insurance, medical insurance and any other policies can work together for your benefit can be challenging. But there are ways to maximize your medical coverage for minimal cost so that if you are ever involved in a car accident, you can ensure you have peace of mind knowing that your health will come first. For both personal and commercial drivers, insurance companies usually offer between $1,000 and $5,000 in medical pay coverage, but some insurance companies will increase that amount up to $100,000 in exchange for a small payment of about $60-100 a year. This monthly amount is much less than the typical fee for medical insurance, which is typically at least $300 or more a month. Using this method may allow you to cover all of the medical costs you may suffer in the event of a car accident, since $100,000 would likely cover the cost of your medical care, large co-pay amounts or deductibles. If you are injured, it is important to inform your attorney of any insurance policies you have. You and your attorney can review relevant insurance policies’ terms to ensure that the benefits are payable regardless of your existing medical coverage.

Purchase specialized insurance for sports and other activities.

If you participate in certain sports or activities that involve some degree of risk, you may have the option of buying specialized insurance. Some of the sports with specialized insurance include:

  • Scuba Diving,
  • Hunting,
  • Horseback Riding,
  • Skating,
  • Skydiving,
  • Gymnastics, and
  • Boxing or Martial Arts

Sporting insurance organizations not only offer coverage for the injuries you may suffer as a direct result of the activity, but may also cover injuries if you are hurt outside of the country.

For example, many scuba diving certification organizations and companies use services like those provided by Diver’s Alert Network which provides specialized insurance for scuba divers. This specialized insurance covers safety and educational programs as well as lifesaving evacuations for hundreds of thousands of divers around the world every year. Without this specialized insurance, an injury that requires treatment involving a decompression chamber and emergency evacuation can cost between $25,000 to $100,000. These policies offer coverage of $100,000 up to an unlimited amount in exchange for under a couple hundred dollars a year. Under these policies, claimants typically do not have to pay a medical deductible in order to get these medical benefits.

Consider Annual Travel Insurance

After COVID-19, many have recognized a need for a plan in the event they need are caught outside of the country without insurance and the ability to return to their home country. For those who work abroad, many companies offer both medical benefits and emergency evacuation expense coverage. Depending on the insured’s age and the insurance policy’s coverage limits, this can cost about  $200 to $800 a year. It is worth noting that some insurers will push for domestic medical treatment rather than receiving medical treatment abroad, since it can cost more to pay for medical treatment abroad. Still, it may be a more affordable option than seeking coverage for these kinds of medical expenses under a traditional medical insurance plan.

Despite the fact many laws require insurance companies to disclose all available policy coverage, insurance companies have often exposed themselves to lawsuits because they withheld information about available coverage – especially if a claimant does not ask for this information. In large part, this happens because claimants and even the insurance company’s own representatives do not fully understand the full scope of coverage benefits and the complex insurance claims process. Sometimes the insurance company’s actions are considered to be made in bad faith, or even fraud. Insurance companies may risk exposure for a second lawsuit for bad faith if they believe they can get away with it, as seen in countless lawsuits.

Contact an experienced personal injury lawyer

Navigating complex personal injury cases and handling insurance companies can make the recovery process even more difficult. Experienced attorneys strategically weigh the cost and benefits of each case to minimize the time and expense involved while maximizing their clients’ compensation. They can also provide guidance in interpreting the language of your policy in relation to your case.

Are you trying to secure your financial recovery with the help of experienced attorneys? If so, we can help.

The Pusch & Nguyen Law Firm has helped countless Texans handle their insurance disputes. Our experienced trial lawyers have gone up against some of the biggest names in the insurance industry while successfully bringing home payouts for clients. Our successful reputation speaks for itself, and with offices in both Houston and San Antonio, we are well equipped to assist Texans who are in dire need of our services. Register online for a free case evaluation or call us today at 713-528-8108 (Houston) or 210-702-3000 to schedule an appointment with a member of our team.

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