Many people have been looking to save money because of the economic slowdown caused by the COVID-19 pandemic. However, there are certain coverages you should not drop from your policy, as they can help protect you financially after an accident.
Last week, Schmidt Kramer partner Scott Cooper was on Good Day PA discussing the coverages Schmidt Kramer recommends for Pennsylvania drivers, along with some practical steps to help protect your rights if you are involved in an accident.
For instance, Cooper recommends adding gap insurance to your car insurance policy. This coverage pays off your auto loan if your vehicle is totaled and you owe more than the car is worth. Under Pennsylvania law, car insurance companies can only pay out the value of your vehicle, unless you have gap coverage.
“You can remove this coverage once you owe less than the car is worth,” Cooper said. This coverage would only cost you about a dollar or two extra per month on your car insurance premium.
Schmidt Kramer offers a free initial consultation to discuss your legal options after a crash. There is no obligation to hire our firm and we are not paid unless you receive compensation at the end of the legal process.
Call today: (717) 888-8888. We have a proven track record of recovering compensation for Pennsylvania car crash victims.