In practical terms, a personal injury victim can only recover a limited amount of money. The at-fault policyholder’s liability limits cap those limits.
While the driver is responsible for any funds their insurance company doesn’t cover, collecting anything more from them is usually functionally impossible.
When purchasing a policy, you need to plan for two contingencies. First: you’re at fault and need an insurance policy capable of covering all the other driver’s damages. Second, you need a policy that will do an excellent job of offering you additional cost coverage.
Purchasing Sufficient Liability Insurance
In Alberta, the minimum mandatory coverage for liability insurance in Alberta is $200,000, but many choose to increase their liability coverage to the maximum whenever they can afford to do so.
Section B Benefits
Section B benefits are also known as “Accident Benefits.” These are benefits that your insurance policy pays out after an accident, regardless of who was at fault for that accident.
Section B typically covers up to $50,000 in medical expenses, disability, rehabilitation, death, and funeral benefits. You can claim Section B even if you are also pursuing a personal injury claim.
Uninsured/Underinsured Motorist Coverage
Uninsured/underinsured motorist benefits are optional, but they can be beneficial any time you get into an accident with a driver that doesn’t have sufficient coverage to pay your bills.
After all, it’s not your fault if the driver who caused the accident broke the law and didn’t insure their car, but that doesn’t mean you’ll be any more successful at squeezing money from that driver, who probably also doesn’t have any assets.
We recommend maximizing this coverage whenever you can afford to do so. Having a good UIM policy can be a lifesaver.
Section C Benefits
Section C Benefits are Family Protection Endorsements or SEF 44 coverage. While this coverage is optional, we recommend you maximize this one, too.
SEF 44 coverage covers family members and passengers in the event of an accident. This is especially helpful in cases where you are the at-fault driver, and a passenger gets injured while riding with you.
Having this coverage can prevent a lot of bad blood, as your passenger will have to file a claim against you to get their medical bills covered. You’ll diffuse much tension if you can look at them and say, “It’s okay. My insurance will cover you.”
Injured in an Accident?
Hopefully, you get to this post before you’re injured in an accident so that you can have the peace of mind that comes with knowing you have adequate insurance coverage no matter what.
Nevertheless, if you’re injured in an accident, you’ll still need outstanding legal representation even if you have the best insurance policy in the world. We can help you both with your own insurance company and the other driver’s insurance company to maximize your benefit payouts.