New Jersey Automobile Insurance Coverage Recommendations
We recommend that you purchase a no limitation on lawsuit, and not the verbal threshold policy. It is important that you specifically instruct your insurance agent, broker or carrier in writing to provide the no limitation on lawsuit threshold. Sometimes insurance companies offer agents and brokers incentives to write limitation on lawsuit policies, thereby limiting the insurance company's future exposure. In such instances, some insurance agents and brokers will not even advise their customers of the choices available and/or their consequences. Moreover, if you do not expressly choose the no limitation option, you will receive the limitation on lawsuit option by default.
Failing to choose a no limitation on lawsuit policy directly and dramatically affects claims for injuries. It is our experience that insurance companies will not offer reasonable amounts to settle verbal threshold cases before trial, and they almost never make a reasonable settlement offer before seeking dismissal of the case by the Court. Some insurance companies, as a matter of policy, always take limitation on lawsuit cases to trial, significantly increasing both the time (until trial is reached) and costs incurred in bringing a claim.
At trial, insurance companies will present the testimony of defense doctors, who invariably testify to the jury that any injuries sustained are not permanent.
In short, a limitation on lawsuit/verbal threshold policy essentially eliminates the chances of obtaining a fair and prompt resolution of any claim for injuries sustained in a New Jersey automobile accident.
We recognize the burden of the additional cost involved in the purchase of a no limitation on lawsuit policy. However, we believe that the cost of not purchasing a no limitation on lawsuit policy, in light of the substantial difficulty in successfully obtaining fair, prompt and reasonable compensation for injuries, is far greater to you and your family. We strongly urge you to carefully consider all of the issues in making this very important decision which directly affects you and your loved ones.
Should you have any questions, or seek further information regarding the legal ramifications of this and other New Jersey automobile insurance issues, please contact us for a free consultation at your convenience.