A question that I often receive from clients and others is whether they should choose the Limited Tort option on their insurance policy. The premium is cheaper, so why not? I’ll tell you why not, because it could be one of the biggest mistakes that you’ll make for yourself and for your family. Limited Tort is a recently added selection made available to auto insurance policy holders to decrease the overall cost of their yearly premium. Unfortunately, many people do not inquire as to why their premium is reduced by selecting this option or what rights they are giving up.
By selecting the Limited Tort option on your automobile insurance policy, you are signing away your rights to recover
for non-economic damages if you are involved in a motor vehicle accident. What does that mean? You are giving up your right to recover for pain and suffering in return for a reduced premium.
For example, let’s suppose that you or a family member are involved in an automobile accident that is clearly the fault of the other driver. Let’s also assume that You or your family member miss work for a period of several weeks, suffering a broken arm, broken leg, several bruises and lacerations, and a lengthy hospital stay. If you have chosen the Limited Tort election, you may only be able to recover unpaid medical bills and lost wages. You may not be compensated for the pain, suffering and inconvenience that you have encountered unless you meet one of a handful of exceptions to the Limited Tort rule.
Before selecting the Limited Tort option, take careful consideration of the consequences of that choice. You will save
a small amount of money on your premium in the short term, but you may be signing away a substantial benefit in the long term.
Have more questions about Limited Tort? Contact my office today. I provide free consultations for clients throughout Western Pennsylvania, including Home and Hospital visits, if necessary. To set up a free initial consultation, contact my office at 412-823-8003 or send an email to Attorney Greg Artim