There’s a sneaky way that car insurance companies can get around giving their policyholders the compensation they deserve. Bill Colarulo, Esq., explains one of insurers’ most harmful tricks in 60 seconds.
In New Jersey, drivers can select either Verbal Threshold or No Threshold on their insurance policy. Verbal Threshold, also called the Limitation on Lawsuit Threshold, means that the driver’s right to sue in the case of an accident is restricted to injuries that fall under one of six categories. They must be able to prove that their injuries belong to one of these categories.
The six categories are death, dismemberment, loss of fetus, displaced fracture, significant scarring and disfigurement, or permanent injury.
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