It is vital to understand exactly what your insurance policy covers, and ideally before you are even in a car accident. Dealing with insurance can be a frustrating enough process as it is, and if unrealistic expectations enter the mix, then you could end up undermining your claim, or being underprepared for an accident. Here are a few of the many myths that have cropped up about car insurance and how they compare to the reality of things, along with some additional ways you could be compensated after you were in an accident.

If I have full coverage, the cost of a new car will be covered if mine gets totaled in an accident. You might be covered for repairing your car if you have collision coverage, but insurance does not give upgrades. Make sure you know what your policy actually covers. Collision coverage is for damage repair, and comprehensive coverage does not even kick in with accidents. It is for fire damage or for when a vehicle is stolen.

No-fault coverage kicks in when I'm not at fault for a crash. In no-fault states, your own insurance company has the responsibility to cover you, while the other driver's policy has to cover him or her, regardless of who is at fault. You may want to consult a car accident attorney, however, if your medical bills are higher than your policy limit. A lawsuit may be able to cover you for whatever financial losses you could not be compensated for.

Collision coverage affects my ability to sue after an accident. Collision coverage is there to help you meet car repair bills after an accident, no matter who was at fault. However, you cannot collect from your own insurance while also collecting from the other driver's policy. This has nothing to do with filing a personal injury claim, however. If you sustained more than vehicle damage, if you have also suffered injury and financial losses such as missed wages, then you could file a suit against the other driver's insurer to get the compensation you need.

One thing that is not a myth, unfortunately, is that insurers are only seeking a profit, a goal that is totally at odds with your goal of fully recovering after an accident. A legal expert can help you understand the financial damages you are entitled to in your specific situation, under your state's laws. If you are struggling to get a fair settlement from an insurance company, wonder if you can file a lawsuit, or want legal counsel to create a compelling insurance claim, do not hesitate to start working with a skilled car accident lawyer today!