...ignorance about three types of insurance coverage, “underinsured claims”, “uninsured claims, and “claims under a personal umbrella”. This FAQ will just “scratch the surface”. Underinsurance and uninsurance are purchased so you can file a claim against your own insurer if the person who “injures” you did not have enough insurance, or had no liability insurance, and a “personal umbrella” can provide you liability and underinsurance coverage over and...
...r you in case the person who injures you has no liability insurance. In WV uninsured motorist coverage is mandatory in limits of at least $25,000 per person and $50,000 per occurrence. 8. Underinsured Motorist Coverage (U.I.M.): is the same concept as “uninsured”; it permits you to file a claim, based on negligence and injury by “the other guy”, against your own insurance, without being penalized. You can waive U.M. coverage over $25,000/$50,000 a...
...ty liability coverage; b. Your homeowners; c. Your auto’s underinsured and uninsured coverages. 3. When you pay for your umbrella, your carrier makes you upgrade the coverage you already have, so now your liability coverage is higher, and your underinsured and uninsured coverages are probably at least $200,000 per person and $600,000 per incident. This is how they can write the umbrella for so little; (Ask your agent, but I think that mine costs l...
...s are in place, auto liability, premises liability, underinsured coverage, uninsured coverage, property damage, medical insurance, “med pay”, “personal umbrella”, coverage of other family members, etc.? This can be a very complicated answer. But, getting an overview is essential. If there is no available insurance coverage, where will any recovery come from? Identifying all coverages is often the key to the case. d. What are the injuries identifie...
...oints out what happens to YOU if you are seriously injured or killed by an uninsured or underinsured “tortfeasor”? Do they even tell you what those terms mean? Does Flo explain that you can lose your house and face bankruptcy if you buy a cut-rate policy and hit a kid who skate-boards from behind a sign into your path? They should, but they don’t! And what of the kid whose life you took or ruined? Everyone loses but Flo and Jamie and their greedy...
...yments are subject to “subrogation claims” which I shall discuss below. 3. Uninsured Coverage: Or “U.M.”, is coverage you carry in case the “other guy” is uninsured; that is, has NO personal injury liability coverage. The “state minimum” is $20,000 which is “chicken feed” if your injuries are anything more than minor. 4. Underinsured Coverage: Or “U.I.M.”, is coverage you carry in case “the other guy” has minimal or inadequate liability insurance...
...sion insurance. Makes no sense to have $1000 deductible on a $1000 car. 5. Uninsured Motorist coverage: “U.M.”; $20,000-$40,000 is mandatory in WV. This pays when the guy who hit you has no insurance! Remember, if you get minimum coverage, and are in I.C.U. for 10 days, this will pay for the first couple! Suggest $200,000 – $600,000. 6. Underinsured Motorist coverage:”U.I.M.” This kicks in if the guy who injures you does not have enough insurance....
...r solvent “tortfeasor”. That means they have liability insurance, you have uninsured or underinsured insurance coverage, or it is a large entity such as Fed Ex or Wal Mart. A strong probability of fault by the other guy. When we meet, I will get more details: What did the other guy do wrong? If you did something wrong, was your fault as bad or worse than the other guy? Do you have a medical insurance plan or auto coverage called “medical payments”...
...million in additional compensation for my severely injured client through uninsured and underinsured motorist coverage, umbrella coverage and stacked insurance policies. Was your injury caused by a defective seat belt? Learn more about product liability in car accidents. Contingency Fee Representation Most lawyers charge 30 percent to 40 percent of your recovery whether your auto accident case needs to be tried in court or not. If I am able to re...
...y adequate personal injury and property damage liability coverage. 9. And, uninsured and underinsured motorist coverages when the other driver carries little or no insurance? Just think, the person coming around that curve could put you or your loved one(s) in a hospital for months and pay little or nothing to assist in your recovery. No lost wages, medical expenses, payment for walkers, ramps, care providers, rehabilitation, pain and suffering (w...
