by Guest » Thu Feb 07, 2013 01:39 pm
I was in an accident where the other person said they were injured (neck, back, can't smell any more with nose). I was given ticket for red light because the officers said a retired sanitation worker was there and saw me go through light. Now we are being sued and they want $500,000. My insurance co. said that was absurd and offered them $50,000. Also they said I tried to leave scene which did not happen and I separately got that reduced and gone to court separately. If this goes to trial can I be possibly getting a penalty other than what the ins. co. will pay?
Posted: Thu Feb 07, 2013 02:21 pm Post Subject:
The short answer is yes.
First, is it just a demand or was suit actually filed? There is a big difference.
In either case most attorneys will usually demand some stupid amount that no one ever thinks the claim is actually worth. I'm looking at a recent injury claim where the person had $700 in treatment and the demand is $45,000. There is no penalty for asking for some crazy number so why not.
If indeed it's actually in suit what you may want to do is write a letter to your carrier and ask that they settle the claim for your $50,000 policy limits. If the case goes south (unlikely) and the other party is awarded an excess verdict (over your policy limits) you can then consider filing a Bad Faith claim against your own carrier for the difference. That letter will help in that regard. It's basically a way to "set your carrier up". As an adjuster, it sucks as your carrier is trying to settle the claim for the correct amount and pay the other person only what they are owed but now they also have to consider paying too much on the claim to avoid having you suit them afterward for more then your policy limits. But that is business.
Posted: Thu Feb 07, 2013 02:38 pm Post Subject:
The other thing that PI attorneys are banking on (literally) is that insurance companies know in most cases it's less costly to write a big claim check than to fight a civil suit. Why spend $40,000 to fight a $10,000 claim? Write a check for $50,000 and be done with it -- the net cost is only $10,000.
The insurance companies simply get it back from the rest of us through higher premium payments. Charge 1,000 policyowners $10 per year or 10,000 policyowners $1. Done.
Posted: Fri Feb 15, 2013 02:05 pm Post Subject: inquiry
similar situation....if my son "left scene" and it was dismissed... can this cause him any problems in the new trial with the people suing? i.e. can he get personally effected with community hours or jail etc? or is this a cleAR CUT CASE OF INSURANCE co. vs them for us
Posted: Fri Feb 15, 2013 02:25 pm Post Subject:
can he get personally effected with community hours or jail etc?
Being sued civilly for a tort offense does not result in going to jail or probation or community service. Being found responsible for a tort means having to pay money to someone because you damaged them in some manner.
Posted: Fri Mar 01, 2013 06:20 pm Post Subject:
ps.... I also have an umbrella policy....
Posted: Fri Mar 01, 2013 07:15 pm Post Subject:
I also have an umbrella policy.
What would you like to know about it?Posted: Sat Mar 02, 2013 02:04 am Post Subject:
PPS I own an umbrella and a policy.
Posted: Sat Mar 02, 2013 04:55 am Post Subject:
I know someone who wraps his umbrella in his policy to protect it from the rain.
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