Uninsured Motorist Coverage Information

Who pays? How much? A dispute between the two insurance companies

Fri, 7 Oct 2005 10:31:00 -0400

Generally speaking, the damage to your car is either the cost of repairing your car to the same condition it was in before the accident, or if totalled, the value at the time of the accident. If the car has a loss in re-sale value, that may also be a damage. If the repair cost is more than the value of your car before the accident, then the car is "totaled" and you get the pre-accident value.

Consumer Alert: Auto insurance

Mon, 6 Jun 2005 11:02:08 -0400

http://www.wistv.com/global/story.asp?s=3423990&ClientType=Printable (National) June 2, 2005 - Kathy Sommerich Handel had a car accident last year. Her two children were in the back seat. "It was really scary because the kids were screaming. They had never experienced anything like it." Fortunately, no one was hurt. Kathy's also lucky that she had enough insurance to cover the damage, so there was no financial impact either. How can you keep a collision from becoming a financial disaster?

Consumer Reports Money Adviser Laura Washington says be aware, the state insurance requirements may leave you vulnerable. "If you own your own home, or if you have assets, they could be at risk if you're underinsured."

So what's sufficient auto insurance coverage for homeowners? For both bodily-injury and uninsured motorist coverage, you should be covered for $250,000 per person and $500,000 per accident.

Washington says, "It'll raise your premiums about ten, ten percent, but it's clearly worth it if it could, if it means saving your home." And the Consumer Reports Money Adviser says another area where people are often underinsured is property-damage coverage. "States typically recommend between $10,000 and $25,000 worth of coverage. But we recommend $100,000 worth of coverage, just in case you hit a really expensive car."

And in the chaos that follows an accident, people often forget what information they need. Ask to see the driver's license and insurance card as well as the vehicle registration. Also, be sure to note the make, model and license plate of the car. Kathy says she made a point of staying calm after her accident, and that helped ensure that she got the information she needed.

Consumer Reports says it's a good idea to carry a disposable camera in your car in case of an accident. You can take pictures of the scene, your car and the other vehicle involved. This can help protect you against claims for damage that you didn't cause. Michael Monheit, Esquire of Monheit Law, P.C.
Toll Free: 866-761-1385
Email: Michael Monheit

Don't be fooled by a wolf in sheep's skin!
Were you told by your insurance company that "you should not contact an attorney?" Are you unhappy with the settlement amount that your insurance company gave you? Even if you already settled your case, you may be entitled to bring a claim against your insurance carrier if they gave you bad advice. In fact, if you settled with your own insurance company, without consulting an attorney we want to know why?

Contact Monheit Law about your Uninsured Motorist coverage case.
Michael Monheit, Esquire
Toll Free: 866-761-1385
Email: Michael Monheit

Do You Have Enough Car Insurance

Tue, 31 May 2005 11:02:11 -0400

Do You Have Enough Car Insurance
Consumer Reports
TriCities.com
Tuesday, May 31, 2005

There are more than six million car accidents every year on roads and highways.

It takes a split second for something to go wrong. And there’s more than physical injury at risk - a bad accident can wipe you out financially. You could loose everything you own. Consumer Reports Money Adviser has what you need to know to protect yourself.

Kathy Sommerich Handel had a car accident last year. Her two children were in the backseat.

Kathy says, "It was really scary because the kids were screaming. They had never experienced anything like it."

Fortunately, no one was hurt. Kathy's also lucky that she had enough insurance to cover the damage, so there was no financial impact either.

How can you keep a collision from becoming a financial disaster?

Consumer Reports Money Adviser's Laura Washington says be aware the state insurance requirements may leave you vulnerable.

She says, "If you own your own home, or if you have assets, they could be at risk if you're underinsured."

So what's sufficient auto insurance coverage for homeowners? For both bodily-injury and uninsured motorist coverage, you should be covered for 250-thousand dollars per person and 500-thousand dollars per accident.

Washington says, "It'll raise your premiums about ten, ten percent, but it's clearly worth it if it could, if it means saving your home."

And Consumer Reports Money Adviser says another area where people are often underinsured is property-damage coverage.

"States typically recommend between 10 and 25 thousand dollars worth of coverage. But we recommend a hundred-thousand dollars worth of coverage just in case you hit a really expensive car," says Washington.

And in the chaos that follows an accident, people often forget what information they need. Ask to see the driver's license and insurance card as well as the vehicle registration. Also, be sure to note the make, model and license plate of the car. Kathy says she made a point of staying calm after her accident, and that helped ensure that she got the information she needed. Consumer Reports says it's a good idea to carry a disposable camera in your car in case of an accident. You can take pictures of the scene, your car and the other vehicle involved. This can help protect you against claims for damage that you didn't cause Michael Monheit, Esquire of Monheit Law, P.C.
Toll Free: 866-761-1385
Email: Michael Monheit

Contact Monheit Law about your Uninsured Motorist coverage case.
Michael Monheit, Esquire
Toll Free: 866-761-1385
Email: Michael Monheit

Motorist Financial Responsibility Legislation Passes Texas House

Mon, 23 May 2005 11:02:13 -0400

May 16, 2005

Legislation establishing a program to improve enforcement of motorists' financial responsibility obligations passed the Texas House of Representatives, according to its sponsor, Rep. Bill Callegari (Katy).

"Although state law requires that all Texas drivers maintain financial responsibility, thousands of motorists continue to drive and get in accidents on Texas roads each year," Rep. Callegari said. "The measure that I passed in the House of Representatives requires the implementation of a program to better ensure compliance with this law."

According to the Texas Department of Public Safety, over 20 percent of Texas drivers carry no insurance while operating vehicles on state roads. This high number of uninsured motorists has costs Texans. According to the Texas Department of Insurance, in 2003 Texans paid approximately $861 million in premiums relating to uninsured motorist coverage.

As approved by the House of Representatives, Senate Bill 1670/House Bill 2573 requires the Department of Transportation, in consultation with the Department of Insurance and the Department of Information Resources, to develop a program for the verification of motor vehicle owners' financial responsibility. The bill requires that the program operate reliably, be cost effective, and sufficiently safeguard the privacy of motor vehicle owners.

"This bill does not micromanage how the affected agencies are required to implement this program," Rep. Callegari said. "Adding too much detail by way of statutory mandates can sometimes be counterproductive, and even hinder the effectual implementation of the Legislature's intent. This bill avoids that pitfall by enunciating our expectations for a financial responsibility verification program and gives the agencies the necessary flexibility to implement it."

Twenty-seven states have implemented programs similar to the one proposed in SB 1670. Of these states, the average uninsured motorist rate was 26 percent before the program's implementation, while the average post-implementation rate was nearly nine percent. For example, in Utah, implementation of a similar program dropped its uninsured motorist rate from 23 percent of all drivers to 8 percent.

"For the past few sessions, the Legislature has continually tried to develop a program that improves motor vehicle owners' compliance with state law," Representative Callegari continued. "The bill past on Tuesday is a significant step towards our goal of reducing the number of uninsured motorists on Texas roads."

Rep. Glenn Hegar (Katy), who co sponsored this legislation, noted "With one in four automobiles having no liability insurance on Texas roads, this legislation is a move in the right direction to protect our families, cut insurance premiums, and improve public safety. I strongly support Representative Callegari's work on this legislation, because this is a victory for Texas."

Find this article at: http://www.insurancejournal.com/news/southcentral/2005/05/16/55018.htm Michael Monheit, Esquire of Monheit Law, P.C.
Toll Free: 866-761-1385
Email: Michael Monheit

Contact Monheit Law about your Uninsured Motorist coverage case.
Michael Monheit, Esquire
Toll Free: 866-761-1385
Email: Michael Monheit

What to do when the other driver does not have insurance?

Tue, 19 Apr 2005 10:31:33 -0400

I was hit by an individual that did not have insurance?. WHAT SHOULD I DO... ?

You are not alone. This happens every day. Hoepfully you bought a special type of coverage called UM/UIM (uninsured motorist / under-insured motorist) coverage. In that case, your own insurance company will need stand in the shoes of the uninsured driver's. But realize, now they are your adversary! And to get the most money, you may want to consider hiring a lawyer.

If you do not have uninsured motorist coverage then your only hope is that the person who hit you is rich, and that you can go after thier assets.

As a result of there being so many uninsured dirvers, this is an important coverage to carry. Check your policy now!

Michael Monheit, Esquire of Monheit Law, P.C.
Toll Free: 866-761-1385
Email: Michael Monheit

Contact Monheit Law about your Uninsured Motorist coverage case.
Michael Monheit, Esquire
Toll Free: 866-761-1385
Email: Michael Monheit

Two tips about your insurance company and your UM/UIM policy

Tue, 19 Apr 2005 10:31:28 -0400

The two most imporant things to know about your insurance company are:

1. Call a lawyer. Don;t rely on the advice of the insurance adjuster.

Why?

2. The insurance adjuster is not your friend, they are your adversary.

An insurance company does not want you to get a lawyer. But it is your right. The insurance adjuster will often "advise" you not to hire a lawyer, since you'll have to pay a fee. Tell the insurance adjuster to call your lawyer, not you. The insurance adjuster is not their to help you. They are their to help the insurance company make money.

Michael Monheit, Esquire of Monheit Law, P.C.
Toll Free: 866-761-1385
Email: Michael Monheit

Contact Monheit Law about your Uninsured Motorist coverage case.
Michael Monheit, Esquire
Toll Free: 866-761-1385
Email: Michael Monheit

My Insurance Company Says I Don't Need a Lawyer

Tue, 19 Apr 2005 10:31:24 -0400

My Insurance Company Says I Don't Need a Lawyer

Remember the old saying, "Follow the money." Well, follow the money. Insurance Companies are designed to make money. How? They make money by collecting your premiums, and reducing what they pay out in claims. They invest the balance in real estate, the stock market, bonds, etc. They like to collect premiums and hate to pay out claims.

An insurance adjuster is supposed to reduce the amount of your settlement. In fact, some insurance companies train the adjusters on how to talk you out of hiring a lawyer. They even have departments set up to take advantage of non-represented insureds.

When there is no lawyer, the injured person usually settles for less... sometimes even for nothing.

That is why insurance companies don't want you to hire a lawyer.

Michael Monheit, Esquire of Monheit Law, P.C.
Toll Free: 866-761-1385
Email: Michael Monheit

Contact Monheit Law about your Uninsured Motorist coverage case.
Michael Monheit, Esquire
Toll Free: 866-761-1385
Email: Michael Monheit

What is UM coverage

Tue, 19 Apr 2005 10:31:19 -0400

What is "underinsured motorist" coverage?

Uninsured/Underinsured Motorists Coverage (UM./UIM): Allows you to collect money from your own auto insurance policy if you are injured by an uninsured or underinsured driver.

In this case, your own insurance carrier has the right to use the same defenses that the other driver may have had against you. So your insurance company is no longer on your side.

This means they are your adversary. Thus, you should hire a lawyer to protect your interests. Your own carrier will NOT be looking out for your interests, even though you paid them a premium for the insurance.

The coverage is commonly called, "un-insurance" or "under-insurance" or UM or UIM coverage. The coverage not only covers you while you are in your car, but also often when you are in another person car, or even if you are a pedestrian. Also, it also protects injured people in your house in the case of auto accidents, pedestrian cases, and hit and run cases.

Michael Monheit, Esquire of Monheit Law, P.C.
Toll Free: 866-761-1385
Email: Michael Monheit

Contact Monheit Law about your Uninsured Motorist coverage case.
Michael Monheit, Esquire
Toll Free: 866-761-1385
Email: Michael Monheit

Dirty tricks played by insurance companies in settling UM and UIM claims

Tue, 19 Apr 2005 10:31:15 -0400

"Don't trust the insurance adjuster." That is the first piece of advice I give someone who wants to handle a claim on their own.

"Why?" they might ask.

I tell them, "Because they are in the business of collecting premiums and paying out as little as possible. Insurance companies are NOT your friends!"

Be careful what you sign. They may want you to sign a witness statement or to endorse a check. You need to be careful what the statement say, or what is written on the check. It could wipe out your future rights. An insurance company might seem nice, when they pay for the damage on your car. But be careful if there is a release, it could take away your rights to personal injury damage.

Be careful of delays. If an insurance company can get you to delay hiring a lawyer and filing a lawsuit by delaying your case past the statute of limitations, then you will not have a case. Don't wait until it is too late.

Be careful what you say. Some insurance companies ask to take a recorded statement from you by phone, immediately after the accident. They want to do this before any of the swelling and nerve damage has become apparent. So it seems like you feel fine, when in a few days you may be very sore. Then they will use that statement later to make it look like you have "made up" your injuries.

Be careful when they show up at your door or at the scene of the accident. For example, I have handled cases where Progressive insurance arrived at the scene of the accident and others where they came out to my client's home. They want to get to you before you get to a lawyer. Think about that. Why? Because they don't want you to get sound advice.

Be careful - even when its your own insurance company. Uninsured/underinsured motorist coverage is coverage, you buy in case the other person does nto have insurance. "Your insurance company" becomes "their insurance company". And thus, they are no longer on your side!

Insurance companies need lawyers!! You need a lawyer too!

Michael Monheit, Esquire of Monheit Law, P.C.
Toll Free: 866-761-1385
Email: Michael Monheit

Contact Monheit Law about your Uninsured Motorist coverage case.
Michael Monheit, Esquire
Toll Free: 866-761-1385
Email: Michael Monheit

What is the best way to negotiate with an adjuster?

Tue, 19 Apr 2005 10:31:10 -0400

Instead of thinking that your insurance adjuster is on you side, imagine that they are the other player in a board game (checker,s chess). Just as you could read a book on "how to" play chess, there are books and web sites with information on how to settle your case without paying a lawyer. In fact, the insurance adjuster may even encourage you to try to settle without a lawyer by telling you how much of your settlement the lawyer would take as his.her fee!
Remember that your lawyer should have many years of experience and training. With this experience, they can understand the nuances of your case, and develop a solid strategy -- just as you would love to have a Chess Master advising you on every move.
Michael Monheit, Esquire of Monheit Law, P.C.
Toll Free: 866-761-1385
Email: Michael Monheit
Don't be fooled by a wolf in sheep's skin!
Were you told by your insurance company that "you should not contact an attorney?" Are you unhappy with the settlement amount that your insurance company gave you? Even if you already settled your case, you may be entitled to bring a claim against your insurance carrier if they gave you bad advice. In fact, if you settled with your own insurance company, without consulting an attorney we want to know why?
Contact Monheit Law about your Uninsured Motorist coverage case.
Michael Monheit, Esquire
Toll Free: 866-761-1385
Email: Michael Monheit