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 Posted: Sun Mar 07, 2010 1:45 am Post subject: After my car accident settlement I had to pay some of my PIP |
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| They paid out the required $5000 towards my medical bills and I had to pay them back. My lawyer adjudicated some of it but not all. I had to give them $2000. I just can't understand that after the high premiums they get and usually don't have to pay out. |
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kiiriwagner
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| Posted: Sun Mar 07, 2010 2:33 am Post subject: |
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| Because you made a recovery from the at-fault parties insurer, your PIP insurer is entitled to get paid back. This right is called subrogation. |
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Trench
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| Posted: Sun Mar 07, 2010 3:40 am Post subject: |
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I've never agreed with PIP subro. It seems pointless. With subro everyone pays and then goes to the expense of recovering the money back. With no subro everyone pays their own. In the long run, it all evens out. Except with recovery it cost the insurance companies a lot of money to recover.
OP, I think you mean your over-all insurance premium is high. That may be... but you have more coverage then PIP. Liability cost the most... which is the coverage that is footing all of your loss.
The bad part of this is perhaps that your attorney did not explain your situation to you and that you'd need to pay part of your amount back to your PIP carrier. Perhaps if he/she had explained this before hand you'd not be as upset. Or perhaps you would have asked for another $2000. This about this... your attorney got his/her 33% before you paid that $2000, right? So it would seem it would not make a difference to your attorney if you knew about this or not... he/she is still making the same amount of money on you claim. Food for thought. |
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tcope
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| Posted: Sun Mar 07, 2010 4:01 am Post subject: |
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| Quote: | | I've never agreed with PIP subro. |
I don't either. Would you believe that I am working a subro, for a claim that happened over a year ago. Wanna know for how much???..............................$75.00.  It's the stupidest thing ever. |
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Trench
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| Posted: Sun Mar 07, 2010 4:04 am Post subject: |
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| Exactly... it's certainly going to cost much more to recover. The stupid thing is I bet if you pointed out that the fact that it would cost much more to recover that they'd still want it. It's go's to the recovery dept's bottom line. No one looks at what it cost to recover... just how much they got back. |
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tcope
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| Posted: Sun Mar 07, 2010 2:18 pm Post subject: |
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Shoot, Trench's bill is probably higher than the 75.00.....you just can't 'fix' stupid..
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"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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