by Goodnaz » Thu Jan 10, 2008 01:58 am
Someone hit my car from back. My car was totaled and I was In emergency room for 5 hours. Short story, the cheap ins. paid my value of my car. I hired a lawyer for health and damage..... You know what I mean. the cheap Ins. doesn't want to pay my offer trough my lawyer. The cheap Ins. telling us that their limit by law is $25000.00 or 20,000.00 . this offer is not covering my medical bills and attorney fee. please let me know what I have to do ? Should I hire another attorney or not?
Posted: Thu Jan 10, 2008 05:57 am Post Subject:
If they offered their policy maximum no attorney is going to be able to get more from the insurance company. What is worse is that your attorney is going to take 33% of that offer, basically for doing nothing.
Your attorney should run an assest check on the other person to see if they have anything of more value. Of course, this is _highly_ unlikely and most attorneys would rather just take 33% of the carriers offer and call it a day. Otherwise, if they were to file suit against the other party directly, they won't get the insurance money until the suit is settled, the attorney will end up spending about $10k more on fees and those fees plus 40%, instead of the 33% would be taken out of any settlement.
This is one reason why people should consider paying for Underinsured Motorist Bodily Injury (UIMBI). If the other party does not have enough coverage, your policy would then step up to the plate and consider an additional amount.
Posted: Thu Jan 10, 2008 01:00 pm Post Subject:
You got all the info you need I just want to correct you re: ''cheap insurance'' the person that hit you more than likely only purchased the state mandated limits...which in this case (and most) are way too low! another good reason to purchase (on your policy) UIM! as tcope mentioned!
ps check your own policy what are your BI limits?
Posted: Fri Jan 11, 2008 06:04 am Post Subject: Why its like that!
Yes, UIM would definitely cover for the amount for which the other person has a dearth of liability coverage. I'd also say that hiring an attorney is not the solution.
ps check your own policy what are your BI limits?
This could be one good ploy!
callahan_debra
Posted: Fri Jan 11, 2008 09:42 am Post Subject:
Just to clarify the OP cannot use his own BI coverage...just thought it might be a good time for him to check his own as very possible he too only as 20-25k, and would be a good time to increase them, as he see's now the hazards of low limits...
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