if 2 people are in

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PostPosted: Mon Oct 01, 2007 10:41 pm   Post subject: if 2 people are in  

if 2 people are in an accident where the driver who hit them has mimimum insurance of 25,000 50,000. can one who has worse injuries received more than 25,000 as long as they don't go over 50,000 total

yvonnemcgovern
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PostPosted: Tue Oct 02, 2007 2:17 am   Post subject:   

Great question. The limits are as follows: $25k per person with a total of not more then $50k being paid per accident. So no, one person cannot be paid more then $25k Example: one person is owed $30k and the other person is owed $10k. The first person can _only_ be paid a max of $25k and the other person would be paid the $10k.



If there were 6 people in the accident, each being owed $10k, then the max paid would be $50k with each person only being paid a percentage of what they were owed.

tcope
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PostPosted: Tue Oct 02, 2007 6:36 am   Post subject:   

Hi yvonne mcgovern, no you can't get more than $25,000 for bodily injuries for one person. The minimum liability coverage requirement in Virginia is 25/50/10.



That implies that $25,000 is payable for the bodily injuries suffered by a single person in an accident and $50,000 for all the people involved in it. Therefore, you can only receive upto $25,000 from the at-fault party's liability insurance and under no circumstances more than $25,000.



Hope the input helps.



Regards,

Juanita

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Juanita

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PostPosted: Tue Oct 02, 2007 7:06 am   Post subject:   

Great! tcope, very informative post. And I think that it will help Yvonne to understand his situation very clearly. Form my past experiences I have seen that many people have problem in understanding these divisions. They inculcate this misconception in them that they will be compensated for the entire amount of loss no matter what the policy limit is. More often than not, the coverage level is grossly misinterpreted. That is why one needs to understand his/her policy terms very clearly.



I hope your post will help not only Yvonne many others also to understand the thin line between the different coverage segments.



Thanks, Fatman

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fatman

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PostPosted: Tue Oct 02, 2007 10:15 am   Post subject:   

The only other coverage that could provide assistance when an injury exceeds policy limits is to file a UIM (under insured motorist) claim with your carrier. UIM is required in many states, and optional in others. Other than the obvious, sueing the negligent party for the 'balance'.

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Lori
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PostPosted: Wed Oct 03, 2007 1:18 pm   Post subject: UIM  

I am 100% comfortable advising anyone to purchase UIM insurance even if it ISNT required in your state. Most accidents that cause even minimal injuries can easily surpass minimum required coverages. Medical bills alone can surpass 25,000 minimum coverage let alone loss wages, loss of consortium, pain and suffering etc..



I currently have $100K/$200K UIM and plan on increasing it again once my current claim has been settled. That UIM can be a LIFESAVER trust me on this.

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PostPosted: Wed Oct 03, 2007 11:41 pm   Post subject:   

Well said Ksomers, anyone who thinks he doesn't know what he's talking about or would like a good practial story/lesson to support his statements should read his other posts!

Lori
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Lori
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