by CrazedEpidemic » Mon Feb 09, 2009 03:54 am
If I get into in auto accident with my family member in my car and they get injured and I am at fault should I tell them to sue me for as much as possible if I have the coverage limits that will cover it? My insurance rates will go up regardless of the amount of settlement in the next renewal no matter the payout correct?
Posted: Mon Feb 09, 2009 04:30 am Post Subject:
You can... but first people think suing is the 1st step in the collection process. It's not, it's the last step. Your family member is more then welcome to ask for anything they want, including your policy limits. It's up to your insurance company as to if this is going to be the offer. If your family member has $500 in medical bills and is demanding $25,000, it's going to be a long and drawn out claim. That is, just because a demand is made does not mean the insurance company is required to pay it. If your family member makes unreasonable demands, they may need to obtain an attorney to collect. The attorney is then going to take 1/3 of the settlement and is going to be much more reasonable as he/she just wants to get paid.
Keep in mind that rates are determined by the losses suffered by an insurance company. So when you have to pay a huge amount every months to your insurance company, keep the reason why in your mind.
Posted: Mon Feb 09, 2009 05:32 am Post Subject:
Hi..
It's up to your insurance company as to if this is going to be the offer.
If your insurance carrier gets a hint that the claim has been exaggerated, then they would surely transfer the claim to their investigators. Now, it could really lead to a long drawn evaluation process that might end up with penalties imposed on falsified claims.
Think again! Roddick
Posted: Mon Feb 09, 2009 10:55 am Post Subject:
should I tell them to sue me for as much as possible if I have the coverage limits that will cover it?
I would call this collusion, and that's illegal...also keep in mind that ANY loss that has a family memeber, friend, or even someone you casually know as the claimant in an injury claim (especially) is going to get a very very close look....ANY and ALL injured partys should be compensated for the value of their injury, but not one cent more, whether they be relative or not....There are many 'gangs' of low life people that run a scam similar to this and are in jail for their trouble...just be sure (should it happen) that this is not the appearance..
Have you already had this accident? If not why would you think of this? and if you have had the accident what are the injuries and your policy limits?
Posted: Mon Feb 09, 2009 01:31 pm Post Subject:
The reason I am asking is because my current insurance provider is offering the basic personal injury protection but then they have optional coverages in excess of $100,000 for a couple of dollars.
If I was to need to use the coverages Im just wondering if I should tell my friends or family to worry about settling for way less than what they deserve because they might think I will have to cover it out of pocket but if I have the coverage I want to tell them don't worry about it and to get what they deserve.
Posted: Mon Feb 09, 2009 01:35 pm Post Subject:
Lori
I have not had an accident. I was thinking of this because I saw the option to add extra coverage for friends and family. In total I currently have $75,000 for friends and family and am wondering if I should add an extra $100,000 for $16 more dollars every 6 months.
Posted: Mon Feb 09, 2009 01:45 pm Post Subject:
I never heard of a friends and family coverage. I thought onece you set your limits it pertained to anyone hurt due to fault of your own. I think everyone should be valued the same. An injury inflicts just as much pain on a stranger as it does a friend or family member.
Crazed, to protect yourself you should make sure you cover everyone. State limits are usually set too small in my opinion. Look here in PA..the lowest limit you can caryy is $15,000...wqell thats fine as long as you do not seriously injure someone...then what? Lets see what the others say. I had no idea this was even an option and am wondering more about it myself.
Posted: Mon Feb 09, 2009 02:05 pm Post Subject:
In total I currently have $75,000 for friends and family and am wondering if I should add an extra $100,000 for $16 more dollars every 6 months.
I don't know what you mean by 'for friends and family' if you are talking about your Bodily Injury limit (which I think is what you are talking about) that coverage is for injurys to ANYONE that you cause...ie you rearend a vehicle in front of you injuring all of the passengers in that vehicle...now if you also injury the people in your own car that would qualify for BI as well in most states...some have residental and spousal ammunity...I personally would opp for the higher limit...ALWAYS especially since the price for this increase is minor.Posted: Mon Feb 09, 2009 02:12 pm Post Subject:
Yes, the $75,000 is in excess of the $25,000 I have for bodily injury. The 75,000 extra coverage I currently has is only for family and friends and I am able to add an extra $100,000 to that too.
Edit: So if I rearend someone and cause them $25,000 I have the BI coverage for them. Then I have an additional $75,000 for family and friends that were injured in my car.
Posted: Mon Feb 09, 2009 02:35 pm Post Subject:
The 75,000 extra coverage I currently has is only for family and friends and I am able to add an extra $100,000 to that too.
Your BI coverage would pay for the other people...what is this coverage called that you are saying is for 'friends and family'?Edit: So if I rearend someone and cause them $25,000 I have the BI coverage for them. Then I have an additional $75,000 for family and friends that were injured in my car.
Posted: Mon Feb 09, 2009 06:37 pm Post Subject:
This does not sound correct. It looks like it only costs about an additional $16 per six months to raise coverage into a higher amount area. Is this correct? That to me seems a little low for such an increase.
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