Recent Posts in Insurance Category

Most people don't have any idea what their auto coverage entails until they are in an car accident, but then it is too late to correct it. Some people want the cheapest coverage which is a mistake. For just an extra few dollars a month, you could have very good coverage. What makes it difficult is that often the insurance agent does not understand all aspects of auto insurance or he is not interested in taking the time to carefully explain why you should have good coverage. Since good coverage does not cost much more than bad coverage, there is very little commission for the agent. A good agent will take the time if you ask him to explain your coverage and what you need.

Let's look at an example. You are driving your car with your daughter as a passenger when another vehicle pulls out in front of you on the highway and you and your daughter end up in the hospital for two weeks and have medical bills of $150,000 each. You lost time at work, had pain and suffering, and other damages. Your case is worth $275,000 and your daughter's is worth $200,000 if settled or tried. You go to an attorney and he submits a settlement demand to the other driver's  insurance company. ABC Insurance company informs your lawyer that the driver only carried $25,000 liability limits. Your attorney checks with your insurance company to see if the underinsured portion of your policy will pick up the rest. The uninsured/underinsured portion of your coverage protects you and your passengers if someone runs into you who has no insurance or not enough insurance. Your very own insurance company tells your lawyer that you only have $50,000 underinsured coverage. That means you will receive $75,000 total for your claim and lose out on $200,000. That also means your daughter will receive $75,000 total for her claim and lose out on $125,000.  For $4.00 a month more, you could have had coverage that would have paid your claim in full ($275,000) and your daughter's claim in full ($200,000). This situation would make you sick if you learned you were grossly underinsured after the auto accident, especially when you learned that you and your daughter could have been fully protected if only you had spend a few dollars more.   

If you have any questions about your insurance policy, it's important to speak with an experienced personal injury attorney. Send me a copy of your declaration page from your insurance company and I will get back to you at no charge. Don't hesitate to contact our office in regards to your matter today.

You have probably seen several different ads on television recently by auto insurance companies who are trying to convince the public that their insurance is the cheapest.  There is nothing wrong with shopping around, but make sure that when you do shop that you are receiving quotes on the same insurance coverage from each company.

The first thing you should do is sit down and write out what auto insurance coverage you need to have to protect your interests.  You should have a minimum of $100,000.00 limits for liability insurance and preferably $250,000.00 limits for liability insurance.  Liability insurance protects you if you are in a motor vehicle accident where it is your fault and the other party or parties sue you for personal injuries.  If the personal injuries are severe with high medical bills and permanent injuries, the value of the case may easily reach $250,000.00.  If the value of the case exceeds the coverage that you have, then you may be subject to personal liability where you would have to pay the additional money out of your own pocket.  That is why it is so important to carry high limits for liability insurance to protect your own interests.  The good news is that increasing your liability insurance is very inexpensive. 

The second most import item to consider when shopping for insurance rates is the amount of protection that you would have if a motorist causes personal injury to you or the occupants of your car, where that motorist has no insurance or  inadequate insurance.  Again, the minimum amount you should carry is $100,000.00 for uninsured/underinsured coverage, but preferably $250,000.00.  This may be the most important coverage you can buy.

If you have any questions contact a skilled lawyer at McGuire Law PLC today.