Wednesday, January 25, 2012

Are YOU Properly Covered?

Are YOU Properly Covered? by Rob Kent

Rob Kent has grown up in the insurance industry his grandfather and father both owned their own insurance company back in Chicago, he has worked fro State Farm for 14 years as an adjuster and is currently on hi 15th year with out office at the R. Rex Parris Law Firm.

What would you do if you were injured in an accident, your fault or not, incurred thousands, even tens of thousands or more in medical bills, could not work and even lost your ability work?  Every one of us is at risk for this catastrophic event.  Is there anything we can do to minimize these risks? The answer is ABSOLUTELY. Health, life and disability insurance will handle this.  There are two coverages most auto insurance companies offer that will help you if your injuries are caused by a car accident (even if you are not in your car or even in a car), these coverages are medical payment and Uninsured motorist.  These two coverages are inexpensive and covers you and your family, you get more bang for the buck than any coverage you can buy anywhere.  I am unaware of any insurance that protects more for so little than Med pay and UM.
Insurance sales people do not understand the incredible benefit Med pay and Um/UIM have for their clients, in fact, they treat these coverages with little importance.  I have seen hundreds of insurance policies from every major and most small auto carriers and it is most common to discover the insured carries $100/300k liability insurance and only 15/30 or 30/60 UM coverage.  I ask the client why are they protecting strangers for more than they protect themselves and their family?  No one has given me a good answer to this day.  I have a claim right now where the insured, which is fairly poor, carried a $1.1M liability policy and a 30/60 uninsured policy and no med pay. How could this ever happen?   I have even seen this coverage on insurance agents and brokers personal policies and they don’t know what to say.  What makes this worse is it would be cheaper to inured yourself and family for less than it would for a stranger.  Why is this problem is predominant?
Source: Google

Med pay covers any resident relative of your household if they are injured in, on, exiting or entering any “private pass vehicle”. Sometimes there does not even need to be another vehicle involved I have seen claims for med pay paid out in which only one car was involved. Fault does not matter. Med pay also covers anyone injured in your car. Your family is covered even when they are pedestrians if injured by another car; this includes skateboards and bicycles.

Uninsured is also Underinsured Motorist coverage.  This covers all resident relatives medical bills, loss of earnings, loss of earning capacity, disabilities, pain and suffering, death, disfigurement etc.  This coverage is meant to take the place of the damages you are owed by another person who injures you with their vehicle who has no or not enough insurance.  (and trust me there is a lot of people out there with not enough insurance to cover your cost)

Med pay and UM/UIM coverages are ridiculously inexpensive for what they cover.  The more you buy the cheaper per thousand they become.  For example: my $5,000 med pay insurance premium was $32 every 6 months.  I raised it to $100,000 the price raised to $67 every 6 months.  In essence 20x the coverage for twice the price.  The same goes for UM/UIM coverage.

So if you need some ideas of what type of coverage YOU need feel free to call us. Having the right/proper coverage helps us help YOU if you are ever in a serious accident, there is a lot we can do to help you.  If you do not have the resources, there is very little we can do to help you.  Get the proper coverage in place BEFORE it’s to late.

We all should know we live in a world of risk and there are things we can do that minimize the financial impact a disaster can cause us.  It is our goal to not only help you survive but to thrive because an injury claim.  We have over 100 collective years of experience in this area of insurance and law in our law firm.  We have very successful trial attorneys, research attorneys, and prior adjusters with insurance companies, even a prior insurance sales person.  All this experience allows us to maximize the benefits you deserve.  We have had many claims over the years where a person was denied coverage from their own insurance company and had their claim denied by the other insurance company than when we got involved our clients were paid.

Source: Google
We have a saying:  if you carry good insurance, the best thing that could happen to you is you will never need the insurance, the worst thing that could happen is you need it and have it. So remember if you ever find yourself in a situation that you need the services of an experienced auto accident attorney give us a call. Or visit our site.

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