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How Much Kentucky Car Insurance Do You Need to Have? Did You Say Full Coverage? What Does No-Fault Really Mean? Car Accidents and PIP Benefits How Can I Make Sure ALL My Auto Accident Medical Bills Are Paid?I know I sound like a broken record when I say raise your insurance benefits. Protect yourself. This is boring stuff, but it can protect your family if you are in a catastrophic car accident in Kentucky. You need to take matters into your own hands. I listened to an interview of Ontario attorney, Brenda Hollingsworth, that indicates our friends north of the border are going to have to take this attitude also. What is the Canadian government proposing? Will the new law be good or bad for Canadian car accident victims? What can Kentucky auto accident victims learn from Brenda? What are PIP benefits? Is it time to increase your auto insurance coverage? Check out "A Lesson Can Be Learned From Ontario's Cutting Of Medical Benefits To Accident Victims" at www.TheKentuckyAccidentAttorney.com
There are a lot of opinions about personal injury cases, some are correct but many are incorrect. This is due in part to the misinformation that has been put out by the insurance industry. It is also due to the lack of information that is available to the general public on this subject. One of these myths is “The Insurance Company For The Car That Hit Me Has To Pay My Medical Bills As I Send The Bills To Them”.
This is not true, although the at-fault insurance company will eventually have to pay the majority of these medical bills, they do not have to pay them immediately. You actually submit your medical bills to your own insurance company and they will pay the bills. I know you are thinking, “I didn’t do anything wrong. Why should my insurance company have to pay anything?”
This would seem logical; however, the Kentucky legislature enacted a “No-Fault” Statute which requires your insurance company to pay your medical bills regardless of fault. When your case is settled or tried to a jury and closed your insurance company will be reimbursed by the at-fault insurance company for the medical bills they have paid that are related to the accident after the first $1,000.00. This is pursuant to the Kentucky No-Fault Statute or Personal Injury Protection laws.
Not carrying sufficient automobile insurance coverage can have devastating repercussions on you and your family if you are involved in a car accident, truck accident, motorcycle accident or bicycle accident. Should the accident not be your fault it is up to you to have coverage that will protect you and your family. If you are carrying the Kentucky minimum insurance coverage you are allowing the negligent driver that may cause the accident to handle that responsibility. In today’s’ tough economic times most people will not carry sufficient insurance coverage to financially protect YOUR family if you are seriously injured.
Last year I handled a case that illustrates what can happen in a situation where only the minimum liability limits are carried. A bus was rear-ended by a car. My client and eight others were injured in this accident. The driver of the car that hit the bus had the minimum insurance required in Kentucky. His liability coverage was $25,000.00/$50,000.00. This means that there was $50,000.00 to cover the nine injured people. That $50,000.00 had to be divided up among all of them. As a result many, including my client, did not get what they deserved and would otherwise have been entitled to in this case.
Once this $50,000.00 is divided up, each person may make a claim under their Underinsured Motorist Coverage. Unfortunately, my client did not own a car, so there was no Underinsured Motorist Coverage. Consequently, all that could be collected was a portion of the $50,000.00 for the pain and suffering.
We were able to get her medical bills paid through the Kentucky Assigned Claims Plan A school is only required to carry liability coverage so there was no Underinsured Motorist Coverage on the bus either.
Insurance companies, or their agents, sometimes push these low liability limits because they are trying to get you the cheapest rate possible. This also limits the insurance company’s exposure to liability in the event that you are in an automobile accident. When choosing your policy limits, you need to look at your particular circumstances before deciding whether or not the cheap insurance is your best bet. Like the old adage says, you get what you pay for. Do your homework and purchase the automobile insurance coverage that will financially protect your family. A good insurance agent will encourage this. It is smart to get several opinions and quotes before making your final decision.
I urge you to get the proper insurance coverage so that your family is protected if the negligence of another causes and accident and injures you. I sincerely hope this never happens to you, but make sure you have the protection you need. For more information on insurance go to my website and request a free copy of my book "What You Don't Know About Buying Car Insurance Can Hurt You".
Mike Schafer is a Louisville, Kentucky Attorney who practice concentrates in auotomobile, truck, motorcycle, bicycle and fatal accident cases. For additional information go to mikeschaferlaw.com
After many years of representing auto accident victims in Louisville, Jefferson County, Kentucky and the surrounding areas I have realized that so many of my clients are not only injured by the accident itself but injured financially as well. When one is not able to work it puts both an emotional and financial strain on the entire family. Often times the accident is the result of someone else‘s negligence or lack of responsiblitiy behind the wheelof their vehicle. Usually the person who caused the accident, as well as the victims, do not have adequate car insurance to cover all of the financial issues that arise after an injury accident. These can range from astronomical medical bills to the inability to work and provide support for your loved ones. So many of these issues can be avoided by asking your insurance agent the right questions. When you are purchasing car insurance ask your agent exactly what you are getting and what it means to you if you are in an accident. Listed below are four of the most important questions you should ask your car insurance agent.
By asking your insurance agent these questions you will be able to compare the cost of the additional coverage to the increase in your insurance premium. The increase in coverage is not related in a one to one ratio with the increase in premium. Many times you can increase your auto insurance coverage by ten times and your premium will only increase two times or less. Ask your agent for exact rates as they relate to you.
For more information visit my website www.mikeschaferlaw.com
Liability Coverage is one of the various automobile insurance coverages you can buy when purchasing auto insurance in Kentucky. This particular coverage is required of all drivers in Kentucky. It is the law. Liability Coverage is the part of the insurance policy that covers other people that are injured if you are the cause of an accident.
Liability Coverage pays for the pain and suffering that the injured person goes through while recovering from their injuries. It also pays for their pain and suffering in the future if they have permanent injuries. Liability insurance could also pay for loss of income and uncovered medical bills, that is the out of pocket expenses.
The minimum Liability Coverage you are required to carry on your car in Kentucky is $25,000/$50,000. This will pay a maximum of $25,000 per person for the pain and suffering described above and $50,000 per accident, if there are more than one person injured (not including yourself). If there are several persons injured in an automobile accident which was caused by you the $50,000 is all the insurance company would have to pay if you are carrying the minimum coverage.
Liability Coverage does not cover you personally if you are injured in a car accident. You will not personally receive any money from this coverage. You would need to look to other areas of your insurance policy for coverage. This is provided that the accident was not your fault.
When purchasing car insurance you may want to evaluate your assets and determine if you want to raise the limits of your Liability Coverage. Different companies have different guidelines on determining the premium for this coverage. Some of the limits I have seen are:
· $50,00/$100,000
· $100,000/$300,000
· $250,000/$500,000
· $500,000/$1,000,000
By doubling your insurance coverage your premium will not double. You may be surprised at how little it will cost you. Ask your insurance agent about raising your liability coverage limits.
Another option is to carry a single limit. The lowest amount you can purchase is the total of all minimum Liability Coverage. This is the $50,000 per accident and $10,000 for property damage making the lowest amount $60,000. By carrying a single limit the coverage can be paid out for the whole accident without being categorized.
Mike Schafer is an attorney in Louisville, KY who handles auto insurance cases. For additional information on Mike Schafer and on Kentucky car insurance go to www.mikeschaferlaw.com.
The American Association for Justice last week released a report with a list of the nation’s worst insurance companies for consumers. At the top of the list was Allstate. The list is for those insurance companies who refuse to pay just claims, employ hardball tactics against policyholders, reward executives with extravagant salaries, and raise premiums while hoarding excessive profits. The top five offenders were:
1. Allstate
2. Unum
3. AIG
4. State Farm
5. Coseco
The report was compiled over a six month period using information obtained from court documents, SEC and FBI records, state insurance department investigations and complaints, nationwide news accounts, and testimony of former insurance agents and adjusters. Allstate blames trial lawyers for making unreasonable demands, indicating that the tactics used are an effort to resist those demands.
People injured in car accidents have had a hard time reaching a reasonable setlement for what have been described as low impact soft tissue injuries or whiplash claims. Often these injuries do not show up on testing and it is only the injured party's word that is proof of the pain and injuy itself. Many insurance companies have succesfully targeted this type of claim with lower offers of settlement. Hardball tactics on these types of claims is hoped to force an injured person to take a low settlement offer. Often the only alternative for the injured inthis case is to file a lawsuit and take their case to trial.
Mike Schafer is a Louisville, KY attorney who handles accident case. For more information go to mikeschaferlaw.com
In Kentucky Collision Coverage is the part of your insurance policy that covers the property damage done to your car that has been involved in an automobile accident. There must be an actual collision (if there is damage that was not the result of a collision you would look to your comprehensive Coverage for repairs). Only your vehicle is covered by your Collision Coverage and no one elses. Damages to any other vehicle would be covered by your Liability Coverage.
When you are meeting with your car insurance agent and discussing your insurance policy you will likely be looking for ways to save money. Every little bit helps these days. One way your insurance agent can save you money on your car insurance premium is to offer you a deductible. The deductible is a set amount you agree to pay for the repairs on your automobile if your car is damaged in a collision before your insurance company would begin paying. Deductibles can range from $500.00 up to $2,500.00. The higher you go on your deductible the lower your premium will be. When deciding on a deductible you need to consider your options and decide if the higher deductible is worth the savings on your premium.
Another thing to consider when deciding on Collision Coverage is the value of the car. If you are like some people you may have a junk car for your less glamorous tasks, taking the dogs to the vet and transporting compost for the garden. These vehicles typically would be cheaper to replace than to repair if involved in a collision therefore Collision Coverage would not be necessary.
It is my belief that you shouldn't be afraid to ask your insurance agent questions. Ask your agent what your options are with collision deductibles and make the choice that makes sense for you. It is my belief that you should not be afraid to ask your insurance agent questions.
For more information on questions to ask your car insurance agent , additional information on purchasing car insurance and on Louisville, Jefferson County attorney Mike Schafer go to www.mikeschaferlaw.com
Comprehensive Insurance coverage is a part of an automobile insurance policy which will cover damages to your automobile that result from something other than a wreck or a collision. These could include damage due to weather (a hail storm for instance), a tree falling down on your car, damages that may incur if your car is stolen and other non-collision instances.
Because of the hazzards that present themselves when driving with a damaged windshield Comprehensive Coverage will pay for the repairs to your windshield without a deductible. In Kentucky policies this usually mandatory. Many of the glass repair businesses will come to you and repair the windshield without you having to drive to them.
Some of the other damages listed previously that are covered by Comprehensive Coverage may have a deductible. Deductibles can be a good addition to your policy. You must weight he premium savings against the additional cost if you make a claim and have to pay that deductible. Again, this will be something for you to discuss with your agent to see if the savings on your premium will out-weigh the deductible.
You are able to purchase Comprehensive Coverage in your policy without having to buy Collision Coverage, the coverage that covers only your automobile. You cannot, however, get Collision Coverage without having Comprehensive Coverage. When looking into getting Comprehensive Coverage without Collision Coverage you may want to ask your car insurance agent if this is a good deal for you. This can be well worth the money you spend on premiums even if your car is an older model car.
Another point to ask your agent about is whether your premium rate will increase if a claim is made under your Comprehensive Coverage. Sometimes it may be cheaper for you to pay for the repairs yourself instead of risking the possibility of a rate increase by making a claim. For more information on questions to ask your agent go to www.mikeschaferlaw.com.
As an attorney in Louisville, KY I have handled many cases in which clauses in insurance policies have come into question. It is always a good idea to ask your agent direct questions about your policies. For more information please visit my website, www.mikeschaferlaw.com
One of the many confusing parts of buying car insurance is the terminology. Some terms appear to be self explanatory but actually mean something entirely different. The terms No-Fault Insurance, Basic Reparations Benefits and Personal Injury Protection (PIP) are different terms for essentially the same type of coverage.
No-Fault Insurance is one of the confusing terms. No-Fault means that your insurance company will pay your medical bills and lost wages when you are in an accident, even if it is your fault The state of Kentucky is one of 12 states and Puerto Rico that have no-fault auto insurance laws. Three of these states, New Jersey, Pennsylvania and Kentucky have a "choice" no-fault law.. A person must fill out a No-Fault rejection form and file it with the Kentucky Transportation Cabinet. The reasoning behind the No-Fault Coverage is to allow the the person injured in an automobile accident the confidence in knowing their medical bills will be paid promptly in the event of an injury accident. It will also allow them to choose the physician treating them. A person will be more willing to get the medical help they need if they are assured their bills will be paid and they can go to a doctor of their choosing.
Basic Reparation Benefits will cover the carrier if their accident occurs anywhere in the United States, its territories or Canada. There are some exceptions to these benefits, for example they do not cover mopeds, farm or construction vehicles. Motorcycles will be covered but the benefits have to be purchased specifically for that motorcycle.
PIP benefits, also called Basic Reparation Benefits, have a standard amount of benefits to be paid in Kentucky. The amount of $10,000.00 will cover medical expenses, work loss, replacement service loss, survivors economic loss and survivors replacement loss. For the most part this amount is used to pay for medical bills and lost wages. If the bill exceeds the $10,000.00 amount the carrier will have to pay these bills. Fortunately a good health insurance plan will help at this point.
The lost wages part can get tricky. The insurance company will pay 80% of lost wages up to $200.00 a week. If a person makes more than $200.00 a week they should ask their agent for information on Added Reparation Benefits. Another portion of this PIP coverage is that the $10,000.00 is for each individual in your vehicle at the time of the accident. If one person’s bills are less than the allowed amount the remainder cannot be transferred to another passenger.
As with all insurance policies there are exclusions. When in doubt, however slight, a person needs to ask questions of their agent. Keep asking until there is no more doubt. For more information on Louisville, Ky. attorney Mike Schafer go to www.mikeschaferlaw.com.
When you are buying car insurance your insurance agent will throw a lot of information at you in a very short amount of time. You will be expected to digest this information and decide if what they are offering is the best avenue for you and your family. This is a hard position to be in so it is best to be prepared for the barrage of information that will be handed to you.
One of the offers your agent will probably make you will be in reference to a PIP deductible. A deductible is when you agree to pay a certain amount toward your medical bills and /or lost wages before your insurance takes over, usually this is $1,000.00. Insurance companies will also offer lower deductibles, $250.00 and $500.00. As your agent will tell you, having a deductible will lower your premium payment. If you decide on a $1,000.00 deductible, your premium will be around $20.00 less every six months. That $40.00 savings a year can cost you $1,000.00 out of your own pocket if you are in an accident.
What your agent will likely not tell you is how these deductibles are great deals for the insurance companies. This is because if you are in an accident and you have a $1,000.00 deductible you have to pay $1,000.00 before the insurance kicks in. Not to mention that you will also have to pay anything over $10,000.00. Few people realize that the At-Fault insurance companies reimburse your insurance company the entire amount that has been paid for medical bills and lost wages after the first $1,000.00.
There is what’s called an inter-company deductible which is when the At Fault company repays your insurance company for your lost wages and medical expenses less $1,000.00. This is standard. When you have a $1,000.00 deductible your insurance company doesn’t have to cover that inter-company deductible because you already have. This may explain why insurance agents push for deductibles under the pretense they are saving you money.
The best way to get the most coverage for you and your family is to be informed when you meet with your agent. There are some basic questions to ask your agent.
For more information on Louisville, Ky attorney go to www.mikeschaferlaw.com.
