Geoffrey E. Schorr
While reading a blog page for Texas Trial Lawyers, I recently learned about a disturbing trend regarding settlements for personal injury claims. With millions of Americans feeling the economic strain from the global recession that is occurring, many insurance companies are taking advantage by making quick settlement offers to injured victims that, in many instances, are extremely small, and don’t fully compensate victims for their losses. People who are hurting financially are more tempted to accept these small settlement offers, without hiring an attorney. Many insurance companies realize this reality and quickly put nominal offers of settlement on the table, and, unfortunately, many of these small offers are being accepted.
The retention of an experienced personal injury lawyer does not increase the value of every personal injury claim. However, some suggest that non-represented claimants typically settle claims for one-third of what they would have received had they been represented by an experienced personal injury lawyer. In an extreme example I read an article where an injured claimant was offered less than $4,000.00 to settle an injury claim, and, after retaining an attorney, the claim was settled for approximately $200,000.00. Obviously lawyers can’t make this type of difference in all cases, however, experienced personal injury lawyers understand how to value cases, and understand the types of damages that are available to claimants.
In many cases, an insurance company will not take a claimant’s claims seriously without an experienced personal injury attorney representing the claimant. Without such representation, many insurance companies see very little exposure, if any. The problem is that without an experienced personal injury lawyer, the claimant’s claims may not be adequately preserved and/or prosecuted, and insurance companies understand this problem.
Therefore, if you or a loved one has been injured and an insurance company adjuster is attempting to offer a quick settlement, take time to contact an experienced personal injury attorney in your area. It is important that the insurance company adjuster understands that you, and your attorney, take your claim seriously. Retaining an attorney, in most instances, will likely increase the value of a claim. If it doesn’t appear that an attorney will add value to a claim, most personal injury attorneys, like me, will advise potential new clients that they would be better off settling the case without an attorney.
If you or a loved one have been injured, Contact Schorr Law Firm for a free consultation by calling toll free at 1-866-456-0100 or Visit Schorr Law’s Website
Posted in
Automobile Accident,
Insurance,
Personal Injury
Tags:
Injury Settlement
Geoffrey E. Schorr
January is a good month to review and adjust automobile insurance policies. Many drivers don’t understand the types of insurance available to cover car accidents. Moreover, rarely do drivers think about their automobile insurance until after a car accident occurs. However, making prudent decisions about automobile insurance prior to a car accident will alleviate a lot of stress and frustration in the event of a car accident.
The most basic automobile insurance in Texas is known as minimal limits liability insurance. In 2008, Texas raised the minimal limits for liability insurance from $20,000 to $25,000. Therefore, a minimal automobile insurance policy in Texas provides $25,000 in liability coverage per person, up to $50,000 maximum per car accident (25000/50000). If a driver is at fault for a car accident in Texas and has minimal liability insurance, there may be insufficient insurance coverage available for the at-fault driver, especially in the event of a significant car accident causing severe damage and/or involving numerous claimants. Without adequate coverage, Texas drivers may be exposing their assets to potential liability. If you have a minimal limits liability insurance policy, you should contact your insurance agent to find out how much it would cost to increase your limits. Most people are pleasantly surprised at how little the additional coverage costs.
Texas drivers have the option of adding Personal Injury Protection (PIP) to their automobile insurance policies. In the event of a car accident, PIP provides protection to an insured by covering up to 100% of incurred medical bills, and up to 80% of lost wages. Depending on the insurance company, PIP coverage is generally available in amounts between $2,500 to $10,000. PIP coverage is a great way for an insured to protect against short-term financial losses immediatley following a car accident. Again, you should contact your insurance agent to discuss this type of coverage. As with increasing liability limits, the additional premium PIP coverage is generally nominal.
Another option for Texas insureds is underinsured/uninsured motorist coverage (UM/UIM). UM/UIM coverage applies when an insured is involved in a car accident with another, at-fault driver. If the other at-fault driver has no insurance, or has insufficient insurance, the insured can file a claim for UM/UIM insurance benefits under his or her automobile insurance policy. We highly recommend to all of our cleints that they add UM/UIM benefits to their automobile insurance policies. Insurance premiums are only slightly increased after adding this type of coverage. If you do not already have UM/UIM coverage, I stongly recommend you contact your insurance agent and add it to your policy.
Another consideration for Texas drivers is umbrella coverage. Umbrella coverage applies when all available policies of insurance have been exhausted. For example, if a Texas driver maintains liability insurance limits of $100,000, and is involved in a serious car accident, perhaps a fatality accident, and is determined to be at fault, the $100,000 policy limits will likely be insufficient to cover all damages. Once the $100,000 in benefits have been paid, the umbrella policy would apply, up to the umbrella policy limits. Adding $1,000,000 of umbrella insurance coverage generally costs around $300 to $400 per year. This is a fairly small price to pay for a significant amount of insurance.
Automobile insurance is not only to protect the insured, it also protects those who the insured may unintentionally harm.
If you or a loved one have been injured in a car accident, Contact Schorr Law Firm toll free at 1-866-456-0100 or Visit Schorr Law’s Website
Posted in
Automobile Accident,
Insurance
Tags:
Accident Insurance,
Policy Limits
Geoffrey E. Schorr
It is important to remember during the holidays that many drivers on our roadways should not be driving vehicles because of alcohol consumption. Many people who attend Christmas parties, or sporting events, or New Year’s Eve festivities and dinners with friends, consume alcoholic beverages and then drive home. According to the Centers for Disease Control (CDC), every day 36 people die, and more than 700 people are injured, in the United States because of alcohol related automobile accidents. The CDC estimates that the annual cost for alcohol related accidents exceeds $51 billion dollars. Those who are most at risk of death or injury because of alcohol related traffic accidents are young males, motorcyclists and people with a history of criminal charges for driving under the influence of alcohol.
To avoid drunk drivers, try not to travel on the roads past 10:00 P.M. Also, avoid driving in areas where there are numerous bars and night clubs. If you witness a vehicle that is swerving or driving erratically, keep your distance, and, when it is safe to do so, call 911 and make a report.
If you or a loved one have been the victim of a drunk driving accident, please Contact Schorr Law Firm toll free at 1-866-456-0100 or Visit Schorr Law’s Website
Posted in
Automobile Accident
Tags:
Alcohol Related Accident,
Drunk Driving
