Re: liablity in auto accident It passed

More | Report Post

Mudge: House passes Bankruptcy Bill. The story is on,
http://www.msnbc.msn.com/id/7494698/
Whoa to the middle class who always takes it in the ...

On 4/15/05, v wrote:
> My suggestion to you is read and
> re-read your policy coverage. You
> have to have liabilty coverage in
> states that have mandatory car
> ins.. I dont understand the
> uninsured fund & underinsured. If
> you have home ins. i would look
> over that policy as well. You
> may ... i say may be coverd for
> things you are not aware of. If
> your mortgaged, then you should
> have at least fire coverage on
> your home. Some home ins. have
> those extra riders hidden somwhere
> in there policys. It wouldn't hurt
> to call them & ask. Good luck!
>
>
> On 4/14/05, Curmudgeon wrote:
>> You need to retain an attorney
> ASAP. The insurance company
>> has given you fair warning that
> the amount of the claim may
>> reach your personal assets.
>>
>> The insurance company has an
> obligation to attempt to settle
>> the claim within the policy
> limits, but that is not always
>> possible. Your personal
> attorney can be working with the
>> insurance adjuster/attorney to
> attempt to settle the case on
>> terms you can live with.
>>
>> Depending on the state you live
> in, some or all of the
>> equity you have in your house
> may be protected, but your and
>> your spouse's and your son's
> incomes could be subject to
>> garnishment for a long time to
> come.
>>
>> In the end, you may be looking
> at bankruptcy. And because
>> of the pending new bankruptcy
> law, that may not be as
>> helpful as it once was. Thats
> another reason that you
>> should get an attorney soon to
> help you sort through the
>> situation. Good luck to you.
>>
>> On 4/14/05, paniced parent
> wrote:
>>> My son was in an accident where
> he was sited for running a
>>> red light. He was driving a car
> that is in our name he is
>>> insured under our ins. as the
> primary driver of that
>>> vehicle. We only had
> liabiality and uninsured and
>>> underinsured on the vehicle.
> Our ins. company explained
>>> the claim will probably exceed
> the limits of the policy
>>> because one of the occupants
> are still hospitalized. We
>>> donot have any other umberella
> policy's. We have about
>>> $50K equity in our personal
> home and no other assets. What
>>> other finacial resposibility
> might our family face toward
>>> the damages for this claim.
>