i would like to know what law allows car insurance companies to treat injured person badly, as in not offering a settlement that would cover all of the medical benefits and etc.
i would like to know what law allows car insurance companies to treat injured person badly, as in not offering a settlement that would cover all of the medical benefits and etc.
It is called "coverage".
When you get a policy, you sign up for a specific amount of liability the insurance company will cover... this is called coverage.
When that amount is reached, the insurance company's responsibility is satisfied.
If you haven't been fully covered but the amounts paid are under the maximum coverage amount, then it has to do with what the insurance company has deemed proper expenses for the injuries sustained.
I recommend a lawyer if the covered amount is not being paid out for actually realized damages below the maximum coverage amount.
thank you for your reply,
But insurance companies want to settle for amounts even below the coverage amount and also below what they know the medical bills are.
It doesn't seem like a fair system to me!
That is very unfortunate.
I live in NY State, which has the highest auto insurance rates in the country. One problem we had in this state is insurance fraud, where people stage phoney accidents, or if there were a minor accident. it's made into a huge one with the cooperation of adjusters, lawyers and doctors.
My wife had an accident once where some guy tapped her bumper, resulting in a slight dent. She hardly felt the tap on the car. Then I spoke to someone where I worked, who volunteered to get hold of some people he knew, and wanted my wife to go down to see one of their doctors, and from what I'm told, if she'll work with them to fake the injury, there's a good hundred thousand for her, and a nice payment for a few others.
Of course, I told the guy to take a hike. On the other hand, there are many people out there behind on their bills who can use the money.
There's so much of it going on that it's hard to know a real claim from a fake one, and I'm sure they'll have to short change some needy people like yourself in the process. On the other hand, they'll have to double the rates to take care of needy people like you, and the fraudsters, and what will happen is just too many people can't afford insurance anymore, and would simply drop out. Right now, my monthly insurance bill is higher than what my mortgage payments were when I got married.
Unfortunately, that is the system we have right now.
Then don't settle... Take it full course; sue them if need be. It might take some time but you'll get what you're due.
Insurance companies are in the business of making money. Not handing out the full amount of each claim as it is submitted. Most are public companies and that is part of the fiduciary duty that they owe to their shareholders.