I play quite a bit of chess. With the app on my phone, it's a great way to unwind and connect with people all over the world. The problem is that I'm not always in the best state of mind when I log on. Frustration and anger can get in the way of strategy.
I've found that, in both chess and negotiation, anger is the fastest way to lose. When I play chess angry, I am guaranteed to make mistakes. It's not an emotional game. It's about reading the board and predicting action and reaction.
When it comes to car insurance, most people are concerned with two things: coverage and cost. A bird's-eye summary of both can be found on the declarations page, typically within the first few pages of the policy documents. It is what follows that can be dangerous - fifty or so pages of detailed conditions that must be met to actually collect the benefits you expect. Below is one example.
I was recently contacted about a situation where a man was rear-ended by someone who then fled the scene. The victim carried uninsured motorist coverage (UM) on his policy, intended to protect him in that exact scenario. However, unknown to him was a brief provision requiring that the incident be reported to police within 24 hours, and to the insurer within 30 days. Failure to comply with either requirement would void the coverage.
This led to the insurer sending a letter stating: "It is questionable whether there has been compliance with the provision of the policy concerning reporting of a hit-and-run accident..."
Fortunately, we resolved the issue for our client. Others are not so lucky, most often because they don't know what questions to ask. At Heaton & Associates, we know both the questions and the answers, empowering you as a consumer, and ensuring that the law works for you rather than against you. Call Today.
After a crash, I often hear people say something along the lines of "well, I should be ok because I have 'full coverage.'" Unfortunately, I've learned that most people have no idea what full coverage actually means.
All it means is that you have both collision and comprehensive coverages on your auto policy. So it will cover your car in the event that is sustains damage from a crash, vandalism, theft, even falling objects. But the important thing to remember is that it covers damaged property only.
What it will not cover is a much longer list. Full coverage will not pay medical bills for you or for anyone else. It will not compensate you or anyone else for pain, suffering, or inconvenience in connection with a crash. It will not reimburse you for lost wages if you have to take time off from work. In short, it does not mean that you have adequate coverages in the event of a crash.
It is really just a saleman's term to inspire confidence that a policy that is being sold will mean an insured's needs. That's not to say that people don't need full coverage. Most people certainly do, but most people need a lot more than that.
So if you're listening to this and wondering what coverages you have, get in touch anytime with a copy of your declarations page that will itemize your current coverages, and we can have a chat about what may need to be supplemented to ensure that you're appropriately protected in the event of a crash.
In the last few months, I have encountered several people who regretted settling claims with insurance companies on their own shortly after an injury. They came to me only after realizing that their injuries and/or medical bills were worse than expected.
Put simply, there is no way for an insurer to determine the appropriate value of a claim within only weeks of an injury. Adjusters' efforts to settle claims so quickly are self-serving and predatory. Unfortunately, the most vulnerable (hurt, in a financial bind, risk losing their jobs, etc.) are also the most commonly victimized.
Fortunately, Nevada has made some headway in offering much needed protections. Specifically, you can void a settlement release within sixty (60) days if (1) you originally signed the release within thirty (30) days of the event that caused your injury; and (2) you signed the release without the assistance of an attorney.
There is specific criteria for how to void the release, and any money paid by the insurance company must be returned. Still, this is a tremendous "2nd chance" given to many in need.
After an injury, whether you have settled or not, we are happy to assess your situation with a free case review. Even if you decide to move forward on your own, you can do so better educated about your claim and the options available to you. Call today!