Auto Insurance Claims/insurance policy

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Expert: - 9/26/2009


Question
i was rear ended and as a result my car caught on fire,i was hospitalized for 3 months with multiple third degree burns and my leg was ripped open,my medical bills came to one million dollars but the rear ender's insurance policy is only for one million dollars. about how much over the policy can i possibly recieve for pain and suffering,doctors and lawyers fees, and properties lost inside the car?

Answer
I'm very sorry for your loss.  I'm sure it has been a very difficult experience.

Unfortunately the policy will not pay more than its limit.  If you have an Underinsured Motorist policy with a limit in excess of $1 million, it will cover the items you mentioned in excess of the amount you receive from the rear-ender's insurance.  But this is a rare policy - most people do not have it.

You could sue the rear-ender, and try to take his/her personal assets.  I think you should seek advice from an attorney.  I wish you the best.

Auto Insurance Claims

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Claims Guy

Expertise

I am currently an Auto Claims Manager for a large insurance company. I have 18 years experience in the industry, having worked as a Claims Adjuster, Injury Settlement Negotiator, Claims Manager, SIU/Fraud Investigator, and Compliance Officer......I can answer questions related to any aspect of Automobile insurance claims and coverages. I can provide an inside look at how insurers operate. I always treat my customers fairly and want to help make sure you are treated fairly. However, please keep in mind that being treated fairly according to the law does not guarantee that you will get what you want. I can also answer some questions regarding Homeowner's and other types of insurance claims. I have handled all types of auto insurance claims and coverages. I am NOT an automotive repair expert but can give advice re how insurers handle complex repair issues. Please keep in mind that every state has its own set of laws pertaining to rules of the road, liability, and insurance. No one is an expert on every state. I am most familiar with laws in Maryland, DC, West Virginia, and Virginia, but will attempt to answer questions for other states. I am not an attorney an cannot provide legal advice. My advice will be my opinion based on my experience.

Experience

I am currently an Auto Claims Manager for a large insurance company. I have 18 years experience in the industry, having worked as a Claims Adjuster, Injury Settlement Negotiator, Claims Manager, SIU/Fraud Investigator, and Compliance Officer. I am not an attorney an cannot provide legal advice. My advice will be my opinion based on my experience.

Organizations
CPCU Society. Adjusters license in multiple states. International Association of Specal Investigators

Education/Credentials
I have a B.S. in Finance and have completed the AIC and CPCU designations.

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