Posts Tagged ‘insurance’

Toyota’s Deadly Secrets?

Friday, February 12th, 2010

MSN Money has an informative article on the recent spate of recalls by Toyota Motor Company, including regulator’s doubts of Toyota’s commitment to addressing safety defects.  According to MSN:

On Jan. 19, in a closed-door meeting in Washington, D.C., two top executives from Toyota Motor gave American regulators surprising news.

Evidence had been mounting for years that Toyota cars could speed up suddenly, a factor suspected in crashes causing more than a dozen deaths. Toyota had blamed the problem on floor mats pinning the gas pedal. Now, the two Toyota men revealed they knew of a problem in its gas pedals.

The article goes on to chronicle the tension between Toyota and federal regulators governed with overseeing the safety of cars.  You can read the entire article here.

CNBC also reported on Toyota’s problems in a video titled “More Trouble for Toyota”.  Click to play.

Kentucky Accident Information is Now Available on Your iPhone.

Friday, February 12th, 2010
Access Accident Information Directly from Your iPhone.

Access Accident Information Directly from Your iPhone.

You can now directly access Kentucky Accident Information directly from your iPhone or iPod Touch.  Simply type “kyaccidentinfo.com” into your mobile phone web browser.  A new easy to use mobile version of Kentucky Accident Information will appear.  Access information regarding your car, truck, or motorcycle accident, post comments or questions, or contact The Brutscher Law Office about your accident from your mobile phone.

Don’t Loan A Car–Not Even To Tiger.

Monday, December 7th, 2009
Should You Loan Your Car?

Should You Loan Your Car?

MSN Money has a great article on the consequences of loaning a car to someone who is involved in an accident. Although the article takes a tongue and cheek look at the accident involving Tiger Woods, it provides helpful insight into what you can expect if you loan your car, and it is involved in an accident.

Perhaps most insightful is what happens if you loan your car to an uninsured driver.  If the uninsured driver who borrows your car causes the accident, your insurance will be 100% responsible for covering damages, including any injuries that occur.  If your uninsured friend is not responsible for the accident, but is injured, the other person’s insurance company will usually pay.  But what happens if the other driver is uninsured or carries too little insurance?

If you have uninsured (UM) or underinsured (UIM) motorist coverage on your car, your insurance company will pay for your friend’s bodily injury.  In these cases, your friend is treated as an insured under the policy, just as you would be.  He would be entitled to the same benefits as you.

What happens if you don’t carry insurance?  If you loan your car to someone who doesn’t have insurance, you have created a worst case scenario.  Not only are you violating Kentucky law, you’re setting yourself up to be personally responsible and criminally liable for the damages caused by your uninsured friend, including repayment of some benefits, like PIP, that do not depend on fault.

If you must loan your car to someone, at least understand the consequences if your car is later involved in an accident.  Make sure that you carry sufficient insurance to protect you and your friend.  Under no circumstance should you drive or allow someone else to drive your car without insurance.

Crash Test: ‘59 Chevy vs. ‘09 Chevy. Who Wins?

Wednesday, December 2nd, 2009

Statistics Reveal Men Are Worse Drivers Than Women.

Wednesday, December 2nd, 2009
Men Worse Drivers Than Women?

Men Worse Drivers Than Women?

MSN Money posted an interesting article on the topic of which gender made for the worse driver.  According to government and insurance industry statistics men are more likely than women to break traffic laws, drive under the influence, and be involved in accidents, including fatal ones.  Unfortunately, it’s not all good news for women drivers.  One statistic in which they led men was the percentage of women who received a DUI.  While men typically had more DUIs than women, the percentage of women receiving DUIs was actually increasing, while the percentage of men receiving them actually declined.

While these general assumptions might determine which gender was the worst drivers, they didn’t necessarily transfer into lower insurance premiums for women.  Those were based on more specific factors, including an individual’s driving record and the insurance company.

You can read the entire article here.

Do I Have A Claim If I Was Injured By A Driver Without Insurance?

Friday, October 30th, 2009
money for car insurance

Does Your Car Insurance Protect You?

The Brutscher Law Office often receives questions regarding the ability to maintain a claim for injuries received in a car accident when the offending driver does not have insurance.  Often, the person will assume that since the other driver didn’t have insurance, they do not have a claim.  They are later surprised to discover that they not only have a claim, but that they may have a source of insurance recovery.

Uninsured Motorist Coverage (UM) is coverage that is provided by your insurance company in the event you are injured by a motorist driving without insurance.  You pay a premium for this coverage to your own insurance company.  If you are hurt by an uninsured driver, your own insurance company will step into the shoes of the other driver’s insurance and provide a source for your recovery.

Kentucky law requires that insurance companies offer this type of coverage, which is mandatory.  However, be aware of agents offering to reduce your premiums or lower your rates at the expense of UM coverage.  In order to reject this mandatory coverage, Kentucky law requires that you execute a rejection in writing, evidencing your intent to do so.  Many people mistakenly reject this coverage, thinking that the money they save in premiums is worth it.  Only after they are struck by a motorist without insurance do they realize they have made a mistake.

The chance of being struck by an offending driver who lacks insurance is far greater than any premiums you pay for the coverage.  It’s a sure bet that someone is driving on the roads today without insurance.  During economic  downturns the chances only increase.  Someone who is reckless enough to drive without insurance is reckless enough to cause an accident.  Don’t be a victim of someone’s selfish behavior.  Beware of agents selling you car insurance without UM coverage.  Make sure your policy has UM coverage.

Smaller Cars Linked to Larger Insurance Rates?

Friday, July 17th, 2009
Smaller Car Equals Larger Insurance Premiums

Smaller Cars Equal Larger Car Insurance Premiums.

MSN Money has a nice article on smaller cars leading to larger insurance premiums.  You can read the entire article here.   While smaller cars lead to better fuel savings, which is a big deal right now, they most likely will lead to larger insurance premiums as well.  The Honda Civic and Toyota Prius are the most expensive cars to insure.  The reason might surprise you.

According to insurance companies smaller cars tend to be in more accidents and suffer more collision losses.  Smaller cars tend to be inexpensive and also tend to be driven by younger more at risk drivers.  If you buy a particular model that suffers large losses, you will pay for other driver’s mistakes.  For instance, the Civic is rated at “worse than average” for personal injury losses and medical payments.  The Civic Coupe is even worse.  It is “worse than average” for personal injury and “substantially worse than average” for collision, personal injury protection, and medical payments.

Unfortunately, this could have a terrible affect on the types and amounts of insurance coverage you buy.  Many drivers might be tempted to reduce their coverage or eliminate it all together just to afford the insurance on a new, smaller car.  This could be disastrous if you are involved in an car accident.  Saving a little money a month in premiums is simply not worth the overall cost you could suffer if you are underinsured, or worse uninsured, with particular coverage.

Be sure to consider the affect a new car purchase may have on your insurance rates before you buy.  Perhaps, it’s good to also remember that bigger may just actually be better.

Does Your Kentucky Car, Truck, or Motorcycle Accident Attorney Know Insurance Law?

Monday, June 15th, 2009
Does Your Kentucky Accident Attorney Know Insurance Law?

Does Your Kentucky Accident Attorney Know Insurance Law?

You see many advertisements for car, truck, or motorcycle accident attorneys in Kentucky promising to, “get you the compensation you deserve.”  However, nothing is mentioned about the insurance companies or policies from where this money comes.  Lawyers and most sophisticated clients know that the money will come from the insurance company for the party at fault for the accident if he or she has one and from the injured party’s insurance company if he or she doesn’t.  But simply because an accident attorney knows where to get the money doesn’t mean they know how.

Many accident attorneys will settle your claim with the insurance company without knowing what your case is worth.  They may demand entirely too much or even worse, seek to settle your case for too little.  Some might not even be able to describe to their client’s why they think you should settle for a particular amount offered by the insurance company.  If the insurance company refuses to pay due to some policy exclusion or coverage defense, then that attorney may be unsure how to fight for you to make sure that the insurance company is being fair.

Make sure that your car, truck, or motorcycle accident attorney knows insurance law and understands insurance policies, their specific coverages, and exclusions to coverage.  Retain an experienced car, truck or motorcycle accident attorney with a proven record of handling injury claims and one with knowledge of insurance companies and their practices and procedures.  Don’t get less or worse nothing, because your Kentucky accident attorney doesn’t know insurance law.

Recover Lost Wages Even If You’re Unemployed At The Time Of An Auto, Car, or Truck Accident.

Monday, June 8th, 2009
Recover Your Lost Wages

Recover Your Lost Wages

Kentucky law provides for the payment of PIP benefits when you’ve been injured in an auto, car or truck accident.  This includes payment for lost wages up to a statutory amount.  Proof of lost wages is submitted to your insurance carrier, who then pays you your lost wages.

However, there is no condition placed on the time these lost wages occur.  So, while you might be unemployed at the time of the accident, you might still be entitled to lost wages if you’re prevented from working in the future because of your injuries.

In today’s economy it is likely that someone will be laid off or unemployed at the time they suffer injuries in a car accident.  However, if they later accept employment or if they are hired back to their old job, they can recover lost wages if they are prevented from working because of their injuries.  It makes no difference that they were laid off or unemployed at the time of the accident.

Make sure if you’re injured in an accident and suffer lost wages that you submit those lost wages to your insurance company for payment under the applicable PIP coverage.  This includes lost wages inccured at a time or date after the accident.

Are You Protected By Minimum Car Insurance Limits?

Thursday, June 4th, 2009
Are You Protected By Minimum Coverage?

Are You Protected By Minimum Coverage?

You often hear commercials about buying car insurance.  Many times these commercials offer to “get you insured for the minimum” or something similar.  What exactly is meant by “minimum” car insurance?  Will minimum car insurance limits protect you?

Kentucky law requires that all registered vehicles on the roadway carry “minimum coverage.”  In Kentucky, that coverage is $25,000.00.  This insurance provides protection for the  person causing an accident, while at the same time providing a recovery for those injured by a car accident.  If you’re at fault, minimum coverage will pay for the damage you have done.  If you’re the injured person, minimum coverage will compensate you for your injuries.

However, minimum coverage means exactly that, minimum.  It provides the least amount available.  This may not be enough.  If the person’s medical bills, lost wages, or pain and suffering are more than the $25,000.00, then cars carrying minimum insurance are “underinsured”.  If your car is underinsured your personal assets, like your home, personal property, or bank accounts might not be protected.  That’s because your insurance company is only required to pay as much as you’ve purchased.  You are responsible for any damages over that amount.

So, while you may be “legal for less” according to Kentucky law, you might not carry enough insurance to protect yourself.  What can you do?  You can purchase insurance in amounts above the minimum.  Most insurance companies provide coverages of $50,000.00 or $100,000.00 per person, which offer far more protection for more money.

If your purpose is to be legal and you don’t have any assets , then the minimum coverage may be enough.  However, to protect yourself against “underinsured” driver’s who purchase minimum coverage, purchase your own “underinsured” motorists coverage from your own insurance company.