What is Insurance?
Insurance is, “a contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the “insurer” or “underwriter;” the other, the “insured” or “assured;” the agreed consideration, the “premium;” the written contract, a “policy;” the events insured against, “risks” or “perils;” and the subject, right, or interest to be protected, the “insurable interest.” (Black’s Law Dictionary 946. 4th Ed. Rev. 1968)
An insurance policy is a contract in which an individual or entity (the policyholder) pays an insurance company (the insurer) in regular payments in exchange for financial protection over specific risks or losses. For example, medical insurance helps to cover medical costs, such as hospital visits, hospital stays, and medications. Similarly, auto insurance helps to cover damages incurred from car accidents. Insurance payments are known as premiums. Insurance contracts typically limit the amount of costs that an insurance provider may be required to pay.
The McCarran-Ferguson Act (15 U.S.C. § 1011) grants many aspects of insurance regulation to individual state governments. However, federal laws like federal taxes do apply to insurance, and must be acknowledged. Insurance is important to the legal system, as it helps protect individuals, those who cause harm to individuals through negligence, and any third party that is faced with the burden of compensating for an injury.
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Erie Personal Injury Lawyers
If someone else’s negligence has caused you or a loved one to suffer harm or serious injuries, know that you have options for financial recovery. The Erie personal injury lawyers of Munley Law have over 60 years of experience fighting for the rights of Pennsylvania’s injured and recovering compensation. With a track record of securing millions of dollars in settlements and verdicts, we take on the liable party and insurance company to ensure you get the compensation you need for the injuries and damages you incurred.
For a no-obligation, free consultation, contact a personal injury lawyer from Munley Law today.
Why Choose Our Erie Personal Injury Attorneys?
Not all personal injury law firms are made equal. However, the award-winning personal injury lawyers of Munley Law have the experience, dedication, and compassion you seek in legal representation.
Experienced Personal Injury Lawyers
Experience is the most critical factor in selecting a personal injury lawyer for your case. […]
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Erie Uber Accident Lawyer
Residents and visitors enjoy the waterfront activities and attractions that Erie, PA, offers, and many frequently utilize rideshare services like Uber. Unfortunately, that increase in use has also led to more Uber accidents. If you or a loved one were injured in a rideshare car accident, an Erie Uber accident lawyer from Munley Law can guide you through the legal process.
Why Do You Need an Uber Accident Lawyer in Erie, PA?
You never have to hire an attorney for a car accident; however, when it comes to wrecks with rideshare vehicles, it can be beneficial to work with an attorney.
The most complicated part of an Uber accident is knowing what insurance coverage applies to you. Further, there is the question of who was involved during the crash and why it occurred. Of course, there are also general car accident concerns such as injury severity, […]
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How Does Insurance Play a Part in Allentown Wrongful Death Cases?
Living through a loved one’s death is something no one wants to experience. It’s emotionally devastating and may also leave surviving family members with an onslaught of overwhelming questions: How do I navigate the legal process? Do I need a wrongful death attorney? And what role does insurance play?
The role insurance coverage plays in a wrongful death claim depends significantly on the details of the case. In many cases, when surviving family members seek compensation after a loved one’s death, they are seeking that compensation from the defendant‘s insurance company.
For instance, a devastating number of wrongful death claims involve car accidents. The at-fault party in a case like this would be the driver responsible for the accident — perhaps they were texting, driving under the influence, or exhibiting some other kind of negligent or reckless behavior. […]
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What Happens If My Lyft is in an Accident in Philadelphia?
If your Lyft is involved in an accident in Philadelphia, several necessary steps must be taken to ensure your safety and handle the situation correctly. These steps include assessing injuries, contacting emergency services if required, exchanging information with the other parties involved, notifying Lyft, and contacting a Philadelphia Lyft accident attorney.
Understanding the process for protecting yourself and receiving assistance following a rideshare accident in Philadelphia is vital.
What Steps Should I Take if I’m Injured in an Accident Involving My Lyft Ride?
Being injured in a Lyft accident can be shocking and painful. You may feel disoriented and anxious, but try to keep in mind the following helpful steps:
Get Medical Help
Your health comes first. If you’re injured, get medical help right away. Call 911 or go to the nearest hospital or clinic. […]
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How to Deal with Insurance Claims Involving Lyft in Philadelphia
Handling insurance claims involving Lyft accidents in Philadelphia requires clear steps and attention to detail. Initially, there may be a sense of uncertainty and frustration, as car accident victims may feel unsure about the process and which steps to take, not knowing where to begin or how to navigate the process effectively, which is why it’s important to speak with a Philadelphia Lyft accident lawyer to learn what your next steps.
Whether you were a Lyft passenger, driver, pedestrian, or third-party vehicle involved in the Lyft accident, gathering all relevant information, including accident details and medical records, is important. And if things get complicated, talking to a lawyer who knows about Lyft accidents can help. They can guide you through everything and ensure things get sorted out fairly.
Should I Report the Accident to Lyft?
If you’re involved in a Philadelphia Lyft accident, […]
