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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How Much Can Someone Sue for a Car Accident?
In general, there is no limit to how much you can sue someone for a car accident. However, there are factors that may limit how much compensation you will recover in a lawsuit. Things like the severity of the injuries, the extent of the other party’s negligence and the coverage of insurance policies will all limit what you can recover.
How Much Can a Car Accident Victim Sue For?
Car accident victims can sue for economic and noneconomic damages depending on the severity of the wreck. The only way to really maximize the total compensation a victim may be awarded is by utilizing the legal representation of a car accident lawyer.
Potential compensation a car accident victim may be awarded include:
- Medical expenses
- Lost wages
- Diminished earning capacity
- Property damage
- Pain and suffering
- Loss of consortium
- Wrongful death
What will be awarded will also depend on the severity of the crash. […]
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Where Do Most Fatal Car Accidents Occur?
According to the National Highway Traffic Safety Administration (NHTSA), most fatal car accidents happen within 25 miles of your home. However, not only does being close to home increase the likelihood of being involved in a fatal crash, so too can the type of community you reside and commute in and the roadways you most frequently traverse increase your risk.
No matter where your car accident occurred, if you or a loved one suffered injuries or death in a car accident, you may be eligible for compensation. A Munley Law Personal Injury Attorneys car accident attorney can help you determine the cause of your accident, and calculate what damages you may qualify for.
Where Do Most Car Accidents Happen?
Car accidents can happen anywhere at any time. However, while many of us may think that driving through cities and urban highways with heavy traffic are the most likely to get into a fatal car accident, […]
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What Are the Chances of Winning a Personal Injury Lawsuit?
When you are hurt in an accident because of the negligence of another, your first instinct may be to just let it go. After such a traumatic experience, it’s easy to want to push past it and move forward. However, other people may see this traumatic experience and immediately think the right move is to sue in a personal injury lawsuit.
But what are the chances of winning a personal injury lawsuit? While no personal injury attorney can guarantee an outcome for your claim or case, working with a reputable law firm can help you win your claim and secure the compensation you need to move forward.
When Can You Sue For a Personal Injury?
There are many accidents that may result in needing to file a personal injury claim or lawsuit to recover the compensation needed to deal with your injuries and financial losses. […]
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Why Is My Car Accident Settlement Taking So Long?
Sitting around and waiting for your case to settle can be frustrating. It may feel as though you are not being prioritized, or that you’ve been forgotten, but that is not the case. Asking, “Why is this taking so long?” is valid but cannot be easily answered.
The process of settling a case is complex, intricate, and includes many working parts that take time. In some cases, a car accident claim may have to go to court because both parties cannot reach an agreement. This can make the whole process even longer. An important fact to remember is that every case is unique; therefore, the amount of time it takes for a case to settle is unique. Although easier said than done, it is important to stay as patient as possible when waiting for your settlement.
Why Do Car Accident Settlements Take Such a Long Time? […]
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How Do You Prove a Traumatic Brain Injury?
Whether you were hurt in a car accident, workplace accident, or another personal injury case, receiving a diagnosis of a traumatic brain injury (TBI) can be scary. With more than 64,000 TBI related deaths in 2020 alone, you or your family will be fighting to ensure the proper care is given for the injured victim. But if you were injured as a result of someone else’s negligence, how do you prove a traumatic brain injury was suffered?
At Munley Law Personal Injury Attorneys, we represent personal injury victims and their families who have suffered a traumatic brain injury and now are fighting for compensation from the insurance companies, or the liable party. If you suffered from a TBI following a car accident, workplace accident, or another event, call Munley Law Personal Injury Attorneys. We can help. […]
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