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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Philadelphia Catastrophic Injury Lawyer
Your Advocate After a Catastrophic Injury in Philadelphia
Accidents happen every day. Of course, any injury stemming from an accident caused by someone else’s negligence has practical impacts on a victim’s life. Injury victims must seek expensive medical treatment, deal with time off work, meaning lost wages, and often must navigate emotional distress following the accident. As you likely know, in these cases, our Philadelphia personal injury attorneys can help you recover compensation for your injuries through a personal injury lawsuit.
But if you or a loved one suffered permanent, severe injuries because of someone else’s negligent actions, for example, a spinal cord injury, severe burn, or traumatic brain injury, your life is turned upside down. Because of that, your response to those injuries is all the more critical. This is because while a catastrophic injury victim’s life is permanently changed, […]
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Does Insurance Cover a Bicycle Accident in Philadelphia, PA?
When you sustain injuries and property damage due to a bicycle accident in Philadelphia, the available insurance coverage depends on many aspects. In most cases, the responsible driver’s motor vehicle and auto insurance policy will likely cover your medical bills and damages. Additionally, your auto insurance policy may cover your losses through compulsory uninsured/underinsured motorist coverage when your policy limits exceed those provided under the responsible driver’s policy limits. After a bicycle accident, an attorney must navigate the insurance claims in-depth and secure compensation for injuries and damages. Contact a Philadelphia bicycle accident lawyer for a more in-depth explanation of the insurance claim investigation and to recover adequate compensation for your injuries and damages.
Does Car Insurance Cover Bike Accidents in Philly?
A car insurance policy can cover accidents in Philadelphia. Normally, the liability coverage of the driver’s car insurance policy would pay the cyclist for the injuries sustained. […]
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What Happens When You Have a Philadelphia Bike Accident?
Experiencing a bike accident in Philadelphia can be jarring and stressful. In the aftermath of such an event, knowing what steps to take is important for protecting your health, ensuring your rights are upheld by filing a personal injury claim with a Philadelphia bicycle accident lawyer, and seeking fair compensation for any injuries or damages.
Understanding the process, from assessing injuries to seeking legal assistance to determining who is ultimately responsible for your bicycle crash, can help you navigate the situation effectively and make important decisions about your next steps.
What Are the Bicycle Accident Laws in Philadelphia, PA?
Bicyclists must follow the same traffic laws as motorists, including stopping at red lights and stop signs, yielding to pedestrians, and riding in the same direction as traffic.
Helmet Laws: While no statewide law requires adults to wear helmets while riding bicycles, […]
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Erie Drowsy Driving Accident Lawyer
Most drivers are aware of the risks that something like drunk driving entails. We know not to get behind the wheel while intoxicated or under the influence of any substances. But what about driving when we’re tired?
If you or a loved one has sustained injuries in a car accident caused by drowsy driving, you deserve justice and compensation. Don’t hesitate to contact one of our top drowsy driving accident lawyers in Erie to learn about the legal process and how we can help with your car accident lawsuit.
How Many Car Accidents Are Caused by Fatigued Drivers in Erie, PA?
While getting behind the wheel when you’re feeling fatigued might not seem all that risky, the numbers show that drowsy drivers cause many car accidents each year. According to the National Highway Traffic Safety Administration (NHTSA), in 2019 alone, drowsy drivers were responsible for approximately 91,000 crashes, […]
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Erie Distracted Driving Accident Lawyer
Most drivers have been told about the dangers of texting while driving. Taking just a few seconds to glance down at your phone or to type out a message can result in an accident, serious injuries, and, in the worst of cases, can have deadly consequences. However, texting is not the only kind of distracted driving that drivers must be aware of. There are four distinct categories of distracted driving: visual distractions, manual distractions, cognitive distractions, and auditory distractions.
Distracted drivers pose a major threat to everyone on the road and cause many car accidents. If you or someone you know has sustained injuries in one of these car accidents, you may have grounds for a lawsuit. Contact one of our Erie distracted driving accident attorneys today to explore your options and learn how we can help you recover the compensation and the justice you deserve from the distracted driver’s insurance company. […]
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