Rear End Wreck Case - $225,000 Settlement
Family Of Four Rear-Ended In An Auto Accident
In this case, our offices represented a family of four who suffered various injuries including a labral tear and the necessity of a discectomy after being involved in a low-impact rear end collision. In most cases, when the damage to the vehicles is slight and the projected speed at time of impact is low, the insurance company is inclined to believe that the injuries are not likely severe either. However, despite the estimated "low impact" of the collision, we were able to secure a $225,000 settlement on behalf of the family which reflected the absolute maximum policy limit that was in force for the other party's insurance company.
The Importance of Maintaining Insurance
Each state is different when it comes to insurance requirements for automobile drivers. In Illinois, insurance is mandatory and requires certain minimum policy limits. But whether the insurance is mandatory or voluntary, drivers should have a policy in place in order to protect not only others, but to protect themselves as well. That’s because you never know what might happen in the event of a car crash. The other occupants might be killed, or even when the speed of the impact is low, the injuries may still be very serious, requiring surgical intervention and may be permanent in nature (as in our settlement detailed above).
If you caused an accident and this were to occur, while you either did not have insurance at all or your policy limits were too low considering the extent of the injuries, you would be personally liable for any additional money judgements in excess of your policy limits. That would place your personal bank accounts, home, car, and wages all in jeopardy. If you were the victim of such an accident and the other party was uninsured or underinsured, it may limit the total amount of your financial recovery.
The 6 Basic Types of Insurance Coverage
Property Damage: This is the type of insurance coverage that pays others if you (or another authorized person driving your automobile) damages the property of another. This usually involves another person’s car but might relate to almost any other damaged object such as a guardrail, a telephone pole, a tree, or someone’s front lawn.
Bodily Injury: This type of insurance is widely considered to be the most important type because it pays for injuries to other people and covers the policy holder and designated drivers. It also generally covers family members when they drive other people’s cars with permission. Lack of sufficient bodily coverage insurance puts your personal property and assets in jeopardy.
Medical Payments: Also known as Med Pay or PIP, this will cover the cost of medical treatment for the driver and passengers of the insured car. It may also cover lost time from work and funeral expenses.
Collision: In contrast to “property damage liability”, collision covers damages to your own car, whether it collided with another car, a telephone pole, a pothole or another object.
Underinsured & Uninsured Motorist: Considering that many drivers are either uninsured or have policy limits that are far too low, this type of insurance can make all the difference and ensure that you are able to receive proper monetary compensation in the event that you have an accident with such a person. Under some circumstances, it may also cover you if you are hit by such a person while you are a pedestrian.
Comprehensive: This covers damage from matters other than a car crash such as fire, theft, explosion, falling objects, or vandalism.
Although people should all carry reasonable amounts of insurance to guard against future serious accidents, many do not. This often presents a great problem for those who are later the victims of such other drivers’ negligence, in that it may make it very difficult to collect a fair settlement for the injuries that they create. At Mitchell S. Sexner & Associates LLC, we have helped victims collect the maximum available for over 25 years. Contact us anytime at 800-996-4824.