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In Reply to: Re: Re: auto insurance lawsuits or arbitration? posted by JoeyG on July 05, 2010 at 15:38:44:
Take out an umbrella policy in addition to your standard auto insurance policy. It's cheaper and an umbrella policy provides extra protection for your home and other assets in the event of a lawsuit.
Mitch S.
: Biz:
: I suspect it's a case by case think, with the insurers not wanting to be taken advantage of and verifying larger claims.
: JoeyG
: Joeyred1@netmail.com
: : Inept?
: : It's so true many auto insurance claims are fought by stalling and delaying and low ball offers. The car insurance company is not looking to make friends when you are asking them for money, they are a for profit business.
: : BIZSMash
: : : "Find out if you are giving up your right to go to court and will be forced into arbitration if there is a disagreement [between you and the insurance company]," one expert advised. "You're much better off if you don't give up this right. It makes it easier for [insurers] to take advantage of you." If you find a clause to this effect, all isn't necessarily lost. "At least in theory, a contract is a mutual agreement, so you should be able to cross out that line in the policy," he said. If the company won't agree to the policy sans clause, then you should probably take your business elsewhere.