Understanding the Difference Between Total Loss and Salvage Vehicles Nowhere is the difference between “knowing” something and “understanding” something more evident than when it comes to the relationship between “totaling a vehicle” for insurance purposes and the concept of salvage vehicles under state law. Everybody knows what it means to “total” a vehicle. But very…
With exceptions not relevant here, the omnibus statute, Wis. Stat. § 632.32, requires every motor vehicle insurance policy issued to an owner to provide that: (a) Coverage provided to the named insured applies in the same manner and under the same provisions to any person using any motor vehicle described in the policy when the use…
“Is the Juice Worth The (Florida Orange) Squeeze?” Carriers and adjusters are all too familiar with the “Judgment Proof Uninsured At-Fault Motorist.” Unless your insured happened to be driving in the Tampa area and was t-boned by Tom Brady, the same day his automobile coverage lapsed, the question always becomes “Is it worth pursuing subrogation…
There is a pandemic afoot that may rival COVID-19 in the amount of destruction it leaves in its wake. Nearly one U.S. driver in eight is speeding around on American roads and highways without any liability insurance. Even though every state except New Hampshire mandates purchasing liability insurance as a condition for driving, nearly 13%…
“Mr. Sherlock Holmes – You could not possibly have come at a better time!” the claims adjuster exclaimed. “This vehicle accident is a typical ‘he said, she said’ situation. Both drivers claim to have had the green light and there appears to be no way to prove which driver was at fault – it is…
Subrogation professionals must be aware that Florida’s collateral source statute contains a trap for the unwary. Under F.S.A. § 768.76 (6), if a provider of collateral source benefits (e.g., Med Pay or health insurance benefits) does not respond to the insured’s request for a statement asserting the subrogated lien amount within thirty (30) days, the…
Let’s just say it. Florida PIP subrogation is a pain in the butt. The state was almost out of the weeds in 2007 when its no-fault laws automatically sunsetted; but the legislature passed a new no-fault law which took effect in 2008. PIP coverage is required for all “motor vehicles” registered and licensed in Florida…
In 2014, Florida surpassed New York becoming the third-most-populous state in the nation, and as of last year has an annual $1 trillion Gross Domestic Product (GDP) making it the 17th largest economy in the world. What happens in the Sunshine State is emulated elsewhere, and auto insurance is no exception. For that reason, all…
Good first-party claims practice requires prompt repair of damaged vehicles. Obviously, the time it takes to repair a damaged vehicle depends on the complexity of the claim, the nature and extent of the damages, and the availability of quality replacement parts. An insured will usually be contacted by their auto carrier within a couple of…
In its widest sense, “no-fault insurance” is a term used to describe any auto insurance coverage under which policyholders are paid for personal injuries and property damage they sustain in accidents through their own insurance company, regardless of fault. In many ways it is like first-party coverage. However, the term “no-fault” is most commonly used…