Know Your Insurance Policies to Protect Your Family
In November of 2012, David Stoms was driving home with his daughter, Alexis, from a family outing. The trip was uneventful until the unthinkable happened. An accident killed David and left Alexis seriously injured. Matthew Bairs, the other driver, was deemed at-fault and uninsured. At Silverman, McDonald & Friedman, we have successfully represented clients who have been injured by the uninsured or underinsured, as well as those who are un- or underinsured as well. A well-informed client is a safe client, and the safety and security of you and your loved ones is our top priority.
David was a finance manager for Diamond Motor, a car dealership in Dover. The car he was driving belonged to the dealership, and was both registered to and insured by Diamond Motors. Under the policy, David’s wife and two children were paid the full amount of Personal Injury Protection. His family argued they should be entitled to the full amount of uninsured motorists’ coverage in the policy, but a standard exclusion limited that coverage to “directors, officers, partners or owners” only.
Understanding insurance policies
The National Association of Insurance Commissioners tells us, “An insurance policy is a legal contract between the insurance company (the insurer) and the person(s), business, or entity being insured (the insured)… Many insureds purchase a policy without understanding what is covered, the exclusions that take away coverage, and the conditions that must be met in order for coverage to apply when a loss occurs.”
There are four basic parts to an insurance contract; the NAIC has an excellent guide to understanding any policy here. However, before purchasing insurance or after an accident, navigating the maze of requirements and options can seem insurmountable.. Very few people read an entire policy cover to cover; they are dense and difficult documents more suited to a courtroom than a dining room table. While your insurance agent can handle most of your questions, they may not be speaking from a position of legal authority for any given situation. It pays to have a skilled and experienced Delaware personal injury attorney on your side
Insurance companies are out to protect their bottom line. At Silverman, McDonald, & Friedman, we are out to protect you. If you have questions about your coverage, or are filing a claim, visit our offices in Newark, Seaford, or Wilmington, or contact us today for a free consultation.
Attorney Jeffrey S. Friedman joined Silverman, McDonald & Friedman in 2001. He graduated from Widener University School of Law, and is admitted to practice law in Delaware and Pennsylvania, and in several Federal Circuit courts. He areas of concentration include auto accident and workers’ compensation cases. Read more about Attorney Friedman here.