Tag Archives: insurance

Stick to the basics: Handling Insurance Companies After an Accident.

Unlike Minnesota, Wisconsin is not a no-fault state. Instead, it operates under a tort system, which requires fault to be established after an accident. Insurance companies will use statements from those involved to assert a degree of liability to each party in the accident. Under the tort system, the amount of potential settlement is directly affected by the level of fault each party bears.

Following a motor vehicle accident, representatives from each insurance company involved may try to contact you, both by phone and in writing. Do not provide a statement, whether written or verbal, without consulting an attorney first. Doing so could have an adverse impact on your case and any potential settlement you might receive. When you’ve been injured in an accident, the first thing many people do is contact their insurance company. By nature, and likely due to shaken nerves, people are inclined to offer not only their detailed perspective on what occurred, but through their state of shock, they may also provide details that are not fully accurate.

Instead, stick to the basics. Provide only the …
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Disability Insurance – Are you Covered?

Suppose, if you will, that you’ve been injured in a serious accident. Surgeries are required, along with extensive treatments and months or even years of recovery. You may have a small reserve tucked away that will sustain you for a couple of weeks or months, but what then? Unable to return to work, you could face mounting bills and tremendous financial burdens. Your biggest asset is not your home or current investments, but rather your ability to go to work and garner a suitable income. When that is taken away, you have very few options. However, if you have an adequate disability insurance policy, many of those financial burdens could be eliminated.

There are a lot of misconceptions surrounding disability insurance, leaving many people unknowingly at risk. Disability insurance is private insurance, most often obtained through an employer or individually, that pays lost wages as a result of a non-work related illness or injury. It is not to be confused with Workers Compensation Insurance or Social Security Disability Insurance. There are two types of disability insurance: short term and long …
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Homeowners’ Insurance Policy Claims: 1 Year SOL – A Trap for the Unwary

Imagine that your home has just been damaged by a recent fire or hail storm. You take a deep breath, relieved that you have a homeowners’ insurance policy to cover the damage. You soon realize that it will take many months to fully document all of the items lost, assess the actual value of the damage and then begin the process of getting estimates and rebuilding.

What you may not realize is that you generally have only twelve months from the date of loss to either settle your claim for damages with your insurer or file suit. Failure to do so can result in a complete loss of your claim. While twelve months may sound like a long time, it can go by quickly.

Most homeowners and similar indemnity policies are loosely classified as “fire insurance” policies. They may not apply exclusively to fires, but they do include fire protection, along with protection against other forms of loss, including flooding, hail, ice, lightening, explosion, and wind. As such, they are subject to Wis. Stat. 631.83, requiring a claim to be …
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Understanding UM/UIM Coverage in Wisconsin – Making sure you are adequately protected.

In order to appreciate the benefits of UM/UIM coverage, it’s essential to understand the different types of coverage available to motorists.

Uninsured/Underinsured (UM/UIM) Motorist Coverage: These policies are intended to cover the medical bills, pain and suffering and wage loss claims incurred by the victim and their passengers, from an accident in which the at-fault driver either didn’t carry any liability insurance or who’s policy limits were insufficient to cover all of your related losses. In addition, uninsured coverage also includes “phantom vehicles”, or those that cause injury or property damage without making physical contact. In short, this insurance protects you and your family against injury caused by other drivers. Wisconsin law requires drivers to carry a minimum of $25,000 per person and $50,000 per accident in uninsured (UM) coverage. Although underinsured (UIM) coverage is considered optional, it is recommended that drivers carry a minimum of $50,000 per person and $100,000 per accident. It is recommended that drivers carry the same amount of UM coverage as well.

Liability (Bodily Injury) Insurance Coverage: This type of insurance coverage is required by …
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