Insurance is something most of us don’t think about until we need it, but understanding the ins and outs of it is crucial for everyone. From protecting others to securing your own future, insurance plays a pivotal role in our lives – and what’s crazy is that people will claim it’s just some kind of scam. Today, we’re aiming to answer your questions and drive home the reasons why carrying insurance is so important.
We’ll cover:
- The Real Purpose of Insurance
- I’ve Been Injured & My Insurance Won’t Pay. Now What?
- The Role of Personal Injury Lawyers in Your Insurance Claim
- LGP Law & Personal Injury | What Kinds of Cases Do We See?
- Why Do I Need Health Insurance?
- Why Do I Need Life Insurance?
The Real Purpose of Insurance
Insurance is often seen as a just another hoop to jump through. In regulated environments like Washington state, some kinds of coverage are actually a legal requirement. Many people commonly assume insurance is just for personal protection and asset security in case they harm someone, but the real reason goes far beyond that.
Insurance is Not Just About You, It’s About Others, Too
Essentially, the purpose of insurance is to provide a safety net for OTHERS if and when we cause harm. This is especially important in situations like motor vehicle accidents, where the potential for causing significant injury or damage is high. By having adequate coverage, you ensure that victims receive the compensation they need. It enables us to make things right for those affected.
“The origins of insurance are not about protecting us; it’s about protecting other people to the very best of our ability when we as human beings make a mistake.”
Bill Pickett
How Do I Counter People Without Insurance?
Something we commonly see at LGP Law are cases where people don’t have insurance. There are two kinds of coverage that can help when you’re affected by a driver with little to no insurance.
- Uninsured motorist (UM)
- Underinsured motorist (UIM) coverage.
Sometimes agents will suggest that UM or UIM coverage are unnecessary, but this is incorrect. Having this kind of coverage is vital, especially in lower income areas like Yakima and Central Washington. There are so many drivers out there who don’t carry insurance, and this presents a significant problem. If you have an accident with an uninsured driver, having good UM or UIM coverage can really protect you and your loved ones.
How Much UM or UIM Coverage do I Need?
One of the most critical aspects of insurance is having adequate coverage. You may be wondering, “How much UM or UIM insurance do I need?”
The amount of UM or UIM insurance you carry should match your liability insurance; you want those to be equal so that you have comprehensive protection for yourself and others.
“You don’t want to insure other people at a high level but not yourself; that doesn’t make any sense. Those levels should always be equal, and it’s vitally important, especially in the world we live in today.”
Bill Pickett
I’ve Been Injured & My Insurance Won’t Pay. Now What?
When you’re injured, whether from an automobile accident or another event, and have coverage — be it auto, homeowner, health, or life insurance — you expect it to cover the costs. But what happens when the insurance company refuses to pay?
Contacting a Personal Injury Attorney
Many people are initially shocked and confused by having their claim denied. They may find themselves stuck in a cycle of questioning the insurer’s motives, only to receive repetitive excuses instead of real answers.
If you’re in this situation, the first step is to pause and contact a lawyer experienced in handling these kinds of disputes – a personal injury lawyer. Claim denials are unfortunately very common, and they leave policyholders without the support they’ve paid for.
By engaging a knowledgeable lawyer, you can significantly improve your chances of having your claim approved. As someone who has paid premiums for coverage, you deserve answers and the protection promised by the insurer. Sometimes, it takes a lawyer to ensure the company will honor its commitments, and that’s what LGP Law is here to help with every day.
The Role of Personal Injury Lawyers in Your Claim
Personal injury lawyers play a crucial role in representing injured individuals, and there’s often a lot of negative media or bad portrayals claiming that lawyers aim to bankrupt people involved in accidents. This is not true!
What are do Personal Injury Lawyers Do?
Personal injury lawyers work to guarantee that insurers honor their commitments and provide the protection policyholders have paid for. The primary goal of a personal injury lawyer is to secure compensation for the injured party.
That means we want you to be compensated for any of the following:
- Your medical bills
- Lost wages
- Emotional trauma from having significant injuries
“What personal injury lawyers are looking to do is to find compensation for the person who’s been injured, to give that injured person some relief—whether that’s paying medical bills, recovering lost wages, or handling some of the emotional trauma that comes with a significant injury.”
Bill Pickett
Don’t Insurance Companies Just Want to Help People, Too?
Not always. Many of these companies are profit-driven, and they will sometimes prioritize their profits over paying your claim. This can lead to a tug-of-war between the victim’s lawyer and the insurance company. The job of a personal injury lawyer is to hold the insurance company accountable and make sure it fulfills its promise to pay your claim fairly, appropriately, and lawfully.
When Do I Need a Personal Injury Lawyer to Help with a Claim?
While it’s true that some companies may act unethically, many do fulfill their obligations. Sometimes they pay claims, and they do it promptly. In those instances, you don’t need an attorney to get involved.
But you should never assume that your insurance is going to do the right thing. You can be cautiously and optimistically hopeful that they do, but when they don’t answer your questions or when they don’t pay the claims they should pay, you’ll want a lawyer to step in.
Lawyers are there to lay down the law to the company and make things right. If push comes to shove, we will always back you up, and insurance companies know that.
LGP Law & Personal Injury | What Kinds of Cases Do We See?
We frequently encounter catastrophic injuries, including deaths, permanent brain injuries, and loss of limbs. These occur in various situations, like automobile collisions or activities where risks are taken, despite known dangers. Boating and other motor vehicle activities are common examples where people take risks that lead to severe outcomes.
The most tragic cases we see involve individuals who suffer significant injuries, requiring hundreds of thousands of dollars in medical care, only to find that the responsible party has no insurance. This situation is all too common and underscores the vital purpose of having coverage.
“Insurance is not solely for personal protection, but to safeguard others if and when we are negligent.”
Bill Pickett
By Having Insurance, You Help Unburden Society!
Without insurance, the burden of catastrophic injuries often falls on society, with programs like Medicare and Medicaid covering costs when individuals are uninsured. These are programs are something that we, as a society, pay into. Being uninsured simply isn’t fair to our community.
That’s why it’s crucial to understand that insurance protects others from our mistakes, ensuring that the responsibility lies with the covering company, whose business it is to manage such risks. Having no coverage shifts the financial burden onto public assistance programs, which ultimately affects all taxpayers.
“When there is no coverage, the person who’s injured is really left on an island with no protection.”
Bill Pickett
Why Do I Need Health Insurance?
Carrying health insurance is becoming increasingly important due to the rising costs of medical care. Having adequate coverage is vital because everyone faces various ailments eventually, from common illnesses to severe conditions like cancer or leukemia (if you’ve ever seen the movie The Rainmaker). These can require very costly care. Right now, our society is facing a dilemma where inadequate coverage is rampant, and misconceptions about government solutions continue to worsen the situation.
Why is Medical Care So Expensive?
One of the reasons medical care is so expensive is because we have a severe shortage of doctors in the U.S. This underscores our need to expand medical residency programs to continue to ensure we have enough healthcare professionals.
When someone doesn’t have adequate coverage, they are usually forced onto state systems like Medicare and Medicaid. These systems often severely underpay healthcare providers – pennies to the dollar. This underpayment has contributed to our doctor shortage and lead to reduced care quality.
This is why crucial that you secure the best health coverage possible. Not only does lacking protection often lead to financial despair in a medical crisis, but relying solely on government solutions can complicate your healthcare delivery. Private entities, despite their profit motives, actually have incentives to provide excellent service.
Why Do I Need Life Insurance?
Life insurance is also essential, especially for individuals with young families. If your life is abruptly ended, the financial support you provide for your family is also lost. This coverage aims to reduce these financial gaps and help your family members cope after a loved one passes away.
We believe it’s crucial for everyone to have this coverage to help their families transition smoothly during a difficult period. The death of a family member can bring about:
- Mourning
- Significant changes
- A need for financial redirection
Like we’ve said, insurance is not just about you, it’s also fundamentally about protecting others. It helps alleviate financial stress, allowing your loved ones to focus on healing without the burden of monetary concerns.
“The whole concept of life insurance is to try to cover for those losses that a family has to live with if and when somebody passes away.”
Bill Pickett
Conclusion
Insurance is a sound principle designed to provide protection and compensation in the event of unforeseen circumstances. It’s not a scam, and it plays a crucial role in protecting both the policyholder and those who may be affected by their actions.
Whether it’s health, life, or auto coverage, having this protection can make all the difference in the world. By understanding the importance of insurance and taking action to have adequate coverage, you can protect:
- Yourself
- Your loved ones
- Society as a whole
However, dealing with these companies can be a challenge, and it’s essential that you seek legal assistance and an attorney’s help when necessary. If you find yourself in a situation where your claim is being denied, please contact our office, and let us help.