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Insurance: Accessing Sources of Recovery for Personal Injury

Insurance: Accessing Sources of Recovery for Personal Injury

The practical reality of a personal injury case is that you have been injured and need monetary compensation for your damages. Most individuals do not have enough money on hand to adequately compensate you for a personal injury. That means we have to look for other means, which are called Sources of Recovery. This can be insurance policies held by the at-fault individual/Defendant, insurance policies that you hold yourself, employers of the at-fault individual(s) and their insurance policies, and other potential sources depending on the case.  Examples of Sources of Recovery include: 

  1. At-Fault Party’s liability insurance policy 
    • This would be the general liability policy covering the at-fault individual directly. Depending on the case, that may be their auto insurance policy or their homeowners or renters policy. 
  2. At-Fault Party’s umbrella policy 
    • An umbrella policy is one that protects the at-fault party in an amount in excess of their regular liability policy
  1. Your Uninsured/Underinsured Motorist Coverage 
    • If you were involved in a car crash and the at-fault individual was uninsured or was not carrying enough insurance to fully compensate you for your injuries, you can settle with or sue your own insurance company under your “UIM” policy.
    • The minimum amount of insurance an individual needs to carry  in Indiana is only $25,000. Your UIM can step in to provide additional coverage for you. However, the coverages do not stack on top of each other. If you have a $100,000 UIM policy  and the at-fault individual only has $25,000, you only have a  total of $100,000 that can be recovered.

However, these Sources of Recovery are typically ones which provide a final amount at the end of your case either through settlement or trial. The issue is that you may be injured and have medical bills to pay. Insurance policies that you have can help you in the interim time period until you can either reach a settlement or go through a trial. These types of insurance policies may include: 

  1. Health Insurance 
    • Your own regular health insurance should still be paying as it normally would regardless of whether or not you were injured by someone else
  1. Auto Policy Medical Payments Coverage 
    • Your auto policy likely has a no-fault amount to cover medical  bills incurred as a result of a vehicle crash. This may be $5,000 or $10,000 but could be as high as $25,000 or $50,000 depending on your policy.
  1. Personal Injury Insurance 
    • This is an insurance policy you may have that helps pay for various damages when you are injured by someone else. The amount and extent of coverage will depend on the individual policy.

It is important to retain a personal injury attorney quickly after you are injured so  that the Sources of Recovery and any other policies that may help you before you reach a potential settlement are identified.  

Disclaimer: The content of this blog is intended to be general and informational in nature. It is advertising material and is not intended to be, nor is it, legal advice to or for any particular person, case, or circumstance. Each situation is different, and you should consult an attorney if you have any questions about your situation.

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