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Rob,Bad news, man- sorry to hear. The good intention to make payments is no more assuring than the good intentions at the scene. These things usually go where the person makes several payments then melts away. I am the type who would be pissed enough to take her to small claims court. It's very inexpensive and effortless. The outcome is assured. The result is that you get a judgment. The result might be the same, a payment plan- but the consequences of her defaulting are more grave. Of course, if she does not want to be dragged through that, she can borrow the money from a dear friend NOW, pay you, then take the time to pay off the friend.
small claims court will only memorialize the dept. they do nothing to collect it and there is no penalty if the judgement is unfulfilled.you have to pay to collect it
"They will Subrogate with your health insurance company"what does this mean?how is your health insurance company responsible for your loss?subrogation is the transfer of the wronged party's rights to another party ie their insurer ( following a payment under the policy)
subrogation is among the two insurers...the health insurance and the vehicle insurance companies. Basically they split the costs. Usually means the vehicle insurer will pay the $10k (or whatever policy limit) of medical coverage. Typically it pays the deductible and gaps the Health Insurance doesn't cover up to the policy limit. Or the vehicle insurer may just pay the policy holder $10k and let the insured work the medical bills with the health insurance company.
Basically , the only parties getting rich are the lawyers . Dusty
Quote from: Lannis on February 06, 2015, 02:36:35 PMYep. And I JUST remembered where that money all comes from .... !LannisThose expenses are spread out over the entire customer base . No way an insurance company can charge one individual a high enough rate to cover a large loss . Dusty
Yep. And I JUST remembered where that money all comes from .... !Lannis
most insurers make their money on their investments; they invest the premium dollarsthe premium pool is not large enough for most lines to cover the claims never mind the expense; most auto isurers have loss ratios of more than 100%
Lannis , we are still relatively young . One major surgery with an extended hospital stay will eat up that $400K . Just how the system works , the next gen will have to subsidize us in our old age . Dusty
I have to disagree, that is not the definition of subrogationA term denoting a legal right that is reserved by most insurance carriers. Subrogation is the right for an insurer to pursue a third party that caused an insurance loss to the insured. This is done as a means of recovering the amount of the claim paid to the insured for the loss.
Being rear ended is a scenario that I dread, and knowing what is going on behind you is very much harder than knowing what is coming up front.
Rob, just saw this thread. Being rear ended is a scenario that I dread, and knowing what is going on behind you is very much harder than knowing what is coming up front.Glad you are OK.
This is a very good argument for going fast all the time.
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