Tag Archives: Insurance

Do You Need Pet Insurance for Buddy?

13 Wednesday Apr 2011

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Veterinary bills are increasing much faster than the overall rate of inflation. Part of this reason lies in the advancements of medical techniques and the increasing number of veterinarian specialists. These trends, however, come at a price. For example, performing a magnetic resonance imaging (MRI) exam on the spine of a cat can cost upwards of $2,000. Removing a tumor on a dog can cost $4,000, and implanting a pacemaker can cost over $7,500. Even dealing with a dislocated ankle can run you around $5,000.

As a result, pet insurance sales are increasing rapidly. Is this a wise purchase? Much of the decision depends on how you view your pet. If you are emotionally close to your pet and see it as a loving family member who is nearly irreplaceable, then consider the following questions. If the answer to any of the questions below is yes, you should look into purchasing this coverage.

  • Are you willing to go into debt to provide health care for your pet?
  • Are you on a fixed or limited income?
  • Would you be willing to spend over $5,000 to save your pet in a life-threatening situation?

If you decide to purchase this protection, you should carefully compare the rates and policy provisions of at least three well-established pet insurers.

Get more personal lines insurance and risk management tips and ideas from IRMI.

Copyright 2011
International Risk Management Institute, Inc.

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Actual Notice Required to Trigger Duty to Defend

25 Friday Mar 2011

Posted by in Insurance, Insurance Coverage, NC Court of Appeals, NC Law

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Insurers need actual notice to require a duty to defend. If you are an insured and you have been served with a lawsuit the first thing you need to do is notify your insurer in writing. If you fail to notify your insurer you will have to prove to the court that you had a good faith reason for the failure. This is becoming harder and harder to do. Great American Ins. Co. v. C.G. Tate Construction Co., 315 N.C. 714 (1986). See also Kubit v. MAG Mutual Ins.

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Insurance Not Responsible for Expert Witness Fees

25 Friday Mar 2011

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Most of the time the insurance company will be responsible for expert witness fees when the insurer has a duty to defend but not in Bain v. Unitrin Auto and Home Ins. Co. The N.C. Court of Appeals, held that where the insured hired the expert witness on his own before filing a counterclaim that gave rise to the insurer’s duty to defend the insurer was not responsible for the expert’s fees even if the expert testified regarding the counterclaims that the insurer was defending.

Does home insurance cover bedbugs? | Bankrate.com

13 Wednesday Oct 2010

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Does homeowners insurance, or renters insurance for my friends in New York City, cover bedbug infestations? This is a question that few, if any, homeowners insurance agents have ever fielded prior to the Great Bedbug Epidemic of 2010. Now the calls are coming out of the woodwork, so to speak.

So. Let’s say you have bedbugs, and hypothetically, you’re not too embarrassed to admit it to your homeowners insurance agent. Can you make a claim to rid your home or apartment of the uninvited guests?

Uh, no. According to Wilkinson, most standard homeowners insurance and renters insurance policiesexclude vermin infestations. Keeping bedbugs and other vermin at bay is considered the homeowner’s responsibility. Or option, I suppose.

via Does home insurance cover bedbugs? | Bankrate.com.

Homeowner’s Insurance Does Not Cover Defective Construction « South Carolina Construction Defect Law

05 Tuesday Oct 2010

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The Sixth Circuit Court of Appeals ruled that an insurer was not obligated to pay for water damages to a condominium building because the insurance policy specifically excluded coverage for damages caused or resulting from building construction and design defects. TMW Enterprises, Inc. v. Federal Ins. Co., No. 09-1542, (6th Cir. Aug, 25, 2010). Substandard construction on an exterior wall allowed the water intrusion which resulted in damages of $4 million.

“In no case will we entertain any loss or claim that occurred or was in progress prior to the policy period inceptiondate or after the policy period expiry date shown on the Declarations.” This, and other similar language is common in policies as it implies that defective construction occurs prior to completion. While this language is in the insuring agreement, the clause discussed in the TMW case was a specific exclusion which related to substandard construction.

via Homeowner’s Insurance Does Not Cover Defective Construction « South Carolina Construction Defect Law.

30th IRMI Construction Risk Conference

15 Wednesday Sep 2010

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I will be attending the 30th IRMI Construction Risk Conference, which is being held in Orlando, FL November 14-18, 2010. IRMI is a great resource for risk and insurance solutions for those in the construction industry. If you haven’t visited their website you are missing out on a wealth of information. http://www.irmi.com

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No Waiver of Sovereign Immunity

01 Wednesday Sep 2010

Posted by in Insurance, Insurance Coverage, NC Law

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The doctrine of sovereign immunity normally bars complaints against sheriffs deputies sued in their official capacity. A county

may waive sovereign immunity by purchasing liability insurance but only to the extent that coverage is provided. In N.C. a government entity can purchase liability insurance without waiving sovereign immunity. In Owen v. Haywood County, (2010) the N.C. Court of Appeals reviewed the exclusionary provision within the insurance policy, which stated that the insurance did not provide coverage to any claim where the covered person was entitled to sovereign immunity, and concluded that this particular language meant that Haywood County did not intend to waive its sovereign immunity.

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Novant sues Aetna over contract dispute – CharlotteObserver.com

10 Tuesday Aug 2010

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The parent company of Presbyterian’s health care network has sued insurer Aetna – alleging unfair competition, defamation and the misuse of trade secrets – escalating tensions between the two as they seek to negotiate a new contract.

The suit, filed in Mecklenburg Superior Court, comes a few weeks after Aetna announced it would end its contract with Novant Health on July 1 if the groups don’t reach an agreement on how much the insurer should reimburse Novant to provide medical services.

That could leave about 125,000 Charlotte-area Aetna customers out of network – and paying more out of pocket – to use Presbyterian Healthcare services. Novant, based in Winston-Salem, operates medical facilities and hospitals, serving more than 5 million people across the Carolinas and Virginia.

via Novant sues Aetna over contract dispute – CharlotteObserver.com.

Frequently Asked Questions About Car Insurance

17 Thursday Jun 2010

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I thought I would take a moment to answer some of the more frequently asked questions about car insurance. Please remember I am mainly writing about N.C. Law and the law changes frequently so you should always consult an attorney about any issue you may have.

Coverage For Damage to Others

People are always asking what is Bodily Injury or What is Uninsured Motorist Coverage… well here is the answer:

Bodily Injury: This coverage pays for an injury you cause someone else through an accident. It can pay for medical bills, rehabilitation, funeral expenses, etc…

Property Damage: This coverage pays for property damage to someone else’s car when you have caused an accident. It can pay for the actual repair cost or the cost to total out the vehicle.

Coverage For Your Damages

Collision: This coverage pays for damages when your vehicle is damaged in an accident no matter who is at fault.

Comprehensive: This coverage pays for miscellaneous damages such as fire, theft, hail damage, broken glass etc..

Uninsured Motorists Coverage (UM): This coverage pays for both physical damage and vehicle damage when someone hits your car and it turns out they do not have insurance.

Underinsured Motorists Coverage (UIM): This coverage pays for bodily injury to you when you are in an accident and the person that hits you does not have enough insurance to cover your injuries. UIM coverage does not pay for property damage.

Medical Payments Coverage: This coverage will pay for medical expenses up to your policy limits if you or an insured is injured in an automobile accident.

Insurance Rates

How Does the Insurance Company Determine My Rate?

The insurance company uses several things including your driving record. In N.C. points are assessed on your driver’s license for traffic violations and at fault accidents. If you have points on your license your insurance will be higher. Insurance companies also look at where you live and how far you drive on a daily basis. If you live in an urban area your rates are probably higher than someone that lives in the country.  If you drive the vehicle every day and for more than a few miles each way your will pay more  than you would for a weekend vehicle that is only occasionally driven. You will also pay higher rates for a vehicle that is more frequently stolen or for a vehicle that would be expensive to repair or replace.

Many of these factors you can’t control. You can however control whether you have points on your license. If you get a ticket you may want to consult an attorney who can very likely help you get it reduced rather than paying the ticket and having the points assessed.

What About Insurance Points

Insurance points are very real and they will cost you. In N.C.

Adding An Inexperienced Driver

How bad is the pain going to be when I add my teenager to my insurance policy? Unfortunately, it is going to hurt. I recently added my own teenage daughter to my policy and had sticker shock. The NC Dept of Insurance put out the following chart in a recent brochure. They based the rates on drivers with no insurance points.

If you have more questions, the N.C. Dept of Insurance puts out an excellent brochure on insurance laws in N.C. http://www.ncdoi.com/consumer/consumer_publications/automobile%20and%20vehicle/consumer%20guide%20to%20automobile%20insurance.pdf

Who’s Behind HB 813?

11 Friday Jun 2010

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You might be surprised to learn who is behind the push to move North Carolina from a contributory negligence state to a comparative negligence state. It’s attorneys! Primary sponsors of the House Bill are Rick Glazier, an attorney from Cumberland County, John Blust, an attorney/accountant from Guilford County, Deborah Ross, an attorney from Wake County, and Bonner Stiller, an attorney from Brunswick County.