Insurance premium paid to defend killer in court

Three years ago, an auto insurance claim had the whole internet in an uproar.  Which is quite uncommon, considering that most people would like nothing to do with the insurance industry.  The story comes from the family of a girl named Katie Fisher, who was killed in a car accident in Maryland.

[caption id="" align="alignleft" width="190"] Katie Fisher - image from the New York Times[/caption]

Katie was determined to be at fault for running a red light.  Katie's policy allowed for up to $100,000.00 of liability coverage.  The motorist that hit her had liability coverage of only $25,000.00.  Katie's parents tried to claim for the full $100,000.00 of liability, but did not receive it.  To receive full liability coverage, the other motorist needs to be at fault.  That is where liability coverage in an automotive accident can become confusing.  Katie's parents are still fighting to prove that she was not at fault for the accident.

So why bring up an old article that had nearly all forms of social media in a blind rage?  I feel it is very important for all of us to remember that insurance is a frustrating and confusing industry.  Most people sign a contract and pay their premiums every month without knowing the full extent of their coverages.  This is why I always remind people to constantly be in touch with their insurance agents! Wither it's automobile or home insurance, it is important to know exactly what perils would cover you.  If you add-on to your home, or purchase a new vehicle; be sure to notify your insurance company ASAP so you will have the proper policy limits!  Also be sure you have proper endorsements added onto your insurance policy.  For example, most people believe all forms of water damage are covered under a standard homeowner policy.  This is a myth!  Homeowners policies will NEVER cover any flood related damages.  So be sure to do your homework and read all of the fine print.  It could leave you seeing red one day...

This information comes from an article that was written by Ron Lieber from the New York Times; and is a very good read!  If you would like to view the full New York Times article, then please click here!