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What are basic automobile insurance coverages?
Liability - pays damages due to bodily injury and property damage to others for which you are responsible.
Collision - pays for a covered car that is damaged by collision with another object, a deductible is required
Med Pay - pays medical and funeral expenses for bodily injury to a covered person sustained in a car accident
UM/UIM - uninsured motor vehicle coverage pays bodily injury damages when an insured is injured in a car accident caused by another person who does not have liability insurance. Underinsured pays damages when an insured is injured in an accident caused by another person who has liability insurances whose limits are less than the insured’s limits for this coverage
Umbrella - personal liability policy provides additional liability coverage for car, home, boat and recreation vehicle, usually offered in one million dollar increments
Rental - pays a certain amount when a car is rented while a car is not drivable due to a loss covered under collision coverage
Towing - pays for towing of a car up to a certain amount
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What is the minimum amount of auto insurance I can get in North Carolina?
North Carolina law requires us to carry a minimum of $ 30,000 per person $60,000 per accident for liability for injuries we cause.
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Is this enough insurance coverage?
This is not sufficient to protect our assets. For example, if you cause an accident and the other person(s) are seriously injured, your insurance is only required to pay $30,000 for one injured person or $60,000 for everyone in the vehicle(s) you hit. If there are extensive injuries, the hospital bill alone could exceed your coverage protection, subjecting you and your family to a potential judgment for excess bills, exposing your personal assets and real estate.
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What is medical payment benefits?
Med Pay is a policy that you can purchase with coverages from $ 1,000 per accident up to $ 100, 000 for you or any family member using your automobile. It also covers you if you are hit by an automobile by another person or any way connected with "an automobile". You can collect payment of your medical bills up to the amount of your coverage, and it cannot affect your insurance rates by North Carolina law.
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What is Uninsured/Underinsured insurance?
UM/UIM protects you or your family members if the at -fault vehicle has no insurance or sufficient insurance to cover your injuries. To protect yourself you need a minimum of $100,000/$300,000 in coverage. More and more we see clear liability from the at fault party but minimum or no insurance by that person. A typical cost with UM/UIM to protect yourself for $100/300 is only about $20 for six months for a driver with no points, single-vehicle rate policy. This is an inexpensive way to protect your family.
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Who should I call if I have questions about my insurance coverage?
Contact your agent.
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What should you do if you are injured while working?
You should report the incident to a supervisor or human resources as soon as possible. Do not wait until you decide whether or not you need to file a workers compensation claim to alert your employer. Certain reporting delays can preclude you from receiving any benefits.
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What are workers compensation (WC) benefits?
Generally speaking, WC is an insurance system created by the State legislature that pays reasonable medical expenses and part of your lost wages for qualified individuals. Please note that as a general rule, you must seek medical treatment only from the physicians and/or facilities that have been approved by your employer and/or the insurance carrier. There may be instances in which you are entitled to a second opinion from a doctor of your own choosing but you should consult with an attorney for such information. WC may also cover an amount for necessary medical and/or vocational rehabilitation. You may also be entitled to an amount for permanent injury or disfigurement. WC is not general health or accident insurance and does not pay amounts for pain or suffering. WC will not compensate you for an injury if you were under the influence of drugs or alcohol AND the intoxication caused the accident.
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Who is covered and do you qualify?
If your employer regularly employs 3 or more people OR if you work for the State, a county OR a city or your employer has purchased WC insurance OR you work for a construction subcontractor, then you are probably covered.' If you have been injured by an accident and the accident arose out of the employment and was within the course and scope of your employment, then you may be entitled to benefits. If you suffer from an occupational illness or disease then you may be entitled to benefits as well.
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Who should I contact if I have been injured on the job and have questions?
Your health and ability to earn a living are serious matters. If you are injured on the job and have questions about the WC system, qualification, or the benefits to which you are entitled, you should consult an attorney. Initial consultations are usually free of charge.
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What should I do if I am contemplating divorce?
Pay attention to your family finances during your marriage: Without knowledge regarding your family’s income and assets, it will be more difficult for your attorney to advise you properly. While financial information can be obtained though legal means, you will help yourself by having a firm handle on this information.
Seek legal consultation sooner – not later: It seems as though married persons are sometimes incapable or unwilling to assess their own marital situation objectively as he/she may be too close to the fire. An experienced family law attorney will be in a much better position to assess your situation and advise you properly. Effective planning prior to a separation can pay huge dividends and make your life easier down the road.
Gather important financial documents: As your lawyer is bound to ask you various questions regarding your finances, you would be well-advised to make copies of important documents like tax returns, bank statements, credit card statements, retirement information and deeds to real estate. Bring these documents to your lawyer’s office.
Ask your attorney whether it would be advisable to hire a Private Investigator: In certain instances, evidence of your spouse’s infidelity might be important to your case and situation. However, it is important to consult an attorney before investing in a Private Investigator.
Consider the impact upon the children: When children are involved in a separation and divorce, parents should place the interests of the children at the forefront. Parents should try to maintain family routines and continuity to the extent possible and ensure that both parents are allowed quality time with the children on a frequent and regular basis.
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What are some differences in traffic convictions?
A conviction of speeding as low as 1 mph over the limit in a 55 mph zone carries 3 driver license points and will result in either a 45% insurance surcharge or no insurance increase at all, depending on the driver’s prior record. Meanwhile, conviction of Exceeding a Safe Speed carries only 2 license points but will always result in a 25% insurance surcharge, no matter the driving history. As another example, even with no prior record a single conviction of speeding 76 mph in a 65 mph zone can result in a revocation of your driver license, while multiple convictions of speeding 55 mph in a 25 mph zone will not.
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Should I pay my traffic ticket and court costs instead of appearing in court?
Some traffic charges may be resolved without appearing in court by simply paying the standard fine and court costs to the clerk. However, this is rarely a good idea; often such action will result in a significant increase in your insurance costs, and even a revocation of your license. Also, many times a ticketed driver is provided information about how to dispose of the charge by attending a driving school. However, while there are certain circumstances where this may be an appropriate disposition, often times the resulting prayer for judgment continued ("PJC") is instead a bad result. Even if a PJC is an acceptable result, many times there are better results available that would not require the cost and inconvenience of the school and would preserve the PJC for later use.
Unless you know the law and the court system well, do not assume that a "simple" traffic ticket equals a simple court case.
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If I want to start my own business, should I incorporate?
There are three reasons why you might want to incorporate your small business. First, if you have one or more partners, it is advisable to own a business as a corporate entity. Second, a corporation will limit your personal liability for contracts entered into on behalf of the business and for negligent acts by employees of the business. Limitation of personal liability is the primary reason most people incorporate. Finally, some tax advantages may be obtained by operating your business as a corporate entity. Each particular type of business has its own tax issues, and you should consult your accountant as to whether incorporating your business could gain you advantages on your income tax.
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What form of incorporation should I use?
In North Carolina, there are two main forms of corporate existence. The traditional form is a "corporation". Most people who incorporate their businesses use this form. Under IRS rules, an incorporation may be an S-corp or a C-corp. An S-corp pays no taxes itself. It is a "flow-through" entity. This means that all of the income (or losses) of the corporation "flow through" to the individual shareholders. S-corps can only be owned by individuals, and cannot be owned by other corporations, trusts or other entities. They can have many tax advantages for their owners depending on.
The other type of entity used by many small businesses is the "limited liability company". A limited liability company is also a "flow-through" entity. The limited liability company (or LLC) does not pay taxes on its income, but passes the profit (or loss) through to its owners. Unlike subchapter S corporations, limited liability companies can be owned by other companies, trusts or corporations. Limited liability companies are frequently used if the company is going to own or trade real estate.
The decision to form a business as a subchapter S corporation or limited liability company should be made in consultation with both your attorney and your accountant. They can guide you as to the best form of business entity for your particular needs.
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Should I try to incorporate my own business?
In most cases, this is not advisable. The costs to incorporate your business are relatively small compared to the costs to you and/or your business if the corporate work is not handled properly from the start. If you fail to observe the proper corporate formalities, your corporation may not be valid as against a creditor. Also, if more than one owner is involved, an attorney can create a "Shareholders Agreement" which will control the parties' rights and responsibilities in the event one shareholder dies or wishes to leave the business. It is much better to have this type of arrangement decided on the front end when the parties are friends. All in all, the money spent for an attorney's advice in an initial incorporation is money well spent.
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What are medical malpractice caps?
Because healthcare insurance has risen, a huge cry has gone out to set caps on so called non-economic damages that may be awarded for pain and suffering on malpractice claims. The classic number is $250,000.00. The issue is however, whether the rise and cost of healthcare can be attributable solely to malpractice suits or more specifically the amount of the awards.
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Are medical malpractice cases the reason there is a rise in healthcare?
The Wall Street Journal recently published an article stating that 57% of all malpractice trials involve some sort of permanent injury to the Plaintiff and 33% of the trials involve a death. In 2001, a study was held that reported that the Plaintiffs who are the victims, win awards only 27% of the time. This same statistic has been true for the last decade. Only 4% of these awards represent payments as the result of jury verdicts, resulting in many of the cases being settled in advance of an actual trial.
The facts are that only 2% of healthcare spending was accounted for by malpractice costs and the average payment for damages on behalf of negligent physicians in malpractice cases was $150,000.00
In many cases, insurance carriers have taken a "roll of the dice" approach to let a jury decide the issues or merits of the case. In most instances, the dice turns up favorable for the healthcare providers and their insurance carriers.
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Do I have to have an expert to testify on my behalf before I can file a medical malpractice suit?
In North Carolina, before any action can be filed for a malpractice case against a healthcare facility or a doctor, Rule 9J of the North Carolina Rules of Procedure requires that you have a doctor willing to testify as to the negligence of the offending doctor or hospital. This precludes many suits and an opportunity for many people to have even a jury trial to decide what is fair. Insurance carriers cite "runaway verdicts" in the millions of dollars stating that the rates of the doctors liability insurance are increasing due to these few cases. The truth of the matter is that only a minority of actual settlements are publicized because they insist upon non-jury verdicts confidential.
