Ideally, insured drivers should have enough insurance coverage to meet the financial needs of an unforeseen accident. However, this isn’t always a reality. For this reason, it is important to have underinsured motorist coverage and to know where to turn when you are struggling to receive a payout for underinsured motorist coverage if you are not at fault for an accident.
In one case in particular, Pothitakis Law was able to obtain policy limits from both the negligent party and the underinsured motorist coverage held by the policy of parents.
For this case, Pothitakis Law Firm was approached by parents whose adult son was killed in a car accident. Their son was the passenger in a vehicle being driven by a friend. The driver of the vehicle went off the road, killing the passenger. The driver of the vehicle had extremely limited auto insurance that could pay for the damages. It was at this point that the parents of the victim asked Pothitakis Law for help.
Once on the case, Pothitakis Law found that the son was living with his parents at the time of the accident, qualifying him to be under his parents’ underinsured motorist policy on their personal vehicles.
Unknown to many Iowa residents, most underinsured policies cover family members living with the insured policy holder even if they are not listed on the policy. This means that the victim of this car accident was eligible to receive coverage from his parents’ underinsured motorist policies.
After this information was made aware to Pothitakis Law and their clients, the firm was able to get the full payout from both the negligent driver’s insurance and the victim’s parents’ underinsured motorist policies.
This situation shows how important it can be for those involved in car accidents to search out all sources of insurance coverage that could be applicable to them. Had Pothitakis Law Firm not known this law or taken the time to find the insurance policies held by the victim’s parents, the fair and right compensation would not have been given to the victim's family to take care of the monetary obligations as a result of the car accident.