A friend was crossing the road on a crosswalk and hit by a car. Hospital for two weeks, couldn't walk for eight, several broken bones, traumatic brain injury - has been a slow and difficult recovery.
Police report clearly put the driver at fault, we hired a PI attorney. The driver's insurance immediately settled for the full amount - $100k. But between multiple surgeries, lost income, round-the-clock care from friends, and permanent, irreparable harm, the damages are far greater than that.
We quickly found out that the driver owns their own home in a very expensive city. The attorney also discovered that they frantically took out an umbrella policy after the accident (too little, too late). I don't take any joy in this, but we need more money to pay for medical bills and long-term treatment and are pursuing the driver for the difference.
Just wanted to share this as a cautionary tale. If you've been working for years and have significant assets, you need to make sure that those assets are protected. You can get a $1M umbrella insurance policy for $200-300/yr, which will protect you in a situation like this. The same is true for natural disasters - don't be caught flat-footed and risk losing your house because you were unprepared.
Submitted June 21, 2021 at 02:14AM by Remote-Garlic5449 https://ift.tt/3zJO8rQ
