What is the name of your state? Ohio
My husband and son were in an accident in which the other party was cited for failure to yield. Our work van for my husbands contracting business was totalled and several tools were destroyed. This was a month ago today. We have not received a settlement offer because the insurance company says the other party has not admitted liability and they have to do a full investigation. Due to the cut and dried nature of the accident, we involved our state dept of ins. My husband talked to them today and due to this person having state minimum high risk ins. We can only recover a certain amount. Her property damage limits will easily cover our van and tools. What I am wondering is under what type of coverage is lost wages/temporary shut down of our business covered. Is it property because that is the main cause. We have small medical bills for minor injuries as well. This would account for about a week and a half of not being able to work, but the lost van and tools are what really affected the lost wages of the claim.
I would also like to know if the insurance company refuses or lowballs our claim, would a lawyer be taking the insurance company to court for bad faith/unfair claims settlement. Or would we have to sue their client for only their policy limits. Just want to be prepared if worst comes to worst. Hoping it won't come to that.
Thanks!What is the name of your state?
My husband and son were in an accident in which the other party was cited for failure to yield. Our work van for my husbands contracting business was totalled and several tools were destroyed. This was a month ago today. We have not received a settlement offer because the insurance company says the other party has not admitted liability and they have to do a full investigation. Due to the cut and dried nature of the accident, we involved our state dept of ins. My husband talked to them today and due to this person having state minimum high risk ins. We can only recover a certain amount. Her property damage limits will easily cover our van and tools. What I am wondering is under what type of coverage is lost wages/temporary shut down of our business covered. Is it property because that is the main cause. We have small medical bills for minor injuries as well. This would account for about a week and a half of not being able to work, but the lost van and tools are what really affected the lost wages of the claim.
I would also like to know if the insurance company refuses or lowballs our claim, would a lawyer be taking the insurance company to court for bad faith/unfair claims settlement. Or would we have to sue their client for only their policy limits. Just want to be prepared if worst comes to worst. Hoping it won't come to that.
Thanks!What is the name of your state?