Legal Minimums Don’t Mean Much
Every state has a minimum level of insurance that drivers have to carry in order to maintain their driver’s license. This is designed to cover the basic damage that could occur if they were to get into an accident with someone. The basic problem with this is not everyone is complying by these minimums and at the end of the day the insurance minimum does not cover the costs necessary to finish extensive repairs if that winds up being necessary. You might wind up needing lawsuit cash just to cover the basics of managing your case to begin with.
Bad Insurance Means Longer Wait Times
Insurance companies that do not fully cover drivers often have poor service as well. Your repair shop might not want to work on your car until they know they are going to get paid for their work . This is not unreasonable, but it does mean you will be without transportation for a while unless you want to invest in lawsuit funding or pay out of pocket to get your car back. Unfortunately this can also be a problem because then you have to convince the insurance company to reimburse you which starts the haggling process all over.
No Insurance makes it Tough to Sue
People who don’t have insurance usually can’t afford to buy a policy. So if you get into an accident you could invest a lot of legal cash trying to get what is due to you, but if the defendant can’t afford to pay there is nothing you can do about it. You will have to take a lower settlement which will not cover your repair bills or the medical expenses that you are trying to deal with on your end.
Driving without adequate insurance is illegal, so if you get into a driver that is in this position it could mean that they will need to face charges. This can be worse if the driver had a suspended license or other legal issues on their record as well. You could wind up needing lawsuit funds to retain your lawyer while you sit around and wait for the defendant to be available for your case. This means more money out of pocket for you with even less of a chance that you’re going to be reimbursed, putting you in a risky situation.
If you like to know if we can help you with a legal funding, fill out our online application or call toll free us: 855-FUND-YOU / 855-386-3968
.:About the author:.
James Sheridan is the Contracts Manager at Pegasus Legal Funding LLC and is responsible for the final stage of the funding approval process. James focus and priority is delivering to PLF’s clients the funds they need as quickly as possible