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The Unknown Villain in The Insurance Industry

April 13, 2013

I see plenty of advertisements, to include television, radio and print in which the insurance industry is portrayed as the evil villain who only wants to “trick” people in settling their claims for much less than it is worth. As you have probably heard, a “superhero is only as good as his foe.” Although, insurance companies in some cases may display harsh tactics, the real “villain” however in a lot of cases is the minimum insurance coverage available or worse yet, no insurance coverage at all. I heard a statistic recently on “television” that revealed “1 out of 5 cars involved in accidents, were not insured.” Remember, for the most part, automobile insurance coverage applies to the vehicle, and not specifically the driver.

Again, the real “villain” is finding out you or a loved one has been seriously injured in an automobile accident, and it is expected that the damages are going to be in the hundreds of thousands of dollars, and the offending driver and automobile are only insured for $25,000 (the minimum required under Virginia law) or worse yet, have no insurance at all. Simply put, it is much easier and more practical to get compensated for your injuries from the insurance company than it is trying to go against the assets of an uninsured driver. Unfortunately, the lack of adequate insurance coverage applies equally to wrongful death claims.

You may not be able to do anything about the motorists out there who are driving vehicles with no insurance or minimum limits of $25,000, however you can take action to protect you and your loved-ones, by talking to an automobile insurance agent about underinsured/uninsured coverage. Specifically ask the agent if you have underinsured/uninsured coverage; if you have underinsured/uninsured coverage inquire about increasing the amount of your underinsured/uninsured coverage on your policy; inquire about med-pay coverage; and finally, inquire about getting an umbrella policy.

I promise you, the next time you or a loved one is in an accident you will be relieved to know the offending driver and/or you were covered by enough insurance coverage to properly compensate you or the loved-one for the injury. At least under those circumstances you have a fighting chance to get a favorable result, because if there is no or inadequate coverage, not even Superman can overcome that kryptonite.

The author Derrick Thomas is the Principal of The Thomas Law Firm, PLLC. Call Derrick at (804) 352-6867, e-mail him at or visit the website to discover how Derrick can assist you or a loved-one with your personal injury or wrongful death claim.