Posted by Tom-FL on March 01, 2004 at 21:38:14:
Might be cheaper to fix the sidewalk.
Do you file everytime someone says I hurt You Pay - Posted by investor
Posted by investor on March 01, 2004 at 21:02:04:
Am I suppose to file a claim everytime someone tells me they fell or got hurt on my property. How do you stop this? Before long want the ins. company let me go cause I filed “to many” claims with them even though they were all frivalous suits.
Non-waiver defense. - Posted by John Merchant
Posted by John Merchant on March 21, 2004 at 12:18:46:
Do you know, that by law, if you don’t notify your liability ins. co. of any & all possible claims, they then don’t have to pay out any insurance on those unreported claims?
Oh, the insurance co. would probably pay their lawyer to defend you, but on a “non-waiver basis”, meaning they aren’t waiving their policy defense and will not be paying any J rendered against you.
Over the years, in my trial practice, this has happened to me & my clients lots of times…the ins. lawyer files his answer & sends me a copy, with his “nice” little note that he’s defending on NW basis. Because of some policy defense against his own insured, normally a “non-report”.
One day a defendant against whom I’d just recently taken a court J, called me and came into my office with a cashier’s check for $100,000, of his own (bank borrowed) money to settle the suit…all because he just hadn’t reported it to his co.!
So, no matter how costly, it’s better to call your agent on any & all claims, no matter how dumb they may sound.
And you’d also better move your RE into some other legal entity other than just your name so some claim that might result in a J against you won’t ruin you totally.