A major aspect of any car accident is dealing with insurance companies. There are many different policy provisions and protocols that you may need to review to ensure that you are making your claim appropriately and that you receive the coverage that you deserve. Even if you are doing your best to follow all of the proper steps, insurance companies usually don’t have your best interest in mind. This means that they will try to do whatever they can to avoid paying you the coverage that you deserve. The dedicated Boston car accident lawyers at the Law Offices of Michael O. Smith are prepared to help you assert your rights to the fullest extent.
A recent case discussed the application of an underinsured motorist policy and the arbitration provision included in the insured’s policy. The plaintiff suffered injuries in a car accident and eventually obtained a settlement for the amount of that driver’s policy limits. The plaintiff’s insurance company was not a party to that settlement but provided consent to it.
The plaintiff then sought underinsured motorist coverage from her insurance company, which invoked the arbitration provision in the plaintiff’s policy. Arbitration is a form of dispute resolution in which the parties agree to let a neutral arbitrator resolve the matter. The outcome of an arbitration is binding on the parties in the same way that a court judgment is binding.