What to Expect in an Injury Settlement with Fred Loya Insurance
If you are attempting to settle a personal injury claim with Fred Loya Insurance, you may be in for an uphill battle. Fred Loya is one of the largest insurance firms in Texas, with more than 100 offices in the state and an annual revenue of over $500 million.
This insurance giant did not become such a profitable company by giving out generous settlements to those who file claims against it. Therefore, you may need to be aware of some potential problems if you are in the process of settling an injury claim with Fred Loya.
If you’ve been injured and need help dealing with Fred Loya Insurance, the Fort Worth car accident attorneys of Zinda Law Group can help. Call us today at (800) 863-5312 for a free consultation with one of our knowledgeable Fort Worth car accident lawyers.
What Is Nonstandard Insurance?
Fred Loya Insurance often markets competitive rates to drivers who are considered “high-risk” or who otherwise might not be insurable by other auto insurance companies. A driver may be deemed high-risk for a number of reasons, such as a history of accidents, a prior DUI charge, excessive speeding violations or traffic citations, young age, living in high-risk driving areas, or even just because their car is built for speed or racing.
The type of insurance these drivers receive from Fred Loya is called “nonstandard insurance,” and usually only provides the bare minimum to its policyholder. Often there is no personal injury protection, uninsured motorist, or underinsured motorist coverages, so that the cost to the insured can remain so low. If you are involved in an accident with a driver who has nonstandard insurance, their policy will probably not be large enough to cover your expenses.
What Is the Named Driver Exclusion?
Fred Loya often includes the named driver exclusion in its nonstandard insurance policies. If a driver is named as an excluded driver in the policy, that person will not be covered by Fred Loya if they are driving, regardless of whether they have permission to use the car or not. This often excludes minors or other high-risk drivers in the family from being covered. If an excluded driver borrows the vehicle and gets in an accident, Fred Loya will void the insurance coverage.
Payment of Claims by Fred Loya Insurance
Although Fred Loya might have the ability to provide fair compensation for personal injury claims, the company doesn’t always do so. In fact, if you find yourself involved in a settlement with Fred Loya, the company might not even provide you with enough money to pay off your medical expenses. The insurer could even issue a denial based on the named driver exclusion or because of their own client’s lack of participation in the proceedings.
Our Fort Worth Car Accident Lawyers Can Help
If you aren’t making headway with Fred Loya or if you’re anxious about negotiating with a large insurance company, you don’t need to face these problems alone.
At Zinda Law Group, our Fort Worth car accident attorneys have taken on insurance companies of all kinds, and we can help you seek compensation for medical bills, lost wages, property damage, pain and suffering, and more.
Call us today at (800) 863-5312 for a free consultation with one of our Fort Worth car accident lawyers. Meetings with attorneys by appointment only.