Will Auto Insurance Pay for a Rollover Due to High Speeds?

June 25, 2019 | 139 views

Speed limits exist for a reason. At high speeds, auto accidents can be very dangerous. Just going 10 to 15 miles over the limit may cause significant damage. However, when you are going faster than this, a rollover can happen. This can cause life-threatening injuries and total your car. If this happens to you, could you file an auto insurance claim? Whether or not you can do this depends on many factors. Heres some insight to consider.

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Venbrook Companies

Venbrook Group, LLC owns and operates a portfolio of privately held insurance organizations that are engaged in business with the four major platforms of the insurance marketplace including retail brokerage, wholesale & general agent, underwriting, and reinsurance.

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Spotlight

Venbrook Companies

Venbrook Group, LLC owns and operates a portfolio of privately held insurance organizations that are engaged in business with the four major platforms of the insurance marketplace including retail brokerage, wholesale & general agent, underwriting, and reinsurance.

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Typically, a fire insurance policy pays a policyholder for the actual cash value or the replacement value of the property destroyed. But in 20 states, if there is a total loss, the amount the insurer must pay is equal to the value of the property at the time the insurance policy was issued. What happens if the policy covers a multi-building complex and one of the buildings is destroyed? The Eighth Circuit Court of Appeals recently addressed this issue. In Norwood-Redfield Apartments Limited Partnership v. American Family Mutual Ins. Co., No. 18-2618 (8th Cir. May 16, 2019)(Unpublished), the appeals court affirmed a judgment in favour of the insurance company denying the policyholder’s claim to recover the full value listed on the policy of an entire complex of buildings when only one of the buildings was destroyed. The policyholder sued its insurance carrier after a fire destroyed one of the buildings out of 32 in the complex. The insurance carrier paid nearly $3 million for the loss, but the policyholder wanted the policy limits of over $31 million.

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