Accounting For Insurance Claim Settlements

18 Feb

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Insurance is a necessity in any company. Organizations cover themselves against losses such as fire, theft and unexpected normal disasters. It is with the bookkeeping or accounting that owners get it incorrect.

On effective insurance claims, a payment is commonly produced to the insured. My encounter has led me to feel that tiny organizations have no clue, as to how, to account for insurance settlements. Most firms reflect the payment as income.

Not only would this be deceptive but also violates International Accounting Standards. Given that the transaction has anything to do with assets and nothing to do with revenue, it ought to be adjusted against assets. Erroneous accounting for assets may possibly prejudice the company additional in future, if equivalent insurance claims are produced.

Insurance businesses settle claims on assets, on its book worth and not its charges. (And yet the asset was insured on its expense at date of buy). Whereas this principle may well differ from country to country, book value is extensively accepted as the norm. Considering that most tiny organizations fail to preserve suitable fixed assets registers, insurance companies carry out “desk best valuations”, or make an “estimate”, on the book worth, mainly significantly reduce than its “actual” book worth. Without correct records, the claimant can’t debunk the assessor’s final conclusions.

Before I loose you in a sea of confusion, let me elaborate. If an asset is on your books at least, with out the asset register, but you have no obtain date, and this asset is lost due to theft, no precise put on and tear can be furnished. Additionally, if a claim is settled, and reflects as “revenue”, what occurs to the asset that was stolen, but still reflects on your books?

Many reading this write-up could not care a hoot about the quantity crunching involved, but please keep with me for a minute. You might not care, but an investor, a bank and yes, the insurance firm may possibly choose this up on your economic statements when they demand your reports.

The technique utilised to account for insurance claims is the “disposal technique”. Any asset topic to an insurance claim must be transferred to a “Disposal Account”. Depreciation on the asset for the relevant period is calculated, and credited to the disposal account with the insurance settlement. The price, significantly less depreciation equals book worth. Any settlement amounts more than or underneath book worth, will result in a loss or profit on disposal.

An insurance claim, wrongly entered as “revenue”, can be adjusted by transferring the amount to the disposal account. Right after effecting these entries, the disposal account ought to balance to zero. Your new records would reveal, the loss or profit on claim (income statement), settlement in bank account, fixed assets much less the stolen/lost asset, and a decrease depreciation estimate for the year.

I acknowledge that this is your accountant’s job, you however have a duty to offer precise records. But how many firms continue to spend, the very same insurance premiums on the assets, since acquire date, when they, entitled to a reduce premium, due to a reduce asset value.(prior to any asset losses).

Also, a precarious asset circumstance in your books, may possibly lead to troubles in your tax affairs.
No business can afford a pay a visit to from the IRS. Did you know that tax authorities constantly commence auditing, your assets, ahead of they move on to your earnings?

49 Responses to “Accounting For Insurance Claim Settlements”

  1. Enrique February 14, 2013 at 9:08 am #

    If I am looking for a home, are there any records that can my real estate agent check to determine if any type of insurance claims were made on the house? For example, roof replacement, water damage, fire, other structural.

  2. Dana March 14, 2013 at 2:35 pm #

    Hey Guys,

    I was in a car accident November 18th of last year. I hired an attorney in January and I have a good case. It seems like it’s taking forever for me to get the money that is rightfully mine. How long do these kind of cases last and when should I expect my claim to be settled? I need the money now so I can start my life. Is there any way to speed up the process and also, could I get loans from my lawyer if he KNOWS I am getting a big settlement? He says he’s just waiting for Geico to settle. I am really growing impatient and I need the money ASAP.

    Thanks in advance!
    Star
    It’s being settled outside of court. He says the claim is now up to 30k. Also, my attorney said that he’s faxed them a letter and he’s waiting on their response. I think that’s about as far as it is right now. We’re just waiting for the insurance company (Geico) to settle… how long do these guys take!?

  3. Miquel March 14, 2013 at 6:32 pm #

    ‘m doing a class presentation my topic is Feminist challenges to criminology. It will be really appreciated if you guys tell me what you think so I can have it as a class discussion and see who will agree with your opinions. Thanks.

  4. Candida March 21, 2013 at 6:31 am #

    The “loss payout ratio” for health insurance companies is less than 75 cents for each dollar in premiums with the rest going for administrative costs and profits. How do they manage to keep their profits so high? Why hasn’t the market forced insurance companies to compete with each other and lower premiums?
    John J S: You’re thinking of life insurers (who must have a reserve), not health insurers.
    Enzyte: Where’d you make up your statistic from?

  5. Phil March 27, 2013 at 1:00 am #

    I live in the state of Oregon and am trying to decide if we should get an attorney for my daughters injuries she received while a passenger in the car of a friend of the family. It is a difficult thing. Will it go against the driver or her insurance?

  6. Sunday March 31, 2013 at 10:03 am #

    The leak was just below the main inside stop tap, I switched the water off in the street when I noticed the leak.

    It has broke my tiles and dripped into downstairs, the insurance company said this is two claims so would be excess of £250 * 2. I simply don’t have that money. Would they be able to pursue me for anything?

  7. Suellen April 4, 2013 at 1:39 pm #

    How long does it take to get your money and how much is usually the lawyers take?

  8. Milda April 13, 2013 at 11:21 am #

    I was rear ended this morning and I filed a claim with the insurance company. The damage was to the rear bumper, but now my doors rattle and the vehicle rattles whenever the air compressor for the rear air bags come on.

    Will they take into account all of these things? and if so, do they have it fixed for me, or do they give me a check and I fix it myself?

    Sorry, first accident so don’t know the procedures.

    thanks in advance for any info

  9. Jude April 20, 2013 at 1:36 pm #

    i need to write an essay on it 200-250 words,need some good ideas!!!

  10. Golden May 1, 2013 at 9:13 am #

    I have a 1993 Nissan NX which was in a decent condition and never gave me any problems. Recently it got rear-ended. The other party’s insurance took the responsibility and asked me to get an estimate. The estimate says the repair costs are about $5000 and the mechanic thinks the insurance company will buy the car from me. What price would they pay me for the car?

    I am a student and wasn’t planning on buying a new car. What price should I be happy with. I paid about $2800 8 months ago for the car. Would they be willing to negotiate. If yes, how do I negotiate?

  11. Jacquelyn May 7, 2013 at 3:56 am #

    Gambler caused 135k worth of credit card debt. Is in ga now and in therapy. I don’t want to get in deeper trying to fix this? what is the best direction to go from here.

  12. Rodney May 14, 2013 at 5:34 am #

    if someone has life insurance and does not have his/her spouse as the benificiary but has “estate” as the benificiary what does this mean?

  13. Diego May 17, 2013 at 9:00 am #

    So, I want to start a new computer business, with low prices.
    I’m confident I can do all the basic jobs and several advanced jobs, like building computers, etc. I’m 16 years old, and I haven’t taken any classes on computer or anything. I’m going to be working with a friend that’s pretty advanced on computers also. I want to know what would be good way to start, how to start getting customers, etc.
    I also took general business as an elective in school.

  14. Mahalia May 20, 2013 at 4:47 am #

    I recently lost my Kyocera Hydro Android Smartphone that I use through Boost Mobile. I have a pending insurance claim, but while waiting for the replacement, I activated a temporary phone on my Boost Mobile account. The new phone is a Samsung Galaxy Prevail Android Smartphone. Upon activating the new phone, I entered my gmail account information. About 30 minutes later, all of my phone contacts showed up and then several minutes following, my calendar synched. However, my photos have not synched. Can you please tell me if I’m doing something wrong or if its even possible to retrieve the photos from the lost phone? These pictures are extremely valuable to me.

  15. Waneta May 21, 2013 at 9:46 am #

    I suffered an accident at work four years ago. I made a major mistake when it happened. Instead of gong straight to my HMO, which would have provided me back surgery immedately, I went to the company doctors. I believed that since the injury occurred following my immediate manager’s instructions, it would validate that my injury was real. Well, well. Even though the physicians the company insurance carrier sent me to all agreed my injury was valid and caused while performing my duties, my Workers’ Comp case was denied, my short term benefits were terminated and my health insurance ended. Since I only had State Disability benefits to live off of, my credit was destroyed. The final insult was when my company informed me that if I did not return to work on a given date, regardless of doctor’s findings, my position would be terminated. I was devastated because I wanted to work at least six more years before retiring. Fortunately, I was fully vested for retirement and took my entire pension amount of $268k out and placed it into IRA’s. My first filing for Social Security Disablity was, of course, denied, but as I was a manager for 10 years at a SSA office after college graduation, I knew how to appeal and now also receive a monthly benefit of $1896. I am not married and have no children. I pay rent of $950. monthly for a rather large house and have no interest in buying a house as I have no living relatives to leave it to. I am 62. I also just was awarded a Workers’ Comp settlement of $150k and my lawyer is also filing an Unlawful Termination claim, which I no doubt will win. But, as I stated my credit was, and is, still ruined, my last score was 613. Since I retired, I have paid cash for everything. New car, trips overseas but I have no credit. My funds are in my credit union and offers only a debit card, which because of my cash on hand, is no problem. A friend suggested I open a secured credit card elsewhere to begin to restart my credit. I feel however, that the price of having such a card would not be worth it. I recently bought my girlfriend a car which cost $19k and I placed a $11k down payment. I could have paid cash but I will let the payments run for 12 months then pay off the balance hoping that will also help my credit. I often need,while traveling, a regular credit card so what can I do to obtain one?

  16. Hilde May 22, 2013 at 9:06 am #

    Like how do they run properly and what do each and every department need to do day in and day out.

    P.S. I would of labelled the title What does a bank do but it was to short.

    Thanks

  17. Raymond May 23, 2013 at 12:56 pm #

    About 20 years ago my husband won a settlement lawsuit for lead paint poison. At that time he was a kid and his mother was the trustee of the account. Well she was on drugs at that time (and still is), and she doesn’t have any of the paperwork or she claims she doesn’t remember what life insurance company the payments were being structured out of. What is the first step we should take to find his money? The settlement was for about $89,000. Can anyone help?

  18. Jacquline May 30, 2013 at 10:23 pm #

    If so where can one find a listing for the various states? This was a news story on the local News here in south-east Washington state, not just some gossip.

  19. Tad June 18, 2013 at 10:29 am #

    Son hit from behind and suffered head lacerations (25 stitches) and post concussion symptons. Truck totalled and he could not drive for 30 days following accident due to dizziness. Grades suffered for honor student who is graduating senior. I just want to make sure the insurance company pays the maximum amount to cover potential future problems. I have not retained an attorney yet.

  20. Mariette June 21, 2013 at 12:36 pm #

    I am a US homeowner. Instead of refinancing, I wanted to explore the possibility of a reverse mortgage.All I have seen so far is that this is only good for homeowners aged 62 or more. Is there a company that provides reverse mortgages for those younger than 62?

  21. Siobhan June 22, 2013 at 1:29 pm #

    I don’t have any assets, I don’t have a job, I have about $30.00 in my checking account. I paid an attorney $2,500 and all but $350.00 of that is gone, with NOTHING to show for it. I don’t have anymore money to pay him and I cannot afford to go back to South Carolina to defend this if it goes to court. I offered to help out with some of their legal fees if they would drop the case. I told my attorney this on June 28th. He did not talk to their attorney until August 8th and he hasn’t called back. Their attorney is now asking for a Request to Admit, what is that and why are they asking for it. What can I do? What happens if this goes to court and they get a judgment? Can they enforce that in Texas. How do they enforce it in Texas? Do they have to hire a lawyer here? I am really scared. My lawyer is being a jerk, all he cares about is the money. I need some help and some advice on all of this, PLEASE HELP ME!!!!
    Here is what the basis of the lawsuit is all about. The woman who filed the lawsuit WAS my neighbor. First of all let me assure you that all of this occurred in an upper middle class neighborhood, not a trailer park. She allowed her daughter to be sexually abused for 3 years by the girl’s stepfather. The daughter finally went to her high school guidance counselor, who called the cops. The stepfather plead down to HAZDAM (sp?) and got probation. The mother picked the stepfather over the daughter and at 20 the daughter had no where to go. My finance’ and I took her in and she has become a part of our family. All of this happened in 2004. The daughter has filed a lawsuit against her mother’s insurance company. 2 weeks after her mother was served, I was served with this lawsuit claiming that I physically abused her and her son (A LIE) and that I made her yard unusable, but it took her 2 years to file this suit. They claim that they paid their attorney 7,500 to take this case.
    They want me to pay those attorney fees. I don’t have any money to do so. I only worked part-time in South Carolina and I don’t work at all in Texas. I moved to Texas to get away from these people. I had to leave my son, quit my job and leave family and friends just to feel safe. In the last 6 weeks I filed 3 police reports because of them. I received an email that looked to come from the mother’s work email signed by her husband threatening to burn my finace’s house down with me in it and dance in the streets.The investigation couldn’t really prove anything. My finace’ was building a house in South Carolina and I was going to stay there so my son could finish up his last year of high school, I couldn’t stand being next door to them anymore, so I left everything I loved. My deposition has already been taken so I don’t understand this “Request of Admission”. They did not check in South Carolina to see what I owned and what accounts I am on. I was on nothing and I’m on nothing in TX
    I borrowed the money from my finace’ to pay the attorney in SC and I paid him back. Now that I am not working, I have no way to borrow money from him to give my attorney further money. My deposition took a little over 2 hours and my lawyer charged me $500 for being there, he also charged me $230 for a copy of my deposition. I have no means to continue to pay this. It was their idea to settle this case and they offered to settle at the deposition 3 different times. I didn’t have $7,500 at my disposal at the time and said no. That was on June 26th, on June 28th I met with my attorney and offered to settle this case by splitting their attorney fees with them. It is now August 26th and there is nothing. My entire life is on hold. I want to get married, I would like to get a job and my finace’ wants to add me onto his accounts; however, I can’t do any of that until this is resolved. My attorney could care less. I don’t think he has done anything to help me. This whole case is frivilous.
    I don’t know what to do. The only thing my attorney wants to know is if I am giving him move money. I can’t stand him, I was referred to him and thought he was good. He has said from the beginning that this case was “junk” his words; however, he has done nothing to get it dismissed or anything else. I am being punished for taking in a sexually abused child. The abuse started when the daughter was 14. We have become her family, she tells everyone that we are her parents. We help support her and we call her our daughter. I can’t afford to fly back to South Carolina if it goes to trail. My attorney told me from the beginning I was “judgment proof” but I am still involved in this nonsense. I am scared that they may try and come back and include my finace’ in this. My attorney says they can’t, I am not sure what to believe when it comes to what he knows and doesn’t know. What kind of coast are they looking at to find me in Texas? What can they get if they win their case in SC?
    Can this be dismissed? Does anyone know an attorney in South Carolina that would take this case on pro bono? It is a waste of everyone’s time especially the court’s. I moved across the country to get away from these people. I am the phone that has suffered, not them. My son is living with his dad and I will rarely get to see him until he graduates. I have ALL the court papers including the stepfather’s papers. We have been approached by a couple of talk shows so we can tell our stories on national television. We would love to have an attorney to go with us and be on our side. I hope this helps all of you give me an answer on what to do.
    I REALLY NEED SOME MORE HELP WITH THIS. I HAVE PROVIDED MORE DETAILS, PLEASE HELP ME WITH WHAT I SHOULD DO.

  22. Olivia June 22, 2013 at 8:01 pm #

    I was involve in a auto accident in June 2006. My case was settle in 2007. I just received a past due statement from my doctor stating my attorney didn’t pay the medical lien. It now been 5 years and this is the first time the doctor has contacted me regarding an outstanding balance. Does the statue of limitation 4 years apply? Can the doctor office turn my account over to a collection agency? Can I take any action on the attorney for keeping the settlement? I am legally responsible for the medical bill. Please advise. Thank you

  23. Estefana June 25, 2013 at 9:36 pm #

    I want to claim insurance for a person who has expired due to accident. Which indian bank accounts have insurance included, can anyone help???

  24. Judi June 28, 2013 at 7:30 pm #

    I had a car accident when I was 6 years old. I know exactly how much is in the insurance claim account and on what interest it is on, but i’m not sure when I am able to access this money, my first thoughts are either 18, or 21…does anyone know?

    Thankyou man.

  25. Warren July 6, 2013 at 4:14 pm #

    I’m an accounting student and I was thinking about this the other day and our text does not cover this. Do you have to report insurance money as taxable? That is if you are in an auto accident and your insurance company sends you a check do you have to report that in income or some other area, or is it exempt? My other question is if you take the insurance money’s recieved and loan it to someone and they cannot pay you back can you still claim for a nonbuisness bad debt deduction and deduct the 3,000 a year until it is absorbed?

  26. Teena July 8, 2013 at 5:54 pm #

    I am settling two insurance claims. The companies say I must do a Medicare set-aside and not be able to keep my money. What is it? Is it a tax for Medicare on settlement? Do I legally have to do it?

  27. Kevin July 8, 2013 at 5:54 pm #

    I have a Facebook, though I do not have it tied to my workplace in any way. It’s listed as private through and through, so no part of it is accessible to folks outside my friends list.

    I DO NOT have my workplace listed as a company on my facebook, nor do I ever mention or talk about working for said company.

    I DO NOT have any coworkers listed as friends, and do not socialize with them outside of the work place. I keep the two very separate.

    Recently I received a call from our corporate office, demanding I remove my facebook and delete my account because a picture that I have sets “a bad image for the company” and is”violent and vulgar.” It was a picture of my new handgun, which I took training courses for, and is registered and licenced to me.

    Since it is my personal media page and is not in any way used to represent my workplace or in any way connected to it, can they legally tell me to remove myself from the social networking site?

  28. Quincy July 10, 2013 at 11:50 am #

    I was in a car accident, and I settled. The insurance company sent me a letter about a week and a half ago stating that they sent the check to my lawyer already. I spoke to the case manager (not my lawyer) and she claimed that they hadn’t received the check yet. She said any day now… what is the hold up? I think they got it. The check was sent from the same damn state… We got our letter saying that it the check was forwarded to the lawyer, how come they are saying they have not received it?

  29. Siobhan July 16, 2013 at 8:49 am #

    Going through an awful divorce. My soon-to-be ex wife had to leave the marital home and I’m living there with our sons. I was given the right to change the locks and she isn’t supposed to come to the house without prior written consent.

    The house was burglarized a couple of weeks ago. It’s a long story, but let me say that we KNOW it’s her. There isn’t enough hard evidence to actually get a search warrant, etc., but we all know she did it. Of course, my ex denies everything.

    Met with the insurance investigator over the claim that will total ~$10,000. She also believes it’s her but knows that there is no hard evidence.

    Because my ex is also on this policy, might the insurance company say that I can’t claim the loss because this stuff is not stolen but just being held by one of the insureds? If there isn’t enough evidence for the police to act, can the insurance company just say that the “think” this and deny my claim? If they do, is their recourse for me regarding that decision?

  30. Jamison July 17, 2013 at 10:38 pm #

    I am working with a private MNC company in Noida.
    on 20-02-13 (Bharat Bandh) I came to office as per office timings instead of the Bharat Bandh declared by opposition party and on the same day my car (personally owned), was completely burnt out in company premises.
    now for claim settlement the surveyor is asking for superdari what does that mean. and got to know that on behalf of something you can go for superdari.
    need to know:
    1. What is actually superdari? how can i go have it?
    2. after discussion with the company they are providing the superdari ? is it good to take the superdari from them ?wouldn’t be any problem from the company if i left the organisation or at the time of leaving?
    3. should i ask the company on which grounds they are providing the superdari before taking the papers?
    4. lastly, am i eligible for any compensation form the company as per law? if yes for the proofs or documnets i have to collect?

  31. Stan July 19, 2013 at 5:18 pm #

    I left my old job before 4 years, till date i could not withdrawal PF Amt from old Pf A/c due to some reason ,Can i withdraw the all amount from my old pf a/c after 4 years ?

  32. Phillip July 20, 2013 at 1:27 am #

    I’ve never received a single bill in the mail or a phone call for this hospital payment until today when I received a credit collections bureau payment in the mail. The payment has developed interest. I am beginning to think the hospital had the wrong address for me and if that is found to be true, will i still have to pay this ridiculous interest that has occurred?

  33. Karly July 22, 2013 at 9:53 am #

    I took out phone insurance a couple of months ago and just found out the direct debits have not being going out and only found out because I need to make a claim. Do I have any rights

  34. Stan July 23, 2013 at 1:46 am #

    I am 23 and I have over 35,000 dollars in debt. I lost my job about 6 months ago and all my accounts are in default. I am afraid to go to a debt consolidation place because there are a lot of scams out there. Also, I do not even know how someone claims bankrupky. Any ideas?

  35. Lucas July 24, 2013 at 11:49 am #

    Okay, I was involved in a slip and fall accident back in December 2012. I wasn’t at fault, it was the stores’ fault, so instead of going through their insurance I went through my lawyer. Time goes on, and we finally reach an agreement on a settlement(my lawyer stated that a lawsuit could take YEARS). This agreement was reached last week, my lawyer told me “we’re waiting on the check, and agreement”, so being nosy, I found out that depending on the state the mediation is in the insurance company has “x” amount of days to send the payment. So my question is: in Tennessee how long does the insurance company have to issue my lawyer a check, so he can issue my check. Ten points for the top answer, please no negative statements, I’m not a lawyer, just need some advice! Thank you!

  36. Merlin July 27, 2013 at 8:08 pm #

    I was involved in a car accident a couple of months ago. It was a rear-ender and the other driver has admitted full liability. I am currently going through an injuries claim, as I was diagnosed with Whiplash, which lasted about 1-2 weeks for which I was taking prescribed painkillers, and ‘driving anxiety’ (not that bad). I just wondered if anyone had made similar claims, and how much money I may be looking at getting?! (Without taking into account loss of earnings, etc)

  37. Luann August 6, 2013 at 4:22 am #

    car under my name when he promised to transfer it under his. henry drove the car without proof of insurance and had an accident with Mr John.i was not aware of anything until Mr john’s insurance, sent me a lawsuit letter as the owner of the car and therefore responsible for the settlement of this claim.
    i do not know what to do that why i;m asking for your advise
    thanks, jaimesyll

  38. Deanne August 6, 2013 at 12:55 pm #

    My insurance is due tomorrow and I got into the accident today as well as filed my claim today. Can I cancel my policy tomorrow even though I filed my claim today?
    I don’t think I can afford to pay another month with the expenses of finding a new way to work every day.

  39. Aleida August 7, 2013 at 8:32 pm #

    I have it temporarily sitting in a holding account and do not know what JE to make for month-end close.

  40. Milan August 17, 2013 at 6:13 am #

    I have a personal injury claim on-going after an accident,i am 29 and i have get injections in my knee twice a year until i am 50-55 and then will need a knee-replacement.
    I am 29yrs old.
    thanks for any information.
    The injections cost £1200 a year.

  41. Arlyne August 20, 2013 at 11:52 am #

    How does that work? Can I just write the check to someone for the full amount and have them cash it for me? Or won’t I get the full balance all at once? Thank you.

  42. Humberto August 30, 2013 at 8:29 pm #

    One of my medical insurance claim is pending but since it has been under review (by the insurance company) for a long time, my Dr.’s office has sent me a recovery notice through a third party collector. My question is, is this legal by law? The claim has not been denied but they have sent me a recovery notice and want me to pay them directly. Thank for your answers.

  43. Connie August 31, 2013 at 5:53 pm #

    I recently settled my medical malpractice lawsuit, and they called me today saying i had to come in next Tues to sign a release. When i asked what that was, all i was told was i had to sign before the insurance company would give me any money. But what exactly am i releasing? I will obviously read before i sign it, but im just curious until then what it is. Also, they had told to when i settled (this past Monday), to expect a check in 2-4 weeks…is that counting from the day i settled, or the day i sign the release? One last question, when receiving a large check from an insurance company, is it received as a regular check, or as a cashiers check? Thanks a bunch!

  44. Tawna September 13, 2013 at 5:05 am #

    Everyone likes their health insurance so much there must be plenty of good companies out there. I’m looking for an option besides the government option. I’ll even try your insurance company if you are really happy with them. Please provide me with the name of the company and what you like about their service.

    I would like to compare several policies (I assume they are all different) before I decide.

    Also, if anyone could point out the differences in policies between different insurers that would be very helpful. Thanks.

  45. Sherwood September 14, 2013 at 6:01 am #

    what percentage do they normaly give of what ur lawyer ask for ? All of my injury’s are for real and are very accounted for without putting a show on !

  46. Darrick September 15, 2013 at 6:02 pm #

    My adult daughter received a DUI driving MY Car. She drove through a restaurant. (no one was there as it was closed) The first damage report came in at $20,000 and my insurance was going to pay it. I have coverage up to $100,000. However, the city did not accept the repair, and is requiring the restaurant to rebuild the entire side of the building to meet new codes. They have acquired an attorney. My insurance suggested I get an attorney. I do NOT have an umbrella policy.
    My daughter has no monies if they choose to sue her. However, I have been told that I might be sued, as it was my car she was driving. (Yes, she has had other DUIs in her past)
    ANY suggestions at all regarding my home, my finances, or possible ramifications to ME for this accident?? Serious help only, please….no snide comments.
    I currently reside in South Carolina.

  47. Trina September 15, 2013 at 11:06 pm #

    I am trying to figure out the best way to find out information from an accident settlement from many years ago for my friend. Her daughter was about 2 years old and got hit by a car, and there was supposed to be a settlement for the child held until she turned 18. Well she is almost 17, they have moved around quite a bit in the last 15 years, and has no information whatsoever. My only thought was to start with the police report….any other ideas of what else to do from there?

  48. Josette September 21, 2013 at 4:41 am #

    I was thinking about selling some ( ATC’s- Art Trading Cards).
    and I will have to get a paypal account, so I can get paid.
    Have you had any trouble with paypal

  49. Taryn September 24, 2013 at 1:35 am #

    So i got into an accident yesterday more of a hit and run. But I was wondering what is the procedure if it is not ur fault and when it is. What is the best way to deal with cops and how to document everything.

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