Inadequate Insurance Sparks Legal Clash After Truck Wreck

Case Overview

This case revolves around a dispute between the owner of a trucking company and an insurance agent. The owner of the trucking company, identified as the plaintiff, had a "Mac" dump truck valued at approximately $180,000. During a recorded phone conversation, the plaintiff allegedly expressed a desire for "full coverage" to the insurance agent, who assured them that they would receive such coverage. However, the insurance agent subsequently insured the truck against physical damage for only $45,000. Following this, the truck was involved in an accident and suffered nearly a total loss, raising questions about the adequacy of the coverage provided and whether the insurance agent met the standard of care in this particular situation.

Questions to the Insurance expert and their responses

Please describe your experience in auto insurance, specifically as an agent.

I've been advising clients about limits in liability and explaining coverages for over 25 years.

Briefly, what are the standards in place for advising a client on how much insurance they should obtain?

When advising a client on the type of insurance they should get, one should advise that it should exceed their assets.

About the expert

This expert has over 35 years of experience in the insurance industry, with a focus on life and auto insurance. She earned her BA from Miami University and began her career as an insurance agent at various small agencies. She later transitioned into a role managing insurance policies and discounted workers’ compensation programs for a regional business organization. She continued her career with positions at both national and regional insurance providers, including a role where she operated her own independent insurance agency specializing in auto, home, life, and business coverage.

E-1005572

Specialties:

Insurance