fbpx
ARKANSAS TRIAL LAWYERS
Personal Attention, Proven Results Since 1953

Arkansas Traffic Fatalities Show Large Increase in June 2020

Published on Jul 9, 2020 at 2:25 pm in Car Wrecks.

Closeup of road

Even though the state has taken measures to keep people safe from COVID-19 through limiting time spent around others and crowded spaces, which has decreased the traffic volume on the roads, Arkansas’ traffic fatalities have largely increased in June 2020. In fact, the traffic fatalities from the first six months of this year are 16% higher than the first six months of 2019.

What Is Gap Insurance?

Published on Mar 21, 2016 at 1:57 pm in Car Insurance, Car Wrecks, Consumer Awareness.

I often receive phone calls about liability insurance carriers not wanting to pay for all of the debt associated with a motor vehicle that has been totaled.  According to Arkansas’s jury instructions, the liability insurance carrier must only pay the difference in fair market value immediately before and immediately after the wreck.  See AMI 2210.  Fair market value is defined as “the price the [motor vehicle] would bring on the open market in a sale between a seller who is willing to sell and a buyer who is willing and able to buy after a reasonable opportunity for negotiations.”  See AMI 2221.  The amount the vehicle owner owes is irrelevant to the market value of the vehicle.

If your vehicle is totaled, you owe $10,000 on the vehicle, and the fair market value of the vehicle is $8,000, then you are upside down $2,000.  Stated differently, there is a gap of $2,000.  This is where good gap insurance coverage comes in handy.  A well written gap insurance policy will cover the $2,000 you are upside down on the vehicle.  As with most types of insurance coverage, there are good policies and bad policies.  When purchasing gap insurance, you must read the fine print to determine whether you are paying for a policy that covers the outstanding debt on the vehicle or only the fair market value.  As discussed in the first paragraph, the liability insurance carrier is required to pay the fair market value of the vehicle so gap insurance that only covers the fair market value is of limited benefit to the consumer.  For more information on how gap insurance works and the type of policy you need, check out the following link from the Arkansas Attorney General’s Office: https://arkansasag.gov/programs/consumer-protection/my-vehicle/gap-insurance

What Is A Contingency Fee?

Published on Feb 24, 2016 at 3:29 pm in 18-Wheeler wreck, Brain Injuries, Car Insurance, Car Wrecks, Consumer Awareness, Wrongful Death.

A contingency fee is a fee charged by an attorney to a client contingent upon the outcome of the matter.  Contingent fees in personal injury and wrongful death cases are allowed in Arkansas if the agreement is in writing and states the method for computing the fee, including the percentage of the fee and how costs will be handled.  See Arkansas Rules of Professional Conduct 1.5(c).

McMath Woods has served injured Arkansans since 1953.  Over the past sixty-three years, we’ve handled many personal injury and wrongful death cases on a contingent basis.  If you or a loved one has been injured and you need to hire an Arkansas lawyer on a contingency fee, please feel free to give us a call at McMath Woods.  

Free Case Evaluations

Disclaimer: Some non-personal injury related cases do require a consultation fee.
501-396-5400

Call us or fill out the form below to tell us about your potential case and a personal injury lawyer will get back to you as quickly as possible.