global_echo
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You should at least speak to a lawyer pay for an hour of consultation... You may be able to take the policy max and leave a future option open for his personal assets... If he has any...
His insurance will most likely only be liable for HIS policy caps... |
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Wizzard2
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Be careful, sometimes there are other sources of insurance. Go to a good attorney in the field and present the case. Explain that you dont want to retain him if you can settle it yourself. Does some one else own the car? Did he get drunk in a bar? Dont rush |
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ironman
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You can sue the the drunk driver, and if you were injured and have uninsured or under insured coverage in your state you can collect from your own insurance co. if you have the coverage. |
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JeffyB
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The insurer may not pay more than their limits, but there is nothing stopping you form going to court and getting more from the drunk driver than his insurance limits. I would. |
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lighthouse
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Check with an attorney. |
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gatorgirl
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This is exactly why people need prepaid legal. No, for all of you who try to get people in trouble for advertising, that is not what I am doing. I am pointing out the obvious! |
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money_locater
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Alaskan is very right Get a lawyer to represent you. They have experience in exactly what to do and this is a legal matter. Do it now.
When someone is at fault for an accident, their insurance is liable to pay out up to the maximum of the policy. The accident could have caused more damage and then the at-fault driver is liable to pay the additional amounts.
Get a lawyer NOW. |
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robsails
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The insurance co. won't pay more than the policy limits; they also won't pay without obtaining an executed release from you. If you sue and obtain a judgment for more than the policy limits the ins. co. will still only pay the policy limits of their insured's coverages.
If you get a lawyer do so only because you intend to sue the drunk driver; and get an agreement with your lawyer that he collects nothing from the amount of money already offered by the insurance company otherwise you gave the lawyer money he didn't earn.
Also, if you intend to sue, obtain an asset check on the drunk driver before filing suit to be sure it's worth the trouble. If he's judgment proof, what's the point? |
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mbrcatz
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The company won't pay out more than the policy limit, but you're welcome to sue the other driver for more than that if you want to. |
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Steve
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Yes a settlement can exceed the policy limits, however each state has different laws, some even place caps on the amount you are awarded in a settlement. Generally this falls under what is called UIM- Un -insured/Under insured coverage. See a lawyer or talk to one for free, never talk to the insurance company, they are your adversary, not your friend. |
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