If someone else was at fault for a car accident and you were wounded, their insurance coverage can pay your losses. Will the insurance policy’s limits, though, have an impact on how much you get? What would happen if your damages exceeded those policy limits? Continue reading to learn how policy limits impact personal injury claims, and if you require a free legal consultation, call Law Offices of Fernando D. Vargas at 909-982-0707 thereafter.
Yes, there are policy limits to restrict the amount you can recover, however there are some exceptions
In general, it is accurate to say that your recovery will be limited to the policy limit. There are, however, certain exceptions. Take this as an example: A car collision resulted in injury. She collected $650,000 from the insurance despite the policy’s $50,000 maximum coverage. How? Let us look at it.
This case involved medical bills that exceeded the policy’s limits
The incident in question involves a defendant who was driving drunk and a woman who was seriously injured in a car collision. The defendant was operating her parent’s $50,000 insurance policy-capped vehicle. The wounded party had a shattered leg and more than $50,000 in medical expenses. The insurance provider promised to compensate the victim up to $50,000, but with one condition: they demanded that she also release the girl’s parents, who were named on the policy, in addition to the girl who attacked her.
Unfortunately, insurance firms frequently employ this strategy. The injured party in this case consented to the defendant’s release in exchange for the $50,000 payment, but she did not consent to the release of her parents. This worked in the victim’s favor since she went to court and won a $585,000 judgment. In addition, the insurance company was compelled to pay an extra $65,000 because it failed to offer a fair settlement.
There are other occasions where policy limits are obsolete
There are alternative choices available if the coverage limitations of an insurance policy are insufficient to cover your injuries. Identifying if there were several parties at blame is one of the primary options. You might possibly file claims against both insurance companies, for instance, if you were in a car accident where one party was found to be 25% at fault for speeding and another person was found to be 75% at blame for running a red light.
Let us guide you toward the best course of action
The basic fact is that although your personal injury claim may be impacted by policy restrictions, this does not guarantee that it will always be. Law Offices of Fernando D. Vargas can provide a free legal consultation, which is the best way to learn about your actual alternatives and how to obtain the compensation you are due. Call them at 909-982-0707 to schedule your appointment.
