How Car Accident Lawyers Recover Settlements Above The Policy Limits Of Negligent Individuals
When you're involved in a collision as a result of somebody else's recklessness, their insurance should pay for your losses. Insurance companies know that they should reimburse individuals who get involved in such incidents. However, they can't pay out more than the limits of the coverage that an individual purchases. So, if your claim against the at-fault party is more than their insurer can pay, you need to find other options to enable you to get the maximum settlement. This process isn't easy and requires the service of a car accident lawyer. In this article, you'll learn how these attorneys will help you get your full reimbursement amount despite policy limits:
Suing the Liable Party's Insurer
Victims of crashes can file a lawsuit of bad faith against insurers who refuse to settle their claims. It's the responsibility of these companies to compensate you if the policyholder is liable for your injuries. If they fail to offer the amount that's within the limits, an attorney can sue them and get you reimbursed for your full claim. However, this will require appearing before a jury. The good thing is that these lawyers are experienced in handling such cases and are more likely to convince the judges to compel the company to pay you for all your damages even if they're above the limits. An attorney will also tell you if such a judgment can be delivered within your state because laws differ in these jurisdictions.
Filing a Claim Directly Against the Reckless Individual
If an insurer can't pay you the full amount for your losses, you can file a lawsuit against the individual who injured you, especially if they have significant assets. Determining the wealth of these individuals can be challenging if you don't have access to state resources, which is why you should let an accident lawyer handle this claim for you. Most of these attorneys know how to find a person's worth and determine whether they can reimburse the remaining amounts out of their pockets. They can also negotiate with them out of court, reducing the hassles of legal battles.
Filing a Lawsuit Against All the Responsible Parties
Some accidents could have more than one at-fault party. Lawyers know how to identify all the responsible individuals and can file a lawsuit against their insurers. This way, even if your losses exceed the limits of an individual policy, the other insurers can pay the remaining amount.
It's your right to be reimbursed for damages caused as a result of another person's negligence. If you find out that the policy limits of such a person are lower than the amount in your claim, contact a car accident lawyer immediately. Through various techniques, they'll help you recover a settlement to enable you to pay for your treatment expenses and continue providing for your loved ones.
To learn more, contact a car accident lawyer in your area.