It is a fear that many of us have had as we’re driving, “What if I get hurt by someone who doesn’t have insurance?” What happens when someone who can’t even afford their insurance, causes you physical and financial pain?
Drivers are required by law to carry the minimum insurance coverage. On one hand, when the accident results in severe injuries, the insurance coverage at times may not be sufficient to compensate the damages of the victims in the accident. This is especially the case when there are multiple claimants who were injured in an accident, and the policy simply reaches it’s maximum coverage level. What happens then?
Car Accident with Uninsured Driver in Las Vegas
Liability Outside Policy Limits of Car Accident with Uninsured Drive
After being faced with a car accident with uninsured drive, the driver may put his or her personal assets at risks if coverage of insurance policy becomes insufficient. If there’s a judgment against the driver which resulted in a vehicular accident, the at-fault driver in most states will be unable to secure the renewal of a driver’s license prior to the payment of the judgment. This often times will prompt some drivers into bankruptcy.
That is why in most cases those with higher personal assets or who have the ability to cover excessive liability fee’s, most will have a much higher limit on their insurance policies so as to avoid losing assets to satisfy a judgment or an accident.
So I return the original issue, those who can pay for the coverage have the assets that you could go after, but they are also usually the ones who have proper coverage. So what about those who don’t have either? Who don’t have the assets, and don’t have the coverage?
Complexity in Recovering Adequate Damages in Regards to Personal Property
It is a given that an auto accident case is most easily solved and damages collected through the at-fault party’s insurance company. So we can seek damages from personal property. But during the litigation of an automobile negligence case, personal injury lawyers are often hesitant to pursue the personal assets of the defendant, outside the coverage limits of their insurance policies. There are sometimes constraints in pursuing what is beyond the insurance limits particularly under state laws. Such judgment could be difficult to collect, whilst insurance companies are issuing checks, in the event, personal assets should likewise be tracked down. In addition, as said before bankruptcy is often declared by the at-fault party that even when the recovery becomes successful will then be turned to waste. Before taking steps to recover damages beyond the insurance limits, make definite that the defendant or the other party is collectible. It simply means that the damages are possible to recover.
Auto Accident with Under-Insured Car
Auto accident with under-insured – It is mandated by law in most of the states to have uninsured / under-insured coverage on your insurance policy, and many experts think that it is one of the most important types of auto insurance you should have. This when that aspect of your insurance kicks in. If an attorney is not able to recover from an insurance company the necessary damages, due either to insufficient coverage or no coverage, then your insurance company will step in to pay for damages.