Auto accident, at-fault, had insurance, what could happen?
Posted on Jul 08, 2008 under Insurance Information |I was involved in an accident, where I was at 5mph and someone hit me, both cars totalled. Police said he had right of way, and driver and passenger got injured with broken bones.
- what could happen?
- do i need a lawyer?
- is there a possible sue?
- can i counter sue?
i want to protect my assets, your help appreciated.
- same insurance company for both drivers
- any good ideas on how to procede
July 8th, 2008 at 9:17 am
wow sorry 2 hear that good luck
July 8th, 2008 at 9:17 am
First did you have full coverage if so they will go after your insurance company who will pay and raise your insurance rate sky high.
July 8th, 2008 at 9:17 am
Your insurance company should have your interests at hand. if you are under-insured, you could be sued for more damages. Good luck.
July 8th, 2008 at 9:17 am
sorry to here it
1.your insurance could increase.
2.they could sue
3.i would talk with a lawyer
some ppl will settle without taking it to court.
July 8th, 2008 at 9:17 am
First of all, did you have auto insurance? If so, then just let your insurance carrier handle the situation. Do not talk to or discuss the accident with anyone other than your insurance company. If you didn't carry insurance coverage, then you may want to seek legal counsel to weigh your options, if you have any. LOL
July 8th, 2008 at 9:17 am
Sorry to hear about your troubles, this happen to me a few years back. I can't remember right off hand how much it all cost me when it was over. Get a good lawyer, driving law says that you should have your car under control at all times when you are driving.
July 8th, 2008 at 9:17 am
if you were indeed only going 5mph and both vehicles got totaled, someone had to be grossly negligent. namely the other vehicle or your car was not on the higher end of value. if you were found at fault (and you agree with that) then the other party will go through your insurance company. they may try to sue you (since they have injuries) but is your insurance companies responsibility to represent you in these matters. if you get any paperwork, send it on to your insurance company. if your insurance company has to pay more than your limits (typically for personal auto insurance, the limits can be between $100,000 to $250,000 or more if you have realy good insurance. if the costs for the other party go above that, you may be called on to pay the remainder.
July 8th, 2008 at 9:17 am
If the other person was hurt and had broken bones assume he's going to get a lawyer and come after you.
Since its the same insurer, it's going to be more complicated. Normally they hire your attorney, which they may do.
But either way if you have assets, it would be a good time to begin reallocating them in case the award is above what your policy limits are.
If the policy pays out its maxiumum and they still want more they'll come after your assets like your home.
One of the best things you can do is buy an umbrella liability policy. If you already have homeowner's insurance, you can buy an umbrella for about $120-$150 per year for $1-million in coverage which would, in this case, pay the excess.
January 12th, 2012 at 4:20 pm
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