07-09-2001, 05:16 PM
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| Senior Member | | Join Date: Jan 2000 Location: Los Angeles, California
Posts: 38,191
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Quote: Originally posted by debbiec
Will I have to go to Court?
MY RESPONSE: Possibly. It depends upon whether your insurance company is able to settle the lawsuit against you, prior to trial. There may, however, be a deposition and written questions for you to answer. Cooperate with your attorney.
Will my assets be touched?
MY RESPONSE: Well, that depends upon many factors, not the least of which is how much they win, and whether your policy limits is large enough to cover any judgment. Your insurance company will do everything they can to settle the case within your policy limits.
But, be aware, that may not be possible. For example, if you only had minimum liability limits, say, $15,000.00, and all three win a total judgment of $50,000.00 against you, then guess where the balance of $35,000.00 is going to come from ? That's right. You.
All eyes will be on you to pay the remaining balance of any judgment that is rendered by the court, and which is above your policy limits.
Good luck to you.
IAAL
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