K
kp-or
Guest
Oregon, Washington County:
Last November I was in a head-on accident where the insurance company found me completely at fault, but no citation was issued. While my 80 mercedes sedan took the 50 mph hit as it should and I walked away with a stiff neck and back, I shattered the femur of the other driver in 14 places (99 toyota 2-wheel drive PU). My insurance company has indicated they will offer the full policy amount of $100,000 to the other driver.
My insurance company adjustor told me that the injured party's lawyer faxed a form to her asking about my assets, and she will forward it along to me.
If only the equity in my home is counted along with all my other "assets", my net worth is less than the $100K my policy covers. If the full market value is counted, I'd have closer to $200,000.
My questions:
1) Is the home equity or market value the asset?
2) What is the likelihood I could be sued?
3) Should I fill out the forwarded form when it arrives?
4) Since they're looking at trying to collect for monies beyond my policy coverage, I'm assuming my insurance company would not "defend" me. Should I wait to hear from the injured's lawyer directly?
Thanks so much!!
Last November I was in a head-on accident where the insurance company found me completely at fault, but no citation was issued. While my 80 mercedes sedan took the 50 mph hit as it should and I walked away with a stiff neck and back, I shattered the femur of the other driver in 14 places (99 toyota 2-wheel drive PU). My insurance company has indicated they will offer the full policy amount of $100,000 to the other driver.
My insurance company adjustor told me that the injured party's lawyer faxed a form to her asking about my assets, and she will forward it along to me.
If only the equity in my home is counted along with all my other "assets", my net worth is less than the $100K my policy covers. If the full market value is counted, I'd have closer to $200,000.
My questions:
1) Is the home equity or market value the asset?
2) What is the likelihood I could be sued?
3) Should I fill out the forwarded form when it arrives?
4) Since they're looking at trying to collect for monies beyond my policy coverage, I'm assuming my insurance company would not "defend" me. Should I wait to hear from the injured's lawyer directly?
Thanks so much!!