M
minardml
Guest
California
My 18 year old hit a drunk (.29 bac) pedestrian in a crosswalk coming home from work. The car is his, but is registered in my name and he is on my insurance policy. The limits of my policy are only 100/300. My insurance company says that this could easly be a million dollars lawsuit. The man has brain damage, his medical bills currently are in excess of $400k. Fortunately he is single and does not care for a family. We live in California so the pedestrian is always in the right. My son was charged with failure to yeld, he was also doing 5 to 10mph over the limit. My question is beyond the insurance limits what could my, or my sons financial responsibility be in this case if $100K is not enough money and they sue for more. I am a home owner, I do not have liquid assets that would even come close to 1 mil. What is the best way to protect myself, my home etc. Thanks for advice.
[Edited by minardml on 01-05-2001 at 02:49 AM]
My 18 year old hit a drunk (.29 bac) pedestrian in a crosswalk coming home from work. The car is his, but is registered in my name and he is on my insurance policy. The limits of my policy are only 100/300. My insurance company says that this could easly be a million dollars lawsuit. The man has brain damage, his medical bills currently are in excess of $400k. Fortunately he is single and does not care for a family. We live in California so the pedestrian is always in the right. My son was charged with failure to yeld, he was also doing 5 to 10mph over the limit. My question is beyond the insurance limits what could my, or my sons financial responsibility be in this case if $100K is not enough money and they sue for more. I am a home owner, I do not have liquid assets that would even come close to 1 mil. What is the best way to protect myself, my home etc. Thanks for advice.
[Edited by minardml on 01-05-2001 at 02:49 AM]