Sued for not enough Liability insurance

[sportzfam]

What is the name of your state?What is the name of your state? California

I was involved in an accident that was my fault. The driver had serious injuries and spent several days in the hospital. My liability insurance was 100/300. If that is not enough coverage what can the other party sue me for? Can they take my house? Can they sue against my homeowners policy? What if I do not have any other assest other than my home, what happens?

[stephenk]

If the injuries and damages have a value in excess of your $100,000 limit, the injured party can sue and seek recovery above your policy limits. This is more likely depending on assets you own. Your house can be homesteaded to protect it to some extent. If you have a large stock portfolio, savings account, classic cars, etc. those are the type of things the other party may demand you sell in order to pay above your policy limits.

The above happens if the other party sues and gets a judgment in excess of your $100k limit.

Your homeowner's insurance typically excludes auto accidents from being covered.

However, most cases will settle for the policy limit because you always have th option of bankruptcy and the other party will not recover anything above your policy.

Has the other party filed suit? Have you been talking with your carrier about the status of settlement? Other than the hospital stay, what injuries did the person suffer?

[fejee]

Send a letter to your insurance company saying you would like them to settle this claim within your policy limits. Don't let your insurance company miss any opportunity to settle the claim within your limits or they may open the policy.

If the other party is uninsured, than he can only recover for medical expenses, loss of earnings, etc. and not for any pain and suffering. Looks like from your descrption the total economic damages may exceed your $100k limits. What was the purpose of your trip when the accident occurred? Was it work related?

Instruct your carrier to keep you abreast of all matters pertaining to settlement. If the other party has insurance that affords him UIM coverage (Underinsured Motorist)with limits in excess of $100k, the chances he would come after u are slim. For eg, if he has $250k in UIM coverage, he can collect a max of $100k from you and another $150k under his UIM coverage with his insurance company.

Good luck, Sporty.

[sportzfam]

The injured party did have minimul coverage but nothing in excess of my policy limits. They are asking for $311,000 for medical expenses, loss of wages and pain and suffering. My insurance company is now investigating the amount for the claim. My purpose of the trip was not work related. I am just afraid that the injured party is going to take everything I own to pay the debt. My insurance company said they can put a lein on my home. What is sad to me is that I pay for insurance and have modest policy limits but if the roles were reversed the most I could get out of the other party is $25,000 which was their limit and they are renters, so I would not be able to get much else. But because I have a few assets and a home they can take so much from me.