Judgement over policy limits

[Hurting Hoosier]

My pregnant wife was rearended, other guys fault. Could not get mri's, etc. until after baby was born. Went thru a lot of therapy, will need to have back surgery, medical bills will be about $50,000.This has drug on for over a year, she has been in constant pain, very limited activities, $12,000 in lost wages. Driver has $100,000 policy limit. Does this mean that all medical bills, legal fees, and any award for pain and suffering must be $100,000 or less? Baby was delivered early to help alleviate pain but is healthy and VERY active!

 

[I AM ALWAYS LIABLE]

<BLOCKQUOTE><font size="1" face="Arial, Helvetica, Verdana">quote:</font><HR>Originally posted by Hurting Hoosier:
My pregnant wife was rearended, other guys fault. Could not get mri's, etc. until after baby was born. Went thru a lot of therapy, will need to have back surgery, medical bills will be about $50,000.This has drug on for over a year, she has been in constant pain, very limited activities, $12,000 in lost wages. Driver has $100,000 policy limit. Does this mean that all medical bills, legal fees, and any award for pain and suffering must be $100,000 or less? Baby was delivered early to help alleviate pain but is healthy and VERY active! <HR></BLOCKQUOTE>


My response:

This insurance company for the defendant is only obligated to pay up to the policy limits in settlement or after judgment. However, if you actually go to trial and obtain a jury verdict over the policy limit, the defendant will personally be on the hook for the overage. Or, in rare circumstances, if you're attorney makes a "policy limit demand" and the insurance company rejects the demand, then after judgment the insurance company could be on the hook to pay all of the judgment, no matter what the amount.

IAAL


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Make sure that the other party only has the policy limit of $100,000. Ask the insurance company to verify and certify that they are aware of no other policy of insurance that would cover the claim. Ask them to present an affidavit from their insured that he/she has no other collectible assets. If you have a lawyer, ask he/she to obtain this information. What has the lawyer done for you so far? Has the insurance company offered the policy limits?

Do you have any insurance that provides benefits for this claim such as health insurance, auto medical payments coverage (PIP), or auto underinsured motorist coverage?