This happens more than you might think.
You should put in writing that you request the insurer to settle your case for the policy limits.
It is best if you have "independent" counsel to associate into the case and protect your interests above your policy limit.
The insurance company appointed lawyer may be good---but, his first loyalty is likely to be the insurance company and not you.
If the trial results in an excess verdict, you can likely assign your rights against...
There are plenty of lawyers who will be competitive on price---- frankly, I do not understand why that is the important inquiry.
A great lawyer at 33 percent might get you $100,000. A bargain lawyer might get you $50,00 at 25 percent--- which would you choose and why?
Be wary of inexperienced lawyers who will price war in irder to get your case. Be wary of the experienced lawyer who will price war to get your case. Do you think he will spend more time and money on a 33 percent case or a 25...
Tragically, no. When you accept the policy limits it will be in exchange for a full release of all claims.
Please check your uninsured motorist coverage. It will convert to "underinsured" motorist coverage if the amount of the policy exceeds the amount of the 3rd party liability coverage.
Time to consult with an attorney!
This is a "classic" situation in which your Uninsured Motorist coverage applies.
The accident you described happens more often than you might think. Possibly, as much as 1 in 5 accidents are with uninsured drivers. That is why I preach and beg people to prepare for this likelihood by purchasing enough UM coverage. (It is a relative bargain!)
As for "punishment," it will occur--- but, probably not to the extent deserved. This guy is looking at 1) jail time, 2) mandatory suspension of driver's...
Your question perfectly highlights how it all works together.
First of all, you may have a claim for "Medical Payments" coverage under your driver's policy. This is like "no fault" medical insurance. In addition, you may be entitled to Medical Payments coverage under your own auto insurance policy! Usually, multiple policies will cooperate or pro-rate the coverage.
I always recommend to my clients that they go through their own health insurance first. Not only does this...
The big question is whether your family has a policy of Uninsured Motorist coverage that exceeds $30,000. If so, it converts to "Underinsured" motorist coverage and you may have additional funds available to you!
Even if you do not maintain proper insurance, under California law you are entitled to be compensated for all "economic" damages. This includes property damage for your car and loss of use of your vehicle for a reasonable time.
In addition, you are entitled to "economic" damages for any medical and related expenses if you suffered a bodily injury.
Under the law, you are not entitled to "non-economic" damages. These damages are typically for pain, suffering and inconvenience.
I love your question!
Assuming everything you have said is correct, then you probably do not need a lawyer to obtain the 3rd party settlement AND the underinsured motorist settlement.
However, a lawyer may be of great assistance in negotiating your liens. The short story is that most lien holders will honor the "common fund" doctrine and automatically reduce your lien by one-third-----as a starting point! Without an attorney, the common fund doctrine does not apply. Perhaps an attorney...
It sounds like you will be sued and served with a Summons and a Complaint.
Don't worry. You just hand it over immediately to your insurer and they will defend you.
I can hazard a guess that your insurer will not be totally surprised because they probably denied liability already. The adverse driver has no other alternative if he thinks you were at fault.
Good luck to you!