In the month of April,2012 I was involved in a car accident. Although I denied it, I was put at fault. I denied it since my brakes did not respond and caused the accident. 5 cars were affected (including mine).
This accident happened in LosAngles, CA. I am currently residing in Dallas,TX.
My property damage liability has a limit if $10,000. The total claim from all other parties is $28,000.
Q1) Is there any legal way to protect my assets?
Q2) I do not remember giving permission to my Insurance Company to divulge the details of my policy limits. In this regard, I have asked them to mail me a copy of the permission letter. I am yet to hear from them. If I have Not given permission and they have still divulged the details, can I take any action.
Sexual Harassment Attorney
You have a problem if there are other plaintiffs making a claim against you and you only have $10,000 in property damage insurance and there are $28,000 in claims. You may get sued and not have enough insurance. I do not think you have any claim against your insurance carrier for honestly explaining your low limits of coverage. Go consult with your own attorney- you are going to need one.
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Personal Injury Lawyer
There may or may not be ways to "protect" your assets, but to get the right advice and do it would cost you much more than $28,000.00. Note that in Texas much of your property is protected by homestead laws.
Your insurer does not need your permission to reveal policy limits.
Usually, but not always, the insurance company will not pay policy limits unless the other side(s) give a full release. Sometimes they will just put the policy limits in the court and let the other parties fight over who gets it. However, if your brakes really failed (and an examination of the vehicle would show that), then it is likely the insurance company will defend the case.
This can be very complicated, so I have left out some possibilities.
This is not legal advice. You should always discuss the specifics of your issue in person with an attorney. Be aware that there are time limits on all claims that depend on the kind of claim, so do not delay in seeking an attorney.
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Car / Auto Accident Lawyer
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