Personal injury in CA - if i get sued can i lose my house and retirement?

Asked 6 months ago - Duarte, CA

i have been found at fault with an auto accident- my insurance was bare minimum.

Attorney answers (5)

  1. Christopher John Gansen

    Pro

    Contributor Level 18

    10

    Lawyers agree

    Answered . Let your insurance handle it. If it looks like you're in danger of an excess judgment, they have to let you know and try to settle your case.

  2. Robert Bruce Kopelson

    Pro

    Contributor Level 20

    8

    Lawyers agree

    Answered . Not likely. The amount the person can be awarded depends upon how badly injured he is. if injuries arent big, your policy may be enough. if the person has underinsured motorist coverage, he may find it easier to collect your 15k policy, and then go after his own ins. You dont say how much equity you have and other assets. Bankruptcy can discharge a car accident damages, unless you were DUI. In Bankruptcy, you can keep certain assets. you can get a consult form a BK atty to find out what assets you can have that cant be taken.

  3. Daniel Nelson Deasy

    Contributor Level 20

    9

    Lawyers agree

    Answered . Yes you can if the damages are big against you. Of course, bankruptcy may be an option. Talk to your carrier about putting you in contact with an insurance defense attorney to discuss your options.

    In no way am I offering you legal advice, and in no way has my comment created an attorney-client relationship.... more
  4. Christian K. Lassen II

    Pro

    Contributor Level 20

    8

    Lawyers agree

    Answered . You should retain independent local counsel to protect your interests and assets if you have minimum coverage and the damages were significant.

  5. Richard Marc Katz

    Pro

    Contributor Level 16

    4

    Lawyers agree

    1

    Answered . In California insurance company not only has the duty to indemnify (pay a claim) but a duty to provide a defense.

    If you have only minimum coverage and the claim against you has value in excess of your coverage it is possible that your personal assets could be exposed. But essentially for that happen the matter would have to proceed to trial and a verdict rendered in excess of your policy limits.

    You do not give enough information with respect to the nature and extent of the injuries but if the claim is considerable and you have substantial assets at some point in time you may be asked to contribute to a settlement.

    I would recommend that you obtain as much information from your insurance company is possible with regard to the claim against you and contact counsel does discuss your options.

    If the incident was a basic "fender– bendor" without serious injury then most likely your coverage will be sufficient.

    Given your present situation you may wish to consider obtaining greater limits.

    Once again contact your insurance company so you can learn the nature and extent of the claim being made against you and set up a meeting with local counsel to discuss your options.

    The information provided is for general informational purposes only and is not intended to be legal advice. I am... more

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