It is great you have a high policy value. Let your insurance company handle it. Best of ;luck and do not worry.
This answer is provided by California Accident Attorney Manuel A. Juarez, Esq., 510-206-4492. Abogado de Accidentes de Autos de California: 510-206-4492. Abogado de Lesiones de Accidentes de Autos, provides answers of a general context. These answers are not intended to form an attorney client relationship. Oakland Abogado Accidentes Autos, Abogado de Lesiones Personales, Abogado de Accidentes de carros, Abogado de accidentes de Peatones, practices in Antioch, Berkeley, Concord, Oakland, Hayward, Martinez, Newark, Richmond, San Francisco and San Rafael. El abogado de lesiones y heridos en accidentes de autos, is licensed only in California. This information is good only in California and it is not to be taken as legal advice on car accidents, personal injury, divorce, bankruptcy or in any other type of situation. Esta respuesta es del Abogado de Accidentes de Autos, Abogado de Lesiones Personales, Abogado de Heridos en Accidentes de carros, Manuel A. Juárez, 510-206-4492. Abogado Hispano de Accidentes, Abogado de Divorcios, Abogado Latino de Accidentes, Abogado de Accidentes de Oakland, Hayward, San Francisco, California. Estas respuesta son solo para información general y no consisten en consejo legal sobre divorcios, mantención de esposas, mantención de hijos o bancarrotas. Las respuestas son comentarios legales que no forman una relación de abogado y cliente. Manuel Juarez, Esq., esta licenciado solo en el Estado de California.
Let your insurance company deal with it, You have nothing to worry about. Someone is blowing hot air.
My name is Stephen R. Cohen and have practiced since 1974. I practice in Los Angeles and Orange County, CA. These answers do not create an attorney client relationship. My answers may offend I believe in telling the truth, I use common sense as well as the law. Other state's laws may differ.. There are a lot of really good attorneys on this site, I will do limited appearances which are preparation of court documents it is , less expensive. However generally I believe an attorney is better than none.
I think it's far too early to be worrying about your wife's paychecks. You're only liable if and to the extent you are found at fault. No fault equals no liability. If you are found at fault, it may be for a small percentage of the total, in which case the guy's claim would be reduced by his percentage of fault; for example if you're only 20 percent at fault you only pay for 20 percent of his damages. He'd have to have a case worth $1million to be entitled to collect $200K from you.
You don't describe what his injuries were but you have a good policy limit - even plaintiffs with legitimate claims will usually be satisfied with that amount and won't bother you beyond that.
Your insurance company should deal with this on your behalf. A situation like this is why you have been paying your monthly premiums. This is exactly why you have insurance.
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This is clearly a matter for your insurance company to worry about and not you and your wife. FYI, just because the police did not place blame on you or ticket you does not mean that you were "held" not at fault. Fault can only be determined at a trial of the action.