Compensation Beyond the Insurance Policy Limit
If you or someone in your family suffers an injury in an accident caused by another person, your recovery time may necessitate missing out on work and expensive medical attention. The legal system allows for you to recover compensation to get your life back, but given the extent of your damages, you may be wondering, “Can I collect injury compensation beyond the insurance policy limits?”
You are not bound by the negligent party’s policy limits and can seek additional compensation beyond that. Your options for recovery are based on the facts of your case, but our experienced Ohio personal injury lawyers can help you recover the max.
For more information, visit our contact us online or call 1-800-HURT-NOW to schedule a free consultation.
How KNR Maximizes Compensation
When the at-fault party’s insurance coverage is insufficient to cover your losses, our attorneys will review the unique details of your case, fully document your assorted losses, identify any other liable parties and supplemental insurance policies, and fully evaluate all the ways you can recover the compensation you need.
Identify Additional Liable Parties
It’s extremely common for medical costs in a car accident to exceed $25,000, which is the state’s required minimum liability coverage that drivers must have for bodily injuries that they cause. In injuries that do not involve motor vehicle accidents, the negligent party may have no insurance coverage or insufficient coverage for the injuries that they cause.
However, many times there is more than one party responsible for an accident, and we can seek to recover damages from other liable parties if they are also in part responsible for your injuries.
Other responsible parties in personal injury cases can include:
- The mechanic or another professional who left the defendant’s car in an unsafe state for driving on the road.
- In a medical malpractice case, the hospital or employer of your liable doctor can also hold liability for having failed to take certain precautions to help prevent your injury.
- In a premises liability case, the owner or occupier of the location where you were injured could be liable since they failed to take reasonable precautions to make the location safe for guests.
File Against the Umbrella Policy
A defendant in your case may have an umbrella policy, which is a term used to describe a policy that essentially covers all other policies that they might have as well. For example, a company might have an umbrella policy of $100,000 on top of a $25,000 liability policy. In this case, we would likely be able to seek the full $125,000 for your damages. These umbrella policies are sometimes held by private individuals, but they are also common for large businesses and corporations.
Your attorney can determine if there are any umbrella policies that apply to your case and can be brought into your suit in order to help you recover.
File An Underinsured Motorist Claim
For drivers with supplemental Uninsured / Underinsured Motorist Coverage (UIM) insurance, they can file a claim through their own insurance to recover economic damages, such as medical bills and property damage. This can be done without a lawsuit, but insurance companies frequently try to reduce what they pay in UIM compensation, even for their own policyholders.
Sue for Damages Beyond The Policy Limit
If the policy limits of the liable person cover your damages, then you can simply focus on collecting what you can from the insurance company. However, since this might not be the case, you have the option to exercise your right to personally sue the individual or people whose negligence caused your accident.
Filing a lawsuit against someone whose insurance coverage is not sufficient will not always be successful since many people will not have enough assets or income to pay for damages. You and your lawyer will have to review your needs after an accident and determine if the liable person has enough money at their disposal to make a personal lawsuit worth your time and expense.
Determine if the Insurance Company Acts in Bad Faith?
Many times, the policy limits might be enough to help an injured person during their recovery, but they may not receive a sufficient settlement offer from the insurance company. If this happens, you may feel the need to look elsewhere for compensation, but your lawyer may also be able to sue the insurance company on the grounds that they are negotiating in bad faith when they could easily give you the compensation you need while staying within the limits.
Insurance companies are required to negotiate in good faith with an injured person and therefore consider all the details of the case. If they are not and refuse to settle for a reasonable amount, they can be sued for the policy limits and more in some situations.
A strong case for damages can make it easy to identify an insurance company that is not acting in good faith toward someone who clearly needs reasonable compensation for their injuries.
KNR illustrate damages to the insurance company & court with:
- The amount of money you owe in medical bills
- The lost wages that you have suffered from being out of work
- The lost earning potential that your injury has caused
- The property damages that you suffered as a result of your accident
Kisling, Nestico & Redick Can Help You
Injured people facing an insurance company often ask, “Can I collect injury compensation beyond the insurance policy limits?” Collecting more than a policy limit is possible if your injuries require more compensation, but each case offers its own challenges in doing so. A skilled lawyer can make sure that you are pursuing the best course of action when working to collect damages that can properly provide for you and your family during your time of need.
Our Ohio personal injury lawyers at Kisling, Nestico & Redick know how to help you after a serious accident. To speak with an experienced lawyer, contact us today at 1-800-HURT-NOW to set up a free case consultation.