If they declare bankruptcy and they probably will then what do you do? It would seem impossible to ever get any money from them.
2007-03-13 06:10:37 · 13 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
It depends on the state, and whether that state has any protections or funds in place to handle the situation.
It also depends on whether your own insurance company will refuse to pay if they cannot collect from some other insurance company.
Remember that if you have insurance, you are (probably) paying for the ability to collect if your car gets damaged. Your insurance company normally recoups any outlay by going after the other person, assuming the other person was at fault.
But whether the other person has insurance or not, that does not change the contractual obligations your insurance company has to you. So, it all depends on what it says in your insurance contract, and what insurance you were paying for.
2007-03-13 06:17:00 · answer #1 · answered by coragryph 7 · 3⤊ 1⤋
Bankruptcy is for everone that has financial problems. Poor people many times can't afford insurance. Not that they don't want it. If you are worried you should carry uninsured motorerist. It covers in case the other driver has no insurance. Some cases the other party has insurance but has limits on coverage. If you were driving something like a Porsche which could cost over $20,000 to fix. The limit of some policies. You should have full coverage. If the person files bankrupcy obviously the person is broke and has nothing. You can't collect money from someone that don't have it. Many of bill collectors see this. You can't get blood out of a turnip. Even if the state puts a block on that persons license because they don't have insurance and pay for damages that don't get your car fixed. The more you spend on lawyers to try to collect from someone poor you end up paying more. Sometimes you have to cut your losses. You should have full coverage. Apoor person could not ask this question.
2007-03-13 14:01:15 · answer #2 · answered by roundman84 3 · 0⤊ 0⤋
Yes, of course uninsured motorist is correct as everyone else is stating, but as in my son's case, he was hit by a man who took his ex girlfriends car after an argument. The man was drunk and fled on foot and does not own a driver's license. Later we found out that it does not pertain to anyone that does not own the car. My son had to go after his insurance which took a very long time. It had to be proven to them before they turned over a cent that there was no money coming from them. The odd thing is the ex girlfriend did not have to pay anything either. See how the system can really mess up a good day?
2007-03-13 15:27:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Legally they are liable, so you are not legally screwed (I'm not sure about the bankruptcy proceeding as a secondary issue).
Trying to get money out of someone who wouldn't pony up for insurance is likely to cost you more (especially in time and energy) than you will ever procure out of them.
Make sure your policy includes un/under-insured drivers. You usually will have a deductible but it's better than losing your car altogether.
2007-03-13 13:15:58 · answer #4 · answered by T.I. 3 · 1⤊ 0⤋
You may not be screwed, but you might be in a difficult position. You can sue the person personally. But obviously, if they have no money or assets, you cannot recover. Your judgment will just sit around until there is something to take. Plus you will have to pay court costs, attorneys fees, etc - you may end up in the negative.
Can you try and settle with them? Something is better than nothing.
2007-03-13 13:15:55 · answer #5 · answered by EthanHunt 3 · 1⤊ 0⤋
It depends...the above posters are correct in that you may be covered under your own insurance policy for insured motorists, but that is only if there is proof that they uninsured party was at fault or they fess up to it. If there are any witnesses or proof but your insurance still balks at paying, you may have to sue your insurance company to recover under uninsured motorists coverage on your policy.
2007-03-13 13:57:34 · answer #6 · answered by bottleblondemama 7 · 0⤊ 0⤋
Yep.
Screwed to your knees.
My wife was hit by an illegal immigrant who ran a stop light and totalled her car.
He had no license, no registration, and no insurance.
She had no help and no way to get compensation. Our insurance had to do everything.
There is nothing you can do about it, either.
2007-03-13 13:14:53 · answer #7 · answered by ? 6 · 1⤊ 0⤋
No, that's why you have uninsured motorist coverage. That provides coverage when you are involved in an accident with someone who has no insurance.
2007-03-13 13:13:33 · answer #8 · answered by MoltarRocks 7 · 2⤊ 0⤋
Your insurance company will pay you and sue the other party
2007-03-13 13:13:49 · answer #9 · answered by Anonymous · 0⤊ 0⤋
you're only legally screwed if you didn't have the mental capacity to get uninsured motorist coverage, which is pretty cheap.
2007-03-13 13:14:39 · answer #10 · answered by Anonymous · 1⤊ 0⤋