do they pay all of the settlement (about $75,000) or does their insurance pay some of it? does their monthly insurance amount go up? how does this work?
thanks!
2007-04-05 08:35:16 · 8 answers · asked by Lacey 4 in Cars & Transportation ➔ Insurance & Registration
im not the one who GOT sued, i was the pedestrian hit while crossing the street in the crosswalk. i hope i settle for alot less but if that doesnt happen i was considering giving the money to the lady but if all thats going to happen in her monthly insurance amount is going to go up then i wont. the incident happened in California and the law is you must have at least 15,000 coverage.
2007-04-05 08:59:55 · update #1
definition of deductible and liability??
2007-04-05 09:00:43 · update #2
If the lady had insurance, then you are suing her insurance. The only thing that she will be paying out of pocket is the deductible on her policy, if it applies. People have insurance, in case **** happens and it did. She would be personally getting sued if she wasn't insured.
You can't give her a portion of your money. If you aren't really hurt, then don't sue her. If you are, then you have to do what you have to do. It's that simple. Her insurance company will most likely dump her, if not the premium will go up but not drastically.
Deductible is the amount that you agreed to pay in out of pocket in the event an accident occurs. Most people have a deductible on every part (i.e. collision/PIP/UM/UIM/BI) Its based on what you chose it to be.
Liability is whose at fault. If you were in an accident, you could only get sued up to the amount you have on your liability you have.
2007-04-06 07:09:31 · answer #1 · answered by Rica 82 5 · 0⤊ 0⤋
You're the 3rd party and in this case damages are paid to you out of ANY liability policy that applies to the loss, starting with the policy on the car, the policy of the driver, any PUP policies, etc.
But to make it easy, let's just say there's only 1 policy involved...the auto policy for the car. The limits the policyholder carries is 25/50, meaning $25K per person, $50K per incident. If you win a lawsuit of $75,000, the auto policy only pays $25,000. That's it, nothing more. The registered owner has an excess judgement of $50,000 against them. They can either pay it in installments or not pay it at all, at which time you would have to drag their butt back into court to secure their assets, which may not be anything because they were already carrying low liability limits to start with.
Anytime a payment is made under the BI coverage....the policyholders rates rise.
2007-04-05 23:56:27 · answer #2 · answered by bundysmom 6 · 1⤊ 0⤋
its pretty simple. the lady that hit you must pay you the value of your claim. If she has insurance and your claim is obviously worth more than the 15,000.00 Her insurance company will probably give you that amount. You would have to go to court against the lady for the rest and her company would still come in and defend her. Dont forget, if you have a policy, you might have underinsured motorist coverage that would come in also. I'm surprised that 15,000 is the minimum limit in california. deductable has nothing to do with this claim.. Dont even talk to anyone about giving her any of the money. Might be illegal or unethical.. Could cause problems with the claim
2007-04-05 19:12:37 · answer #3 · answered by expertless 5 · 1⤊ 0⤋
Most state have a law on the books of which the name escapes me that states that if the pedestrian was at least 3% at fault there is no grounds to sue. If you had liability insurance you don't have to pay anything unless the claims of damages goes beyond your limits of liability coverage. A judge would have to decide on the amount after that. Your salary can be taken and, the possibility of your home and any, assets may unfortunately be a concern. Id really speak to your attorney.
2007-04-05 15:44:44 · answer #4 · answered by Keith 2 · 1⤊ 1⤋
The insurance will cover up to the liability amount of coverage the person had on their policy, the driver will be liable for the remainder.
That driver can definitely expect his/her premiums to go up, and should not at all be surprised when the insurance company drops them as a customer.
2007-04-05 15:40:29 · answer #5 · answered by Dallas_Gay 4 · 1⤊ 1⤋
These are questions best asked of your agent, but generally the insurance will cover up to the limit of your policy, and anything over that will be your responsibility.
Absolutely, anytime you have caused a loss to your insurance you can almost bet your rates will increase as a result of that.
2007-04-05 15:40:28 · answer #6 · answered by oklatom 7 · 2⤊ 0⤋
Your insurance will pay all of it except the deductible. THis crap about needing a lawyer is bogus, you have insurance and they will negotiate a settlement for you. This is why you pay them too much,
2007-04-05 15:48:43 · answer #7 · answered by Uncle Red 6 · 1⤊ 1⤋
the other person insurance pay from there policy under there bodily injuries. now if there don't have insurance you can sue them.
2007-04-05 16:04:43 · answer #8 · answered by ***you 3 · 0⤊ 0⤋