My property is set at $5000 but I have full coverage on my car. If hte other person has full coverage as well, does my insurance just pay the deductible?
2007-10-17 09:28:33 · 9 answers · asked by bjmarchini 2 in Cars & Transportation ➔ Insurance & Registration
I should be ok this time. the car books out at anada for 4500 retail. raised my limit to$50K today
2007-10-18 01:14:36 · update #1
If you mean that your Property Damage coverage is $5000, then you need to increase that ASAP. If that is your coverage limit it is incredibly low, you should no less than $50,000 and that is low in today's world.
I can't imagine any state dumb enough to set a minimum liability coverage that low, but I suppose there are some out there.
If this is what you mean by the $5000 then you may get stuck paying for any damages over the $5000. Your company will only pay up to the coverage limit of $5000 then the rest can come from you directly.
You company will not just pay the other drivers deductible. If you are at-fault for the accident then your company will pay the entire claim (up to the $5000 limit) to the other driver or their insurance company. The fact that the other driver has full coverage has nothing to with how much your company owes.
If you caused more than $5000 in damages I hope the other company is sympathetic and doesn't sue you for any balance.
Good Luck and raise your insurance coverages
2007-10-17 11:42:16 · answer #1 · answered by fighting saints 6 · 1⤊ 0⤋
Hiya:
When you say your "property" is set at $5000...do you mean your LIABILITY limit?
If so...that's REALLY REALLY low and you may end up having some personal financial exposure (meaning you may have to pay out of your own pocket). Your insurance company will pay all OWED damages UP TO your coverage limit.
Double check your policy coverage limit. Check in with the adjuster. They will/should send you an excess letter if the exposure will exceed your coverage limit.
I hope that is not the case for your sake. Good luck!
~jifr!
2007-10-17 09:50:27 · answer #2 · answered by Jifr 4 · 0⤊ 0⤋
If you are at fault and have full coverage your insurance should be paying for the full repair on both cars and the person you hit should not be paying anything and you would obviously be paying your deductable.
2007-10-17 09:34:55 · answer #3 · answered by JT T 3 · 1⤊ 0⤋
For liability claims there is no deductible. They will pay the full amount to the other driver.
If you filed a claim on your car, for an accident that is your fault, than they will pay for the repair less your deductible.
2007-10-17 10:13:26 · answer #4 · answered by Nate W 5 · 0⤊ 0⤋
If you're at fault, your insurance company pays them the entire amount. The deductible only comes into play when you file a claim. Good luck!
2007-10-17 09:32:58 · answer #5 · answered by Kiffin # 1 6 · 1⤊ 0⤋
if your insurance company has no longer paid something on your behalf there is little they could do. attempt contacting the insurance branch for the state in case you do not get any success via going up the supervisory chain of command. quite a number of the time they have 30 days to make a cost in the event that they have each and every of the information they ought to pay it.
2016-10-04 01:02:35 · answer #6 · answered by ? 4 · 0⤊ 0⤋
You pay the deductable, and your insurance pays the rest.
2007-10-17 09:36:12 · answer #7 · answered by nursesr4evr 7 · 0⤊ 2⤋
5k property damage limits?! what on earth were you thinking?!
You definately are going to be paying for years to come if your involved in an accident yoru at fault for
2007-10-17 12:28:08 · answer #8 · answered by Anonymous · 1⤊ 1⤋
INSURANCE PAYS THE CLAIM AND ANY OTHER DAMAGES BUT YOU PAY THE DEDUCTIBLE.
2007-10-17 10:37:43 · answer #9 · answered by Anonymous · 0⤊ 1⤋