After someone is in a car accident, they may file an insurance claim to recover money to defray the cost of their medical bills, car repairs, and more, depending on the insurance coverage.
A person injured in a crash typically seeks compensation from the at-fault driver’s auto liability insurance. When there is a dispute about liability or about the amount that the insurance company should pay, a car accident claim lawyer at Morgan Collins Yeast & Salyer can help. Our attorneys have the Kentucky Courage™ to stand up to big insurance companies and demand that our clients receive fair settlements.
Most car owners maintain the minimum amount of auto liability insurance required by law. In Kentucky, the auto liability insurance minimum is $25,000 coverage for all claims for bodily injury sustained by any one person, $50,000 for bodily injury sustained by all persons in an accident, and $25,000 for all property damage in any one accident. Alternatively, a policy with a single limit of $60,000 meets the state’s requirements.
What happens if a person injured in a car accident that someone else caused has medical bills that exceed what is available from the at-fault driver’s liability insurance?
How Insurance Policy Limits Work
An insurance policy is a binding contract. In exchange for payment of insurance premiums, the insurance carrier assumes financial responsibility for injuries and other losses the insured individual suffers. The policy explains what is covered and how much it will pay.
The typical 25/50/25 auto liability insurance in Kentucky will pay up to $25,000 for medical bills incurred by an individual who is in an accident caused by the policyholder. If you or your attorney submit substantiated demands for $30,000 in damages for bodily injuries suffered in a car accident, the most you can expect the insurer to pay is $25,000. If you do not have an attorney fighting for a just settlement, the insurer will likely offer less than the maximum amount.
There may be other sources of compensation for your losses in a car accident.
What Happens When a Car Accident Claim Exceeds Insurance Policy Limits?
Once you have recovered all money available from an at-fault driver’s liability policy, there are several other sources of compensation an attorney may help you tap. Among the most promising are:
- Underinsured Motorist Insurance. Uninsured/underinsured motorist insurance is an optional coverage that the injured individual may have and may have overlooked. Underinsured motorist coverage (UIM) is intended to provide some protection when the at-fault driver’s insurance is not sufficient to cover all of the losses suffered by the injured person.
- Additional defendants. A car accident attorney’s investigation may identify other parties legally responsible for a car crash, such as the employer of a driver who was working at the time of the accident or a bar that served alcohol to an underage drunk driver. Compensation also may be sought if they have liability for the car accident.
- Personal Assets. The at-fault driver may agree to pay via their personal assets.
- Trial Verdict. An attorney may take a case to trial, and after winning a verdict, the court could order the at-fault driver’s property seized or enter a judgment lien to satisfy the award.
- Bad Faith Lawsuit. If the insurance carrier had the opportunity to settle the claim for an amount within the policy limits but refused, the insurer may be acting in bad faith in violation of the terms of its contract to protect the policy holder. The insurer may be held financially liable.
Call Our Kentucky Courage™ Attorneys When You’re in Need
It can be intimidating to take on an insurance company after a car accident. But if you’ve been seriously injured by another driver’s negligence, you need a strong legal advocate to stand up for you. Talk to a Morgan, Collins, Yeast & Salyer car accident claim lawyer at (877) 809-5352 right away to set up your free consultation. We bring Kentucky Courage™ to your claim.
