As an injured driver in Florida, you have the right to compensation for losses caused by the negligence of another driver. However, your legal options can become complicated when the at-fault driver’s insurance is insufficient to cover your damages. Understanding what happens when a claim exceeds policy limits is crucial to making informed decisions about your case. In this article, you will learn about Florida laws governing underinsured claims, how insurers handle excess judgments, options for pursuing additional damages, and steps to strengthen your position during settlement negotiations when policy limits are inadequate. With the right information, you can develop an effective strategy for obtaining full compensation after a serious auto accident in Florida.
Understanding Insurance Limits in Florida Auto Accidents
In Florida, drivers are required to maintain minimum liability coverage for bodily injury and property damage. Bodily injury liability coverage provides compensation if you injure or kill someone in an accident. The minimum coverage is $10,000 per person and $20,000 per accident. Property damage liability coverage pays for damage to the other vehicle and property in an accident, with a minimum of $10,000.
PIP and Personal Liability Coverage
Personal injury protection (PIP) coverage pays for medical expenses for you and your passengers after an accident, regardless of fault. The minimum PIP coverage is $10,000. Higher limits, such as $25,000, provide more comprehensive coverage. Personal liability coverage protects your assets if you are sued. Umbrella policies provide additional coverage once the underlying auto policy limits are reached.
Exceeding Coverage Limits
If the total value of claims from an accident exceeds your coverage limits, the other parties may pursue legal action against you to recover damages. Any amount owed above the coverage limits becomes your personal liability. To avoid this situation, consider purchasing higher coverage limits, especially if you have significant assets to protect. Higher limits also provide more compensation for serious injuries.
Consult with an insurance agent to determine appropriate coverage limits based on the value of your assets and risk tolerance. While minimum coverage meets state requirements, it may not adequately protect you in the event of a serious accident. Purchasing optimal coverage limits and an umbrella policy can help ensure your financial security.
What to Do When the Other Driver’s Insurance Won’t Cover Your Damages
When an at-fault driver’s insurance coverage limits are insufficient to cover the damages from an accident, you have options to recover the remaining costs. First, you should file a claim with the at-fault driver’s insurance company for the maximum amount allowed under their policy. However, this may only cover a portion of your total damages, leaving you responsible for the remaining costs.
In this case, you may need to take further action. If you have uninsured motorist coverage on your own auto policy, you can file a claim with your insurance company to help pay for damages exceeding the other driver’s coverage limits. Your insurance company may then pursue the at-fault driver to recover the amount they paid out.
If uninsured motorist coverage does not fully cover your damages or you do not have this coverage, you can file a lawsuit against the at-fault driver to recover the remaining costs. While lawsuits can be time-consuming and expensive, they may be necessary to gain full compensation, especially for major injuries or property damage. Consult with an attorney regarding your legal options and the merits of your specific case.
Even if the at-fault driver’s insurance pays the maximum amount under their policy, they typically remain personally responsible for damages exceeding their coverage limits. A court may order them to pay some or all of the remaining costs, depending on their ability to do so. However, collecting funds from individuals can be challenging, as they may lack the means to pay sizable damage awards. For the best chance of recovering full compensation, you should pursue all available insurance resources before filing a lawsuit against an individual.
Strategies for Maximizing Your Settlement When Limits Are Exceeded
Seek Additional Compensation Through Health Insurance
If the at-fault driver’s liability coverage is insufficient to cover your medical expenses and lost wages, you may need to utilize your own health insurance policy. Most health insurance plans allow you to submit claims for injuries from an auto accident. While you will still be responsible for out-of-pocket costs like deductibles and co-pays, health insurance can help offset costs that exceed the other driver’s limits.
Hire an Experienced Attorney
An attorney who specializes in personal injury and auto accident law can help identify all possible sources of compensation in your case, including from the at-fault party’s assets. They can also help negotiate with insurance companies to maximize the settlement amount within policy limits. When limits have been exceeded, an attorney is especially important to handle the complex legal issues involved. They can determine if the at-fault driver has additional coverage or personal assets that may be utilized.
Consider Pursuing a Bad Faith Claim Against the Insurance Company
If it appears the at-fault driver’s insurance company did not handle your claim properly or refused to reasonably settle within policy limits, you may have grounds for a bad faith lawsuit against them. Bad faith claims allege the insurance company failed to act in good faith while handling your claim. They can result in compensation above policy limits. However, bad faith cases are complex and should only be pursued under the counsel of an experienced attorney at Goldman, Babboni, Fernandez, Murphy & Walsh.
With the help of health insurance and legal counsel, you can identify all potential sources of compensation following an accident where damages exceed the at-fault driver’s policy limits. Negotiating firmly with insurance companies and, if necessary, pursuing further legal action against them can help maximize your settlement and ensure you are fairly compensated. But patience and persistence are required, as the process can often be lengthy and complicated.
Do You Need An Automobile Accident Attorney?
Severe Injuries Merit Legal Counsel
Victims who have sustained serious injuries in a vehicle accident may want to consider hiring an automobile accident attorney to represent them. While Florida law does not require legal counsel for a car accident claim, the complexity involved in cases of permanent injuries or disabilities often necessitates experienced legal guidance. An attorney can handle time-consuming tasks like negotiating with insurance companies, filing a lawsuit if necessary, and ensuring you get proper compensation for medical bills, lost wages, pain and suffering.
Insurance Settlements May Not Cover All Costs
If the total costs from your injuries exceed the maximum coverage limits of the at-fault driver’s auto insurance policy, you will likely need an attorney to pursue further legal actions. Auto insurance policies in Florida are only required to provide minimum coverage of $10,000 per person for bodily injuries. Medical care and rehabilitation for severe injuries can easily surpass this amount. An attorney can file a lawsuit against the at-fault driver to obtain a settlement that covers the full scope of your financial losses.
Experience Matters in Complex Cases
Automobile accident attorneys have the knowledge and experience to handle complicated car accident claims. They understand the nuances of Florida personal injury law and work with medical experts to build a strong case. While no attorney can guarantee a win in court, a skilled car accident lawyer will fight to maximize your settlement and get you the fairest outcome possible. For challenging cases that proceed to trial, an attorney is essential to presenting persuasive evidence and arguments before a judge and jury.
Victims of a car accident in Florida should consider hiring an attorney if they have sustained severe, permanent injuries or if costs are likely to exceed the at-fault driver’s insurance limits. An experienced automobile accident attorney can help you pursue the maximum compensation available under the law.
FAQs: Answers From Local Car Crash Lawyers Near Me
What happens if the at-fault driver’s insurance coverage is not enough to cover my damages?
If the at-fault driver’s insurance limits are insufficient to fully compensate you for the damages and injuries from the accident, you have the right to pursue further legal action. Under Florida law, the at-fault driver is personally responsible for paying damages beyond their insurance coverage. You can file a lawsuit against the driver to recover the remaining amount owed to you.
Can I sue the at-fault driver directly?
Yes, you have the right to sue the at-fault driver in civil court to obtain full compensation for your losses. In a lawsuit, you can recover damages such as medical bills, lost wages, pain and suffering, and property damage that exceed the driver’s insurance limits. However, lawsuits can be time-consuming and expensive. It is best to first try to negotiate a fair settlement with the insurance company and at-fault driver before pursuing litigation.
What types of compensation can I recover in a lawsuit?
In a car accident lawsuit, you can seek both economic and non-economic damages. Economic damages refer to quantifiable losses such as medical expenses, lost income, and property damage. Non-economic damages include pain and suffering, emotional distress, loss of enjoyment of life, and other intangible losses. The precise amount of compensation will depend on the specifics of your case and injuries. An experienced car accident lawyer can help determine appropriate damages and negotiate the maximum settlement for your claim.
How long do I have to file a lawsuit after a car accident in Florida?
Florida’s statute of limitations gives you four years from the date of the accident to file a personal injury lawsuit. However, it is in your best interest to pursue legal action as soon as possible while evidence and witness memories are still fresh. Waiting too long could jeopardize your ability to obtain fair compensation, as critical evidence may become unavailable. It is best to consult with an attorney within a few months of the accident at the latest.
Contact Goldman, Babboni, Fernandez, Murphy & Walsh if your car accident claim exceeds insurance limits in Florida.
Over 100 Years of Combined Experience
Goldman, Babboni, Fernandez, Murphy & Walsh is a leading personal injury law firm in Florida with over 100 years of combined experience. Their attorneys are highly knowledgeable in Florida insurance law and can help victims recover compensation even when a claim exceeds the at-fault party’s insurance coverage limits.
Recovering Compensation Beyond Policy Limits
After a serious auto accident in Florida, the at-fault driver’s liability insurance coverage may not be enough to fully compensate the victim for losses and damages. However, the experienced attorneys at Goldman, Babboni, Fernandez, Murphy & Walsh have a proven record of recovering compensation from other sources, such as the at-fault driver’s personal assets or an uninsured/underinsured motorist policy.
Handling Catastrophic Injury and Wrongful Death Claims
In the tragic event of a catastrophic injury or wrongful death due to a motor vehicle collision in Florida, Goldman, Babboni, Fernandez, Murphy & Walsh can pursue all available legal options to help the victim or their loved ones obtain fair compensation under the law. Their attorneys are highly skilled in handling complex personal injury and wrongful death litigation, including cases that exceed the other party’s insurance coverage.
Victims of motor vehicle accidents in Florida should contact Goldman, Babboni, Fernandez, Murphy & Walsh as soon as possible after an incident resulting in serious injury or death. Their experienced attorneys can evaluate the details of an individual case, determine all parties potentially at fault, and initiate legal action to pursue compensation for losses such as medical bills, lost wages, pain and suffering, and wrongful death. With a proven track record of success in obtaining compensation beyond insurance policy limits, Goldman, Babboni, Fernandez, Murphy & Walsh is fully equipped to help victims even in the most catastrophic of circumstances.
As we have explored, when a car accident claim exceeds a driver’s insurance policy limits in Florida, the injured party may be able to pursue additional compensation. Understanding your own insurance policy and coverage, as well as being aware of the other driver’s policy limits, can help you make informed decisions after an accident. While Florida is a no-fault insurance state, there are still options, like pursuing the at-fault driver’s personal assets, that may allow you to recover damages above their coverage maximums. With the assistance of an experienced Florida attorney, you can evaluate all avenues to receive full and fair compensation after a serious accident. Being proactive and seeking legal counsel promptly are key steps to take to protect yourself when damages exceed available coverage.
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