When pursuing a personal injury claim, the claimant and/or their attorney usually go for the full policy limits, or a settlement amount that falls under the policy limits. This is in the event that the policy limits will cover any damages incurred on an injured party. But what happens if damages go beyond the policy limit? Most claimants do not think they can pursue anything behind policy limits. Which makes total sense because they are limits. Which typically means you can’t go beyond a specific point. However there are some instances in personal injury cases where the claimant can request or be granted compensation beyond an insurance companies policy limits.
There are a few ways that this can happen.
1. When there are more than one parties that are responsible for damages.
2. There are also some cases where one individual has several other insurance coverages. A claimant can pursue the additional companies.
3. Some people may file a lawsuit directly to a defendant and not their insurance company at all.
It is not unusual for an injured party to pursue compensation for any injury they sustained due to the negligence of another party. By pursuing a personal injury claim the injured party can have their medical bills covered, lost wages paid, pain and suffering paid for, as well as many other things. Not every damage can be narrowed down to a specific dollar amount. and those damages that do you have specific dollar amounts or sometimes neglected due to policy limits with an insurance company. So it is understandable for an injured individual to want to know their options beyond insurance policy limits.
Policy limits are put in place when an individual purchases an insurance policy. This policy lets the insured party know how much an insurance company will pay out should there be any at fault claims filed against them. By knowing what the policy limits are when you pursue a personal injury claim you know what your caps is, and how much money you can potentially receive once your case settles.
In the event that the details of your claim go beyond the insurance companies policy limits you still have options. In most cases not everyone is held responsible. If there are multiple outfall parties a claimant can pursue each party’s policy limits. Well the amount is not guaranteed these entities can still be pursued.
In the event that there is only one at fault party, that individual may have more than one insurance policy. This is called umbrella policies. For example if you were involved in an auto accident with someone in a work van. You can pursue their employers insurance as well as their own personal insurance.
And lastly, while it is not guaranteed, you can pursue the at fault individual directly. Funds are not guaranteed or laid out like they are in an insurance policy so this may be a tad bit difficult but still possible.
Nonetheless, should you or someone you know be involved in an auto accident with someone that lead to injury, you should speak with a personal injury attorney in Atlanta, GA about your options in pursuing a claim.
Thanks to Andrew R. Lynch, P.C. for their insight into personal injury claims and benefits of having an attorney.