What if the at fault party doesn’t have enough insurance to pay my claim?

When the at blame party has $ 10,000 of indebtedness coverage to pay your claim, and your claim is worth more than that, what can you do ? It is advisable to constantly carry uninsured or under insured motorist coverage to pay for the claim you have that exceeds the coverage the at fault party has, but if you ’ ve already had your accident and are without this important coverage, you need Higgins Law, LLC to make certain you were offered this coverage and that you wittingly waived the coverage. If you did, you can sue the person who caused the accident individually when his indemnity is insufficient to pay your claim, but many lawyers are not volition to do indeed, because they know that neither you nor they are probably to ever be paid anything for any opinion you get from this suit. It ’ s not that the defendant is not at blame, but it is the coarse sense about the insurance coverage, i.e. an at blame party who bought $ 10,000 worth of indemnity probably did so because he had nothing to lose by not buying more coverage than that, i.e. he isn ’ metric ton ample adequate to pay any title that exceeds the policy coverage. He is “ bad : ”. Florida is often referred to as a “ Debtor ’ s Haven ” for good reason. Florida is one only a hand fula of states where you can own a home of inexhaustible value and rest assured that no one can sell it out from under you to pay an unguaranteed debt, like a judgment from a lawsuit over an automobile accident, i.e. your title that exceeds his policy policy limits. Florida ’ south state Constitution Article V provides Florida residents with a homestead exemptions that exempts or protects most homes from being sold to pay an unbarred debt. So the fact that the at fault driver lives in and owns a beautiful paid off base does NOT mean you can force him to pay your claim. Its pretty a lot irrelevant.

The at blame party may have been driving a beautiful fresh car, but that doesn ’ t mean he has the money to pay a call either. He may have a lien on the car from the car loanword he got when he bought it, indeed even if you got a judgment against him and the estimate allowed you to take his car and sell it to pay that opinion, you would have to pay the lien holder first gear, and such sales frequently fetch only half the value of the car while the lien is typically more than half the value, meaning there is no equity in the vehicle to pay anything toward your judgment.

But what if he is deep, and his cars are all paid off ? People who are deep have to think about how to keep their money and assets safe. Often they have thought about this long before the accident and either intentionally leased their vehicles, or put them in an bad person or company name, or taken other steps to protect their assets. One of the significant steps they normally take is to buy more indebtedness coverage on their car policy then in the event they are in an accident, their policy will pay the claim so their money and assets are not put in damage ’ second way to pay your judgment. What we can deduce from this is that a person with only $ 10,000 minimal liability coverage on their vehicle is normally a person who has no money or assets to worry about misplace, i.e. he has nothing for you to take to pay your judgment, and consequently, after an assets check, you may decide that suing him individually is a lay waste to of meter and money, but do the assets check to make sure. You never know otherwise.

To get all you deserve from the incorrect that you have suffered through no defect of your own, hire the Higgins Law, LLC to pursue your claim for you. We make them pay. You ’ ve suffered adequate without having to try to wade through all the intricacies of indemnity law to obtain your benefits. Call nowadays. Our goal is your peace of mind.

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Category : car insurance questions