What if the at fault party doesn’t have enough insurance to pay my claim?
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.
Category : car insurance questions