Crash victims injured by the negligence of another driver may seek to recover compensation for their medical costs and other losses through an injury claim against the liable party. However, what if the damages resulting from your Chattanooga car crash claim exceed the limits of the available insurance policy?
This article discusses more about insurance policy limits and other avenues crash victims may have for seeking compensation for their damages.
If you have been involved in a car accident, our compassionate and knowledgeable legal team at Massey & Associates are ready to help you. We have been helping injured victims for decades and have extensive knowledge of all potential sources that may be available to crash victims, even when insurance falls short.
Injured in a Tennessee car crash? Contact our experienced car accident lawyers in Chattanooga today. We offer a completely free consultation, and there are no upfront costs to hire our services.
What Are Insurance Policy Limits?
Insurance policy limits are the maximum amount an insurer will pay for a covered claim. These limits are typically specified in your policy and are divided into categories, such as property damage, bodily injury per person, and bodily injury per accident.
For example, a policy might cover up to $25,000 per person for bodily injury and $50,000 per accident, meaning it will pay a maximum of $25,000 for each injured person and a total of $50,000 for all injuries in one accident.
Understanding these limits is crucial because if your damages exceed them, you’ll need to seek additional compensation through other means, such as the at-fault driver’s personal assets or your own underinsured motorist coverage. This is why we always recommend carrying more than the minimum required coverage and thoroughly reviewing your policy limits with an experienced attorney after an accident.
When Is filing a Lawsuit For a Car Crash an Option?
Victims can file a lawsuit against the at-fault party’s insurance for up to a year after the accident. This process involves filing your suit within the statute of limitations set by Tennessee.
Filing a lawsuit typically becomes necessary when insurance companies refuse to offer a fair settlement, deny your claim or when your damages exceed the at-fault driver’s policy limits.
What If the Damages From My Car Crash Exceed Insurance Limits?
When the at-fault driver’s insurance isn’t enough to cover your car accident damages, you can first look to your own underinsured motorist coverage for additional compensation. You may also be able to tap into multiple insurance policies if more than one party was responsible for the crash – for example, if both a distracted driver and a vehicle with defective brakes contributed to your accident.
Another option is filing a lawsuit against any other parties who may share liability, such as vehicle or parts manufacturers if a defect played a role in the crash. You can also pursue the at-fault driver’s personal assets through legal action, though this typically depends on whether they have significant assets that could be used to satisfy a judgment beyond their insurance limits. An experienced personal injury attorney can help investigate all potential sources of compensation to ensure you receive the maximum recovery possible.
Need Assistance Opening a Case?
If you have been involved in a car accident and are struggling to recover the full amount for your damages, we want to help you.
Massey & Associates has decades of experience helping car crash victims, and a history of proven results. We help our clients navigate the complexities of insurance claims and legal actions. Our team is dedicated to securing the compensation you deserve and protecting your rights.
Call our Chattanooga law office today to discuss your situation in a free consultation. Our knowledgeable lawyers are here to guide you through every step of the process, providing the support you need to move forward. Do not wait—reach out to us now.
Gary Massey, Jr., is a well-known courtroom advocate practicing law in Chattanooga, Tennessee. Gary is a native of Tennessee who began practicing law in 1998. He graduated from Cumberland School of Law where he was ranked in the top 3% of his class and was an editor of the Cumberland Law Review.
