I was involved in a rear end situation where I rear ended a motocyclist who ended up running into another car.
The motocyclist suffered bodily injuries and those may exceed my insurance limits
1. I just got a letter from the insurance company stating the same and asking for permission from me to release my policy limits to the other motocyclist. Do I allow them to share the limits ?
2. Do I talk to a lawyer myself or just work with the insurance lawyer ? It so happens that both of our insurance company is the same. Seems like if I use the insurance company lawyer, it would be a conflict of interest. At the same time I do not want to pay any lawyer fees
3. Lastly - how much can they sue me for - if they brought a lawsuit against me ? What is my exposure ?
4. Any other advice
Christian K. Lassen IIPersonal Injury LawyerPhiladelphia, PA ·
Don't give them any information on policy limits. You need the insurance company to settle and release you from all liability.
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Keith Matthew SullivanPersonal Injury LawyerNew York, NY ·
There is no limit to what they can sue you for. The insurance policy protects you up to its limits and not beyond that stated amount. Generally speaking, most plaintiff's lawyers will not seek to exceed the policy limits unless there is additional coverage such as through an umbrella policy. Do not pay for a lawyer. Your insurance company will hire a lawyer on your behalf. This is a benefit that comes with having the insurance policy. If the injury value exceeds the insurance policy, you may consider consulting with a lawyer to help ensure the insurance company settles the claim within the policy so you are not exposed financially beyond the policy limits.
Jennifer H. SeateCar / Auto Accident LawyerRaleigh, NC ·
If you have the option to not release the policy limits, don't. This may give you leverage later.
Your insurance company's attorney is hired to attempt to resolve the claim within your applicable policy limits, usually after suit isfiled. However, if the claim is worth in excess of those limits, you could be personally responsible for any judgment over those limits. I would recommend you consult your own attorney so you can discuss openly with him what your limits of insurance coverage are, what assets you have that could be accessed if the judgment comes in over the limits, and how they could potentially collect from you.
They can sue you for any amout and can attempt to collect all amouts from you personally after the policy limits have been paid. If you receive notice of a lawsuit from the injured person, contact your auto insurance carrier immediately so they can get in contact with their attorney and then you may need to discuss the above information with your own attorney.
You should request that your insurance company hire an attorney to defend you. In order to settle without being sued, you will probably need to disclose the policy limit and if you were sued you would be required to disclose this anyway through the formal "discovery" process. They will probably also want to run an asset check on you to see that you don't have any substantial assets above and beyond insurance with which to pay the claim. All of these issues should be discussed with the attorney assigned to you by the insurance company.
