Posted by: Kemmy Law Firm
Dealing with an insurance claim after a car accident is frustrating. You need compensation to get back on your feet, but obstacles from the insurance company and elsewhere may get in your way. Not only will it be hard to put a value on your claim, but you may also run into limitations with the at-fault driver’s insurance policy. People often think that’s the end of what they can recover, but don’t get discouraged. There are options to get more if you have losses that exceed those limits.
If you have significant losses, you need a law firm that knows how to get everything you need and deserve. With a record of success, decades of experience, and offices in San Antonio, Texas; Odessa, Texas; and Hobbs, New Mexico, the Kemmy Law Firm fights for maximum compensation for personal injury victims across the Permian Basin.
An insurance policy limit is the highest amount of money that you can get for a valid claim. Policy limits allow insurance companies to restrict how much they pay out to know their potential risks.
In Texas, all drivers must have liability insurance covering at least $30,000 for injuries per person, up to a total of $60,000 per accident, and $25,000 for property damage. This is called 30/60/25 coverage. That means if you are injured by another driver who has state minimum insurance for bodily injury, their policy limit is $30,000. The insurance company will pay up to $30,000 in medical costs for you. If you have additional costs, you will have to look elsewhere.
In New Mexico, drivers must have 25/50/10 insurance. That means they must have at least $25,000 for bodily injury per person, $50,000 per accident, and $10,000 for property damage. These amounts are often lower than damages in a typical car accident. The Rocky Mountain Insurance Information Association recommends that you have bodily injury liability insurance of at least $100,000 per person and $300,000 per wreck.
If you have more damages than the insurance policy limit, then you have a few options for where you can get additional compensation.
You can look to your own insurance company. If you have full coverage or underinsured motorist insurance, then you can make a first-party claim with your insurance. You can typically make a claim up to the limit of your own policy’s coverage.
Imagine that you have $200,000 in total damages. The other driver might have $100,000 to cover part of your claim. You can file a claim against your underinsured policy to get the remainder of your damages covered. Just remember that you can’t claim more than the actual costs that you had in the accident.
If the at-fault driver doesn’t have enough insurance, you can sue them directly. A personal injury lawsuit will hold them directly responsible for all of the additional damages they caused and their insurance company didn’t cover.
The risk with this is that many people don’t have enough money to cover a severe car accident. Your attorney will need to investigate their available funds, assets, and alternative resources to get you what you need.
If you can’t get the money you need from the at-fault driver, you can seek it from other parties who may also be partially at fault. That might include:
You will need to name all possible parties in your lawsuit. Otherwise, you will be out of luck in obtaining more money once you hit all policy limits.
Although money isn’t everything, it is helpful after an accident that leaves you with significant medical costs and lost wages. If you need help after a car accident anywhere in the Permian Basin, find out how our family of attorneys can help you get the maximum amount of money possible.
An experienced and compassionate personal injury lawyer will review your situation, explain your options, and offer guidance on recovering everything you deserve. There’s no risk because consultations are 100% free, and there’s no cost unless you win compensation.
Get a free consultation. We do not charge up-front fees, and you owe nothing unless you recover compensation.
When you work with us at Kemmy Law Firm, you are working with a family run firm with more than 50 years of combined experience. We are dedicated and successful trial attorneys practicing in West TX, Hobbs, NM, Midland-Odessa, and across the Permian Basin. Our team handles everything from catastrophic injury claims to complex business matters. We are here to fight for you. We dedicate our time and attention to your case and use every resource available to maximize your claim and obtain the best possible outcome.