If you have been involved in a car accident, you may want to learn more about car insurance details and how they may impact your personal injury claim. Alaska State has Mandatory Insurance Statutes that requires most vehicles to have a car insurance policy. The policy has to meet specific minimum coverage requirements. Meaning, when involved in an accident, both involved parties’ insurance policies have to come into play.
Unfortunately, not every car owner is aware of their insurance policy details and how the policies may deter or allow favorable compensation once he/she is involved in an accident. .
One major question asked by plaintiffs after a car accident is whether they can collect damages beyond the at fault driver’s insurance coverage limits. The answer to this is that it depends on the situation.
When you buy an insurance policy, there is always a limit that the insurance company is responsible for paying you, in case of any losses stemming from an accident that is covered under the policy. Insurance companies are known to compensate the injured victim up to their insured limit. But in some cases, getting compensated beyond the policy limits is possible. In such a case, there are many ways that a lawyer can help a victim recover damages. However, not every lawyer can handle such cases. For a successful case, you can reach out to leading attorneys in Wasilla Alaska who can help you get through such matters. Since Alaska is a fault system, you can expect the defendant to become financially liable for all the property damage and injuries you may have suffered as a result. This will be possible through the defendant’s insurance up to their policy limits. If your situation is severe enough to demand damage recovery beyond the policy limits, you will have to consider filing your personal injury claim under the below two ways:
File a claim with your own insurance company. Later, the insurance will file a subrogation claim against the at-fault driver’s insurance company.
File a third-party claim.
In any way you may wish to file your claim, you can get compensated depending on whether your incident is covered under such policy and it falls within the limit. But if your damages are way higher and you need more pay, you may get compensated beyond the insurance policy limits.
To prevail in any of the above options, you will need the right evidence to show that the at-fault driver caused your injuries. That way, you may also have a claim if the insurance company tries to act in bad faith. You may consider getting legal advice from a lawyer who understands car accident claims and bad faith failure to settle . Bad faith will exist if the insurance company cannot show why they denied your claim or offered a low settlement for your case.
When To Collect Damages Beyond The Insurance Policy Limits
There are many ways to collect more than the policy limits. Some include:
Recovery under the umbrella insurance policy. If the defendant has an umbrella policy that covers all other policies they may have, your lawyer can determine how this may be used in your case. Umbrella policy takes over when all other procedures are exhausted up to their original policy limit.
File a claim to more than one defendant. You can focus on collecting damages from other defendants who may have negligently caused your injuries. For instance, if you can prove that some of your injuries resulted from a faulty seatbelt, you may have a claim against the manufacture and the driver.
Collect damages directly from the defendant: Collecting damages from the defendant can be difficult when he/she has no enough money or assets. However, there are other options to this; you can decide to go to court and have the judge issue orders for wage garnishment or sell out any assets. If the defendant has no assets or money, it becomes hard to obtain any compensation over and beyond the policy limits.
A Car Accident Lawyer Will Help
If you‘re in a situation that demands you to collect compensation beyond the insurance policy limits, you may consider speaking with an experienced car accident lawyer. If your lawyer determines that your case requires such compensation; he/she will tirelessly see that you get reasonable compensation. Also, if you had tried to seek compensation with the above mentioned ways, but you hit a dead-end; such a lawyer can help you take your case to court and have the judge issue orders of payment, such as having the assets auctioned or any other method to recover money.
As easy as the ways to collect compensation above the policy limits may seem easy, you will need to have some legal representation to obtain a favorable verdict.