What happens when a car accident claim exceeds insurance limits?

Understanding your options is crucial if you find yourself in a situation where damages from an accident surpass the at-fault party’s coverage.

Lafayette Car Accident Lawyer is equipped to guide you through these challenging circumstances, ensuring you explore every avenue for adequate compensation. Keep reading to learn more about insurance limits and their impact in Lafayette, then call (337) 541-0769 to schedule your free consultation today.

what happens when car accident claim exceeds insurance limits

Understanding insurance limits and their impact

When an accident occurs, insurance policies have set limits that cap the amount the company will pay. These limits are outlined in the policy agreement and are often split into per-person and per-accident limits for bodily injury and separate limits for property damage.

Statutory minimums in Louisiana

Louisiana law requires drivers to carry minimum liability insurance to cover injuries and damages they cause in an accident. The current minimums are:

  • $15,000 for bodily injury or death of one person in an accident
  • $30,000 for bodily injury or death of more than one person in an accident
  • $25,000 for damage to someone else’s property

What to do when damages exceed insurance coverage

Filing a claim against the at-fault driver

When insurance limits are not enough to cover the costs of your damages or medical expenses, you can file a lawsuit against the at-fault driver. In such cases, the driver would be responsible for paying any amounts that exceed their insurance coverage out of their assets.

Seeking compensation through underinsured motorist coverage

If you have underinsured motorist (UIM) coverage, this part of your policy can cover the shortfall. UIM coverage kicks in when the at-fault driver’s liability limits are too low to cover the medical bills and damages.

How Lafayette Car Accident Lawyer can help

Assessing all available insurance coverage

Our car accident lawyers can help by thoroughly investigating all available insurance coverages. This includes the at-fault driver’s policy, your underinsured motorist coverage, and any other applicable policies, such as umbrella policies.

Negotiating with insurance companies

Lafayette Car Accident Lawyer has experience negotiating with insurance companies to maximize the compensation you receive. They can handle communications and negotiations, ensuring your claims are aggressively pursued.

Pursuing legal action when necessary

If negotiations do not result in a satisfactory outcome, Lafayette Car Accident Lawyer is prepared to take your case to court to seek the full compensation you deserve.

Hurt in a crash? Call us.

When a car accident claim exceeds insurance limits, it does not mean you are left without options. With the help of Lafayette Car Accident Lawyer, you can identify potential sources of compensation, negotiate effectively with insurers, and take legal action if necessary. 

Understanding what happens when a car accident claim exceeds insurance limits helps you prepare for the steps you need to take, ensuring the actions of another driver do not financially burden you. If you were hurt in a crash, don’t hesitate to contact our skilled Lafayette car accident lawyers at (337) 541-0769 today.

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