This is a form notice to the insurance carrier of a person involved in a motor vehicle accident.
This is a form notice to the insurance carrier of a person involved in a motor vehicle accident.
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Insurance Policy Limits and Medical Bills After a Car Accident. If your medical bills exceed the defendant's auto policy limit, the defendant is still legally liable for the full amount of your damages. You can seek compensation directly from them or from an umbrella insurance policy if they have one.
Your Personal Assets and Umbrella Policies If you have no auto insurance or insufficient liability coverage for damages in an accident you've caused, the victim can sue you for all damages or for the amount that your insurance does not cover. If the victim gets a judgment against you, you must pay with your own assets.
Yes, you may seek more compensation from the liable party than their insurance policy permits. That would require suing the person directly for additional damages. These situations are not wholly uncommon.
THE LAW HAS BEEN AMENDED TO REQUIRE INSURERS TO PROVIDE UNDERINSURED MOTORIST COVERAGE THAT PAYS ANY DAMAGES DUE TO AN INSURED IN ADDITION TO ANY BODILY INJURY OR PROPERTY DAMAGE LIABILITY THAT IS APPLICABLE TO THE INSURED'S DAMAGES.
It is illegal to drive a car in Virginia without at least the minimum amount of liability coverage required by law: Bodily injury: $30,000 per person and $60,000 per accident. Property damage: $20,000 per accident. Uninsured motorist bodily injury: $30,000 per person and $60,000 per accident.
Virginia is, in fact, an at-fault state, which means the driver whose negligence caused your accident is responsible for compensating you. Virginia does not require insurance on every registered vehicle. If the driver who caused your accident is covered, you can request compensation from their insurer.
The new law allows ?stacking? of uninsured motorist and underinsured motorist coverage, known as ?UM/UIM? coverage. UM/UIM coverage protects you if the negligent driver that causes an accident does not have any car insurance or does not have enough to cover your damages.
ONCE ANY ONE NAMED INSURED REDUCES THE POLICY LIMITS FOR UNINSURED/UNDERINSURED MOTORIST COVERAGE BELOW THE POLICY'S LIABILITY LIMITS, THAT ELECTION IS BINDING ON ALL INSUREDS ON THE POLICY. LATER, IF YOU DESIRE TO INCREASE YOUR LIMITS, YOU MUST MAKE A SPECIFIC REQUEST TO YOUR INSURER.