Policy

Posted: Wed Mar 30, 2011 06:05 am Post Subject:

Ask the adjuster to mail the check for the $10,000. I'm not sure where the confusion is. Unless this is the other person's policy... if so, you might want to mention this.

Let's just assume this is the case. You have two, possibly three options. You can file under your own policy if your have collision coverage (or UIMPD but this is _very_ rare). You can take the $10,000 and call it a day. You can refuse the $10,000 and file suit against the other person. You'd probably obtain a judgement for the full amount of your loss (not guaranteed), the other carrier would pay their $10,000 and you could legally attempt to collect the difference directly from the other party who caused your loss. Different states allow different means of collection.

I guess there is a 3rd option... and you might want to look into this. You could contact the other person and let them know you intend to file suit as their $10,000 is not enough. Ask the person if they are willing to make up the difference. You might offer them a "discount" if they are willing to do this. Might be easier for you to do this then to file suit.

Posted: Wed Mar 30, 2011 06:15 am Post Subject:

Well I am dealing with the other persons insurance company and their policy pay out limit is 10k. is there anything that i can file with my insurance so that they can pay me the difference? But I dont have full coverage.

Posted: Wed Mar 30, 2011 06:16 am Post Subject:

If you don't have collision coverage or UIMPD (UIMPD is extremely doubtful) then no... your carrier cannot help you.

Posted: Wed Mar 30, 2011 06:21 am Post Subject:

So basically my only option is to take the 10k and move on? What if I get a lawyer and go through with the court.

Posted: Wed Mar 30, 2011 06:41 am Post Subject:

The insurance company will not pay you until you win in court. They will provide their insured a defense. You would need to pay an attorney a lot of money to handle your case. They attorney would make good money.... your good money. Your other option is to file in small claims court. But you'd need to see what the max you can file for in small claims court. Keep in mind, you still would need to prove to a judge that you are owed everything you are asking for.

You may still want to speak to the adjuster and let that person know you may reject their offer and file suit against their insured. Ask the adjuster to speak to their insured and see if their insured is willing to pay the difference in order to avoid being sued and having a judgment against them. If they won't pay the full amount, see if they would pay a lesser amount. This costs you nothing and would take very little time.