The Importance of Making a Policy Limit Demand If You Are Injured in a Car Crash
Few people are prepared for the financial hardship created by an unexpected car accident. If you are seriously injured, you may be unable to work, making it even more difficult to pay your medical bills or living expenses. When another person is responsible for the accident, you are entitled to compensation. However, determining the value of your claim can be challenging without legal representation.
At the Karam Law Office, we help car accident victims, and their families obtain full and fair compensation from liable parties. We stand up to insurance companies that deny valid claims or downplay injuries to avoid paying policy limits. If you have been injured in a car accident, contact our office today at (832) 859-8453 to schedule a free case evaluation.
What Are Policy Limits?
Policy limits are the highest amount an insurer will pay on a particular claim. In Texas, all drivers are required to have liability insurance. Liability insurance covers other parties who are injured or suffer property damage as a result of a car accident that you caused.
In Texas, mandatory minimum liability coverage is:
- $30,000 bodily injury per person
- $60,000 bodily injury per accident
- $25,000 for property damage
The insurance company of an at-fault driver will pay out a maximum of the above amounts to individuals who suffer losses due to their insured’s negligence or recklessness.
Many people (or their employers) carry over the mandatory minimum insurance requirements in order to protect themselves from personal liability. Therefore, the policy limit could be significantly more than the minimums required by state law.
What Is a Policy Limit Demand?
A policy limit demand is a notice sent to the insurance company requesting that they pay the full amount available under the policy. A policy limit settlement is usually granted when someone has serious injuries.
Why Do I Need an Attorney?
Insurance companies routinely attempt to get injury victims to settle for less than their case is worth. The average person may not know to send a policy limit demand or even the amount they should ask for based on their losses.
An experienced car accident lawyer will review your case and all applicable insurance policies. They will then help you to understand the legal process and what the value of your claim would be if it were to go to trial. An attorney can then send a policy limit demand on your behalf or enter into negotiations for a settlement.
It is important to remember that there may be more than one liable party and more than one insurance policy involved. Failing to make a claim against all responsible parties and their respective insurance policies may affect your right to recovery.
How You Can Protect Yourself
In some cases, a person’s losses may exceed the policy limits of an at-fault driver. It is vital to carry additional insurance to protect yourself after an accident.
For instance, Uninsured/Underinsured (UM/UIM) Motorist Coverage covers you in the event that the other driver was uninsured, you were the victim of a hit and run, or if the at-fault driver had insufficient insurance to cover all of your damages.
Why You Should Not Sign Anything
In order to obtain the financial recovery you need and deserve, you should never sign anything from the insurance company without first consulting an attorney. Insurance companies may try to get you to settle for as little as possible. Injured parties with legal representation are far more likely to get a policy limit settlement than those without an attorney.
Get the Compensation You Deserve After a Car Accident
Attorney Jacob Karam can help you get fully compensated for all of your losses, including medical bills, lost wages, and pain and suffering. He will fight the insurance company, so you don't have to. Call the Karam Law Office today at (832) 859-8453 for a free, no-obligation consultation.
Contact our office to get the legal help you need now. We will provide a detailed case evaluation at no cost and without the obligation to retain our services.