The Houston Auto Accidents Attorneys at DeSimone Law Office often have cases that run into problems with insurance policy limits. Every policy has limits as to how much they pay. Whereas a trucking company for a truck accident will typically have at least a million dollars in coverage for an injured party’s damages, a negligent individual’s auto policy will typically only have the state mandated minimum coverage limits for any one accident.
Currently, those limits for property damage are 25,000 dollars for all damages to all cars involved in a traffic accident. This limit includes expenses for all repairs, any rental car billing, and any wrecker and storage fees. Normally this amount of money will cover damages to one car, any rental and wrecker and storage fees. If, however, a negligent driver has damaged more than one vehicle, the total amount of the property damages could exceed the 25,000 dollar damage threshold. If this occurence happens, the non negligent party will find that he will not get full compensation for his property damages. Not to mention, he will probably wait for an inordinate amount of time to get paid while the insurance company decides how they will split up the 25,000 dollars between all claimants on the car accident insurance claim. This process can really take a long time when one of the parties has full coverage on their car, as the negligent party’s insurance company waits on a subrogation claim from that party’s insurance company. We have seen this process take up to 3 months. That is a long time to wait to get partial payment on your car damages. One solution is to make sure you have collision coverage on your car as we have discussed in this blog before. Next week, we will discuss how policy limits can affect recoveries for personal injuries.
If you have been involved in an accident where policy limits are an issue, call the lawyers at DeSimone Law Office. We will make sure you get all the money you are entitled to and work our way around any policy limits problems.