Each year more than 32,000 people are killed, and 2 million are injured each year from motor vehicle crashes. Car accidents resulting in serious injuries often lead to large settlements that may exceed the policy limits. Although this isn’t common in Florida, it does occur. This is particularly true for cases involving severe injuries and significant property damage.
Florida drivers are mandated by law to carry a minimum amount of insurance coverage. However, these minimums may cover the total damages resulting from a severe accident. Cases involving the following catastrophic injuries can exceed policy limits:
- Traumatic brain injuries
- Spinal cord injuries
- Wrongful death.
When cases lead to substantial medical bills, long-term care needs, and significant pain and suffering, they can surpass standard insurance limits. If you’re unsure whether or not your injuries will be covered, consider consulting with experienced car accident lawyers.
What To Do If Your Car Accident Exceeds The Policy Limits in Florida
If your insurance coverage isn’t sufficient to cover your injuries, you may seek additional compensation from the following sources:
- Uninsured or underinsured motorist coverage can bridge the gap between at-fault driver’s policy limits and your damages.
- The assets of the at-fault driver can be used as compensation via a personal injury claim.
- Third-party liability coverages can help when an employer (if the driver was working at the time of the accident) or a vehicle manufacturer (in case of a defect) can be held partially liable.
Keep in mind that most injury settlements fall within the limits of the policy. Seasoned Florida personal injury lawyers recommend working with Englander Peebles because they have experience combating the devastating effects of personal injury. They can help your family find alternative damage compensation when the policy reaches its limit.
Florida Car Accident Claims
Florida is a no-fault state, so your initial claim will be with your insurer. Personal Injury Protection (PIP) typically covers up to 80% of your medical bills and 60% of lost wages, or $10,000, regardless of who is at fault.
However, if your accident causes severe injuries like significant disfigurement, bone fractures, or permanent injuries, you can file a claim against the at-fault party for additional damages. It can be essential to work with a diligent attorney because your time is limited due to Florida’s statute of limitations on personal injury claims. Although it is uncommon to receive compensation exceeding policy limits, if significant injuries are caused at no fault of your own, you could be entitled to compensation.
Car Accident Settlement in Florida
Your Florida car accident settlement can vary based on the severity of your injuries, property damage, and additional factors like loss of earnings. Settlements are then used to cover medical expenses, property damage, pain and suffering, and lost earnings.
Maximizing Your Florida Car Accident Settlement
If you’ve suffered a severe injury, you could exceed your coverage limits on your first day in the hospital. If your accident damages exceed your car insurance, it can have an exponentially negative impact on your family.
If you meet the serious injury threshold, experienced attorneys can help you file a claim with the at-fault party’s insurance company. If your injuries are so severe that you exceed the negligent party’s insurance coverage, you will have to explore some of the following additional options.
- If the at-fault driver covers an umbrella liability insurance policy, this could become active once all other auto insurance policies have been exhausted. This is more likely to be true if an employee of a large business or corporation injures you.
- Employer coverages may cover the additional expenses you face when someone is working while causing you an accident. This can apply to someone making a delivery, certain ride-share or taxi services, or someone acting in the roles of the duty of their employment.
- If you were injured by a vehicle owned by someone who wasn’t driving, they could also be held liable for your injuries. Vehicle owners can be held responsible for the negligent use of the vehicle, even if they are not present or driving in the accident.
- If your accident situation involves multiple parties, perhaps there were three or more drivers in the accident, or a local municipality is responsible, or there was a vehicle defect in play, your legal team can help hold all potentially liable parties accountable for the injuries their negligence has caused.
Although it’s not common for car accident settlements to exceed the limits of your coverage, it does happen. If this occurs, adept car accident lawyers can help you recover the compensation you need to recover your life.