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Hi - my name is XXXXX XXXXX I'm a litigation attorney here to assist you.
There's no need to do anything until you get sued, and when that happens, you need to turn in the claim to your insurance company.
If she does sue, your insurance company should be responsible for any amount awarded to her (within policy limits). No attorney seeks to collect more than policy limits because funds aren't guaranteed above that amount because the indivudual - not the insurance company - is responsible for that amount, and most people don't have lien-free property to pay any judgment.
sorry, but I do not understand when you said that the individual not the insurance company is responsible for that amount. What amount? Also What do you mean that most people do not have lien-free property to pay any judgement. Thank you again
Sorry if I confused you.....
If you are sued and a judgment is entered against you, the insurance company must pay the judgment up to the amount of policy limits. In the event that a judgment was entered above your policy limits, you would be responsible for that amount. However, during my practice, I have never seen a plaintiff's lawyer seek more than the amount of the policy limits.
Most things people have with any value are usually mortgaged or have liens against them - like a house, car, boat, real estate, etc. This makes collecting diffcult - if not impossible. Also, there are property exemptions that protect certain property from judgment creditors, which makes it even more difficult for a creditor to collect from the individual. Here are the exemptions for NJ: http://www.bcsalliance.com/debt1_newjersey.html
thank you so much for your help. one more question, if the insurance company pays, who reimburses tthe insurance co?As an example my insurance co pays them $50,000 and they sue for more, am I then responsible for more money out of pocket? And what if the injuries are made up and have nothing to do with the accident? What Then? Is there a time limit on this matter. I tought it was 90 days from the date of the accident. Obviously it was more then one question. (hee) Once again, are you sure that I should not consult with a civil lawyer first.
Thanks so much Kirk, I know I probably sound stupid, but in this one instance I am just at a loss as to what to do. Can they take away my social securit disability benefits.
No one reimburses your insurance company - you pay premiums for coverage, and they cover you (this isn't like a bond where the principal has to reimburse the bonding company if it pays out a claim - insurance is different).
Your insurance company will pay/cover you up to the amount of your policy limits. I would not worry about having to pay anything out of pocket over this - your insurance should be adequate to cover any claim. If what you said is true, it doesn't sound like she was injured very bad, and she will have to prove that her injuries and condition was caused by the accident (this will take a doctor to establish). If she can't establish these injuries are related to the accident, she can't sue you over it.
The woman has up to 2 years from the date of the accident to sue under New Jersey law.
You can consult a lawyer, but if you're sued, the insurance company is going to provide you an attorney as part of your defense - your premium pays for this as well.
Your SS benefits are not available to the creditor - they are exempt from any collection.