How Often Do Auto Accident Settlements Exceed the Policy Limits?

Not all car accidents are minor fender-benders with only property damage to vehicles, such as a dented door or crumpled hood. Some accidents are more destructive, resulting in substantial injuries to the involved motorists. After a serious car accident, damages pile up quickly and extend far beyond a dented vehicle. Injury victims may be unable to return to work at the same time that their medical bills begin piling up.

Like most states, Connecticut only requires drivers to carry the minimum liability coverage for their auto insurance with $25,000 per person for injuries and $50,000 total injury coverage per accident as well as $25,000 per accident in property damage. What happens when a Connecticut car accident victim’s damages far exceed the limits of the at-fault party’s auto insurance coverage?

Call (203) 888-8888 to have a no-obligation consultation with a professional New Haven car accident lawyer today.

Most Car Accident Settlements In Connecticut Fall Within the Policy Limits

Insurance companies are not in a hurry to write out large checks. They are private companies in the business of making profits. They legally do not have to pay more than the limits of the policyholder’s coverage so they are unlikely to offer a settlement over that amount.

In Connecticut, that means the most a car accident victim can get in a settlement with the insurance company is $50,000—$25,000 for their injuries and $25,000 for repair or replacement costs for their damaged vehicle. Fortunately, injury victims may have additional options available to them depending on the circumstances of the accident.

What Affects the Amount of Car Accident Damages?

Each car accident is different. The total amount of damages an accident victim faces depends on the severity of their injuries. Common damages listed in car accident claims in Connecticut include the following:

• Property damage to their vehicle and sometimes other belongings such as cell phones
• Emergency medical expenses
• Future medical costs for follow-up care
• Lost wages
• Future income loss
• Compensation for pain and suffering

In some cases, car accident claims seek additional damages such as diminished future earning capacity due to disability, and compensation for non-economic damages such as disfigurement, loss of limb, or other catastrophic injuries. Some may claim compensation for PTSD related to the accident.

What Options Are Available to Me If My Damages Exceed the At-Fault Driver’s Auto Insurance?

If a car accident victim in Connecticut suffers serious injuries with damages that significantly exceed an at-fault driver’s minimum insurance coverage, there may be additional options to explore for compensation, including the following:

• The car accident victim may file a claim against their uninsured/underinsured motorist policy which is part of the required coverage for Connecticut drivers
• A lawsuit against the driver could result in a jury awarding the full damages to the injury victim but the additional compensation must come from the negligent driver
• The injury victim could file a lawsuit against a third party that contributed to the accident, such as a third driver, the manufacturer of a defective product like a malfunctioning airbag or seatbelt, or a negligent road maintenance agency if a pothole, obstructed sign, or construction debris contributed to the cause or seriousness of the accident
• A claim against an additional insurance policy such as collision insurance or an umbrella insurance policy
• A “bad-faith” lawsuit against an insurance company if they failed to adhere to the conditions of the policy or failed to settle a third-party claim

An insurance company may have to pay “losses in excess of policy limits” if a court decides the company acted in bad faith or was negligent.

How Can a Connecticut Car Accident Lawyer Help?

Accidents are frightening and painful. Unfortunately, the distress often continues following the accident when an injury victim with extensive damages takes on the accident claim process.

Call the New Haven personal injury lawyers at Weber & Rubano at (203) 888-8888 or contact us online for skilled guidance and legal representation so we can explore all of the options available to help you recover the maximum compensation.