A Florida car accident can result in serious injuries and significant financial losses. Dealing with the aftermath of a car accident can be overwhelming. However, the situation can become even more complicated when the value of a car accident claim exceeds the at-fault party’s insurance coverage. So, what happens when the damages from a Florida car accident exceed the at-fault party’s insurance limits? Fortunately, if your car accident claim exceeds the negligent party’s insurance limits, all hope may not be lost. Read on to understand your options and legal rights.
Florida’s Minimum Insurance Requirements
Florida is among the states that operate under the no-fault auto insurance system. Under this system, all drivers must carry at least $10,000 in Personal Injury Protection (PIP) coverage. Florida drivers must also have a minimum of $10,000 in Property Damage Liability (PDL). Florida generally does not mandate that drivers carry Bodily Injury Liability (BIL) insurance, which covers medical expenses, lost wages, and other damages if a driver causes a collision that injures or kills others. Therefore, it is not uncommon for drivers to be on the road with no insurance to cover the injuries they cause. And even when a driver purchases BIL insurance, their policy may be insufficient to cover all damages.
When a Claim Exceeds Policy Limits
If you suffer severe injuries in a car accident because of the negligence of another driver, and their insurance coverage is not enough to cover all your damages, recovering compensation becomes complex, but not impossible. In such a case, there are options for seeking additional compensation. Here are some ways you may be able to pursue additional compensation in Florida;
- Uninsured/Underinsured Motorist Coverage(UM/UIM)
Uninsured/Underinsured motorist coverage is not mandatory in Florida. However, it is highly advisable to include this coverage in your policy. If you have this coverage and the value of your claim exceeds the at-fault driver’s insurance limits, you can pursue the remaining damages from your insurer.
- Filing a Personal Injury Lawsuit
You can file a lawsuit against the at-fault driver. A court judgment is not limited by the negligent motorist’s policy limits. With a court judgment, the at-fault driver will be personally responsible for the excess amount not covered by their insurance policy. However, collecting the full amount may be difficult if the at-fault driver lacks sufficient assets or income.
- Pursue Other Defendants
Liability for a Florida car accident may rest on other parties, such as the vehicle manufacturer in case of a defective part, a local municipality responsible for a road hazard, or an establishment that overserved alcohol to an impaired driver before the accident (dram shop law). Consider all potential defendants.
- Negotiate a Payment Plan
Finally, negotiating a structured payment plan with the negligent driver can allow you to recover compensation without lengthy litigation delays.
Contact Us for Legal Help
Our Fort Myers car accident attorneys at The Pendas Law Firm can help you secure maximum compensation. Contact us today to schedule a consultation.
The Pendas Law Firm also represents clients in the Ocala, Orlando, Fort Lauderdale, Tampa, Jacksonville, Miami, Bradenton, Daytona Beach, West Palm Beach, Naples, and Melbourne areas.