For example, if someone is injured in a car accident and the at-fault driver has a policy limit of $50,000, then that is the most that the insurance company will pay out for the injured person's medical bills, lost wages, and other damages. Even if you have $100,000 in medical bills, the insurance company in this example is only obligated to pay up to $50,000.
It's important to note that if the injured person's damages exceed the policy limit, they may be able to pursue additional compensation from the at-fault party directly.
It's also important to understand that policy limits can vary depending on the type of insurance coverage and the specific terms of the policy. For instance, liability coverage for a business may have higher policy limits than and individual's personal auto insurance.
It's crucial to review your insurance policy carefully to understand your policy limits and ensure that you have adequate coverage in case of an accident or injury. Additionally, it's recommended to consult with a legal professional if you have questions about pursuing additional compensation beyond the policy limit.
Our attorneys are trained and have nearly two decades of combined experience in personal injury law in the state of Texas. If you've been injured in a car accident, call 844-227-9739 for a free, no-obligation consultation.
Jacob is a compassionate, no-nonsense personal injury attorney. Rest assured, he will fight for the best outcome possible for your injuries.
Dustin practices law for the individual because people need a strong voice in their corner.
Our firm provides its clients with knowledgeable, personalized representation in the following practice areas: Auto Accidents, Work Accidents, Dog Bites, Premises Liability (slip and fall cases), and more.
We know that money is a big deciding factor when choosing an attorney, which is why we don't take payments from our clients up-front. We only get paid when YOU get paid!
Insurance companies are not looking forward to helping you get better or paying for your damages. They will say and do anything to avoid paying you what you deserve! Hiring an attorney is a great motivator and puts the insurance companies on notice. We're on YOUR side!