The value of your California personal injury case depends on so many things, including: nature and extent of injuries, missed work and other accident-related financial losses, pain and suffering and more. But one of the most important things that determines how much you will get paid for your accident (different than how much you should get paid) is the insurance policy limits involved in the California personal injury case.

Insurance Policy Limits and Your Personal Injury Payout

Insurance policy limits is the maximum amount of money available on a given insurance policy for injuries. For instance, if a policy has a $50,000 limit for bodily injuries and you were in a car accident with that driver, then $50,000 is the most you will get from that other side (but note, it is not the most possible, just from that specific insurance source). The vast majority of personal injury cases are lawsuits dealing with insurance companies rather than the individual assets of the responsible party. Insurance policies come into play in personal injury cases such as:

• Car accidents
• Truck accidents
• Pedestrian accidents
• Bicycle accidents
• Motorcycle accidents
• Dog Bites (Homeowners’ insurance)
• Wrongful death cases

What Happens When The Insurance Policy Is Lower Than Case Value?

Insufficient insurance policy coverage is something we deal with all the time. For instance, if your injuries and other accident-related damages are around $100,000 but the other side’s insurance policy is capped at $50,000, you still have options you are entitled to make up the difference. You can of course try to hold the other party individually responsible for the difference but a lot of times that becomes money that is very hard to actually collect. Rather, we file a claim against your own insurance company under your underinsured motorist policy (aka UIM or UM).

The very purpose of this type of coverage if to help you out in this very common scenario. Here’s how it works- once we have exhausted the policy limits of the other party (in the example above, $50,000) and make a very compelling showing to your insurance company that your value and needs exceed that of the other limit, we are able to try to collect on this policy as well and hopefully get you the true value of your case. But even though it is your own insurance company, they will fight against giving you this money which is why you want to make sure that you are working with an experienced and successful California personal injury lawyer.

California Personal Injury Lawyer

At Walch Law, we are the California personal injury law firm you want fighting to get you the most money possible– and we have successfully been doing so for our many happy clients for over 40 years. If you have been injured in a personal injury accident and want to get the most money possible, then you want to hire Robert and Gary Walch. We take all our cases on a contingency fee basis and are ready to get started TODAY- call us now to set up your initial free consultation. Based on Calabasas but serving clients all over California.