When you’ve been injured in an accident, the financial strain can quickly exceed the at-fault party’s insurance policy limits. With medical bills, lost wages, and other damages piling up, it’s essential to understand your options for recovering compensation beyond those limits. At Paulozzi LPA, we specialize in navigating complex cases to ensure our clients receive the compensation they deserve. Here we’ll explore strategies for pursuing compensation and how our dedicated team works to achieve the best possible outcomes.
Insurance policy limits are the maximum amounts an insurer agrees to pay for a claim. In Ohio, the minimum liability coverage is $25,000 per person and $50,000 per accident, but severe injuries often result in much higher costs. When damages exceed these limits, it’s essential to explore additional sources of compensation, such as umbrella policies, bad faith claims, or other liable parties. Ohio law does not bind you to the negligent party’s policy limits, meaning you have several avenues to pursue further compensation.
Some accidents involve more than one responsible party. Pursuing compensation from all liable parties can help you recover damages that exceed an individual’s insurance policy.
Many businesses and high-net-worth individuals carry umbrella insurance policies, which provide additional coverage beyond their standard liability limits.
Example: A driver may have a $25,000 auto liability policy and a $100,000 umbrella policy, giving you access to $125,000 in total coverage.
Insurance companies have a legal obligation to act in good faith when handling claims. When an insurer refuses to settle a legitimate claim within policy limits, they may be acting in bad faith.
Result: If bad faith is proven, the insurer can be held responsible for the full extent of damages, even beyond policy limits.
When a potential judgment exceeds the at-fault party’s policy limits, a conflict of interest may arise between the insurer and the insured. Ohio law allows the insured to demand personal counsel, which the insurer must pay for.
Benefits: Personal counsel increases pressure on the insurer to settle within policy limits, reducing the risk of personal liability for their client.
If the at-fault party has substantial assets, you may file a lawsuit to recover damages beyond their insurance coverage.
Considerations: This approach works best if the defendant has significant financial resources or assets. Our attorneys evaluate the defendant’s financial standing to help you decide if this option is viable.
If you carry underinsured motorist (UIM) coverage, you can file a claim with your own insurance provider to cover damages exceeding the at-fault driver’s policy limits.
When pursuing compensation after an accident, it’s essential to account not only for your current damages but also for future costs that may arise. Injuries often have long-term implications, and failing to include anticipated expenses in your settlement can lead to significant financial strain down the line.
Future expenses can include medical care, rehabilitation, and other ongoing needs that arise due to your injury. These may include:
Our goal is to ensure your settlement provides lasting financial protection, so you can focus on recovery without worrying about ongoing costs.
A strong legal case is essential to recovering compensation beyond policy limits. At Paulozzi LPA, we gather detailed evidence to strengthen your claim, including:
Every case is unique, and a detailed evaluation is necessary to uncover all potential avenues for compensation. Our attorneys collaborate with expert witnesses in various fields to project the long-term impact of your injuries and build a compelling case with proven strategies to secure the best outcome.
If your damages exceed the at-fault party’s insurance policy limits, don’t settle for less. At Paulozzi LPA, we specialize in recovering compensation beyond policy limits, leveraging our deep understanding of Ohio’s personal injury laws to negotiate, litigate, and maximize your recovery. Contact us today for a free consultation—our experienced attorneys will evaluate your case, outline your options, and fight to secure the compensation you deserve.
