I didnt know that it matters how much insurance the person at fault had. Did you ?

Question

The person at fault hit 4 parked cars an my car is damaged bad. I have a 2001 Grand am annd the other person had an 2005 camry with full caverage but only $5000 worth of coverage for damages. Now Im stuck in a hole with no car. I only have liability with limited tort. I know now is if I get cheap insurance I will make sure I have full tort.

I figuered that if a insured person hit your vehicle then you should be fine when it comes to your damages.

I guess I learned something.

Answer 1

Yep - there are variable limits available for the different kinds of coverage and pretty often, the minimums set forth by a state or other area aren't much or even close to enough, especially in serious accidents.

Answer 2

Each state sets minimum limits of liability coverage that you are required by law to have.  This covers the other person's vehicle(s) if you are at-fault in the incident. Unfortunately, these limits are usually set way too low.  Is $5,000 the miminum required in your state?  You can find out by calling an insurance agent.  If this person is underinsured, you can contact the police.  If not, the only recourse you have at that point is the sue him/her in small claims court, but that's usually very time consuming and most often, you never see the money if you do win.  

I'm so sorry.  Good luck!

Answer 3

you would have to look into this more, but i am pretty sure you have the right to take the person to court to get the rest of the money that you are out

Answer 4

I never knew that, I just got fully comp,I hope that covers things, { no accidents as yet }

Answer 5

You can't control what the other person has.  What you need is adequate uninsured/underinsured motorist coverage to protect you when struck by such a driver.

Answer 6

Yes.  Which means, you need to look at YOUR limits.  How much property damage coverage does YOUR policy have?  

YOU are underinsured!  YOU didn't buy enough coverage!  You bought just what you needed to hang the plate!  It's not the TORT coverage that's killing you - it's the not having COLLISION coverage.  If you had collision (the most expensive thing), your insurance company would pay you!

You can't blame the other guy - he did exactly what YOU did.

Answer 7

I agree with the above statements and I also learned from experience that cost me money.  I have found that agents do a poor job in making sure the customer understands exactly what the coverage and thus the risks really are.  This is especially true in our mobile society as every state has different rules and limits that shape how policies are written.concerning coverage.  

In the 70's I moved to Massachusetts, a no fault state, and got coverage.  A few months later my car was hit in a parking lot and  had several hundred dollars damage.  I had collision but was told I didn't have extra territorial coverage (coverage on private property).  When I asked the agent why not his reply was you didn't ask for it.  It only added about $10/yr.  It was something unique to Mass and no fault and I had just move from Louisiana, how did I know?   Now I ask what coverage a prudent person should have and don't change companies very often.