A Claim Was Filed Against My Insurance Company For $15,000 Because A Person Got Hurt When I Hit His Car. My Automobile Insurance Policy Only Covers $10,000 For Bodily Injury To One Person. Can The Company Settle For More Than $10,000 And Make Me Pay The Difference?
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UPDATED: Jul 16, 2021
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The insurance company has a right to settle the claim without your approval. Often, they would rather get the case settled than face a lengthy dispute and possible court case. Generally, however, the limits on your policy would be the maximum amount they would offer to pay. In fact, those limits can be a powerful argument to the other side in favor of settling. If they are expecting you to pay something beyond the limits of your policy, you would certainly have a right to accept or reject the settlement.