If I caused an accident last year but there was not enough in my collision to cover all costs, do I personally owe the balance?

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If I caused an accident last year but there was not enough in my collision to cover all costs, do I personally owe the balance?

If I can’t afford to cover this wouldnt their underinsured kick in the cover the balance?

Asked on July 11, 2014 under Accident Law, Pennsylvania

Answers:

Gregory Abbott / Consumer Law Northwest

Answered 7 years ago | Contributor

Yes, you will (do) personally owe the balance, the only question is to who. If the other driver carries under-insured coverage, his insurer may pay the balance of the damages to that driver - and turn around and sue you for that amount.  Or, if they do not recover from their own insurer, then the other driver may sue you directly.  Either way, you are likely to be on the hook, the only question is who takes the risk that they can't recover everything owed from you - the other driver or his insurance company. If you caused the damage, you owe one of the two, period. If you did not carry enough insurance to cover all the damages, your personal assets are at risk for the balance. That is, after all, the whole concept of insurance.


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