What to do if I was in a car accident almost 2 years ago and am now being asked for a $300,000 settlement?

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What to do if I was in a car accident almost 2 years ago and am now being asked for a $300,000 settlement?

My insurance company is handling it. At the time of the accident I received no details on the other driver’s medical records/bills. I assumed the insurance company handled it. I’m covered for up to $500,000 with my insurance. Can the other party go over that?

Asked on February 22, 2014 under Personal Injury, Oregon

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

Yes, the other party can seek more than $500,000, assuming their damages (e.g. medical costs, to date and projected future; lost wages and earning potential; pain and suffering; etc.) exceed that amount. The limits of your coverage limit how much protection you have, not how much the other party can seek. They can seek an amount commensurate with their injuries and loses; if that exceeds you insurance coverage, you will pay any extra out of pocket.


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