Is my insurance company allowed to put a cap on my insurance settlement?

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Is my insurance company allowed to put a cap on my insurance settlement?

My insurance company says they can only
give me so much amount of money even
though I deserve more. People have told
me they cannot do this and that if I
got a lawyer I could fight for more
money. Which is true?

Asked on February 7, 2017 under Accident Law, Wisconsin

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

An insurer only has to pay up to the policy limit--they are not obligated to pay any more than the maximum amount in the policy for these circumstances. If you were injured by another, at-fault driver (you can only sue an at-fault driver) and the amount of your medical costs, property (e.g. car) damages, lost or reduced wages, "pain and suffering," etc. exceeds the insurance limit: you can sue that other driver (not the insurer) for the additional money, provided you did not sign anything (e.g. a settlement or release) in which you contactually gave up your right to sue or agreed to not sue.


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