I was hit by a drunk drive. He doesn’t have enough insurance. I want to go after him personally, but I have underinsured motorist coverage. HELP!
Okay, this is a two parter!
1. Is it typical that the drunk drivers insurance company will pay me above the policy limits to ‘protect’ their insured for additional claims?
No. They will do this if they had a chance to resolve the case and failed to do so and then you get a judgment for more than the limits. But, this is rare.
2. Will I have to file against my own under insured motorist portion of my insurance policy (limits 100K/300K)?
Before you settle with the other party, get a copy of his declarations page and an asset declaration from him. (His insurance will provide both of these.) You will then want to settle, if he has no assets. Then, keep a copy of the checks, and file an uninsured motorist claim with your own insurance company. Remember, your rates cannot be raised for filing an uninsured motorist claim with your own insurance.
Hope this helps!