Accidents Exceeding Policy Limits

After an accident in a fault-based insurance state like Missouri, injury victims expect the at-fault driver’s insurance policy to cover their damages, including property damage, medical expenses, lost wages, and compensation for pain and suffering. But what happens when the at-fault party has only the minimum required insurance coverage and an injury victim’s expenses exceed the limits of the at-fault party’s policy? Do injury victims have options to recover further compensation?

What Are the Minimum Auto Insurance Requirements in Missouri?

Missouri’s comparison negligence insurance laws require drivers to carry at least the minimum in liability insurance. The state’s minimum requirement includes the following coverage:

• $10,000 in property damage per accident
• $25,000 per person for bodily injury liability
• $50,000 per accident for bodily injury

Although these are the minimum policies required, and the state also requires the same coverage in uninsured motorist policies, it does not mandate that drivers carry underinsured motorist coverage. However, some drivers choose to add this optional additional protection. Underinsured motorist coverage provides additional compensation to car accident victims whose damages exceed the limits of the at-fault party’s insurance coverage.

What Are the Options for Car Accident Victims Who Don’t Have Underinsured Motorist Coverage?

Expenses can quickly escalate after a car accident, especially those resulting in multiple injury victims or serious and catastrophic injuries. Medical expenses, future medical costs related to the accident, lost income, and diminished future earning capacity due to disability, are common damages in serious car accidents. Additionally, non-economic damages like pain and suffering deserve compensation as well. In some cases, wrongful death compensation claims seek damages for surviving family members after a fatality.

When an accident victim’s expenses far exceed the policy limits of the at-fault party, other options could be available for compensation, including the following:

• Collision coverage: some drivers add optional additional coverage for collisions which could provide additional compensation
• A personal lawsuit against the at-fault driver if the driver has significant financial resources or assets. Our personal injury lawyer in St. Louis can assist with this avenue of recovery.
• Claims against other at-fault parties who may have contributed a percentage of fault, such as a negligent road-planning agency or road maintenance department, the manufacturer of a defective auto part, or a third-party driver who contributed to the accident
• Umbrella policies commonly cover high-net-worth individuals and are available to provide compensation if they cause personal injury to another
• A bad-faith insurance lawsuit may recover additional compensation if the at-fault party’s insurance company does not live up to the terms of its policy

Sadly, many seriously injured car accident victims or family members of those who suffer fatal injuries in a car accident accept fast, undervalued settlement offers without knowing that other options for recovering further compensation may be available to them. Accepting a settlement offer requires signing away the right to file a lawsuit.

How Can a Missouri Car Accident Attorney Help?

If you or a close family member suffered injuries or a fatality in a Missouri car accident, and your family’s damages exceed the limits of the at-fault driver’s insurance policy, reach out to the St. Louis car accident attorney from Miller & Hine for a free consultation so we can review all available options to secure the maximum in compensation available to you. Never accept a fast settlement offer from an insurer without consulting with an attorney.