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We have
a policy limit of $100,000. Does this mean that any medical bills,
damages, legal fees, etc. That exceed that limit are my responsibility?
First Your insurance
company is only obligated to pay up to the policy limits in settlement or
after a court judgment. However, if you actually go to trial and obtain a
jury verdict over the policy limit, the defendant will personally be on
the hook for the overage. Or, in rare circumstances, if your attorney
makes a "policy limit demand" and the insurance company rejects
the demand, then after judgment the insurance company could be on the hook
to pay all of the judgment, no matter what the amount.
BACK
TO INSURANCE LAW ->
Main Telephone
Number:
305.824.9800
Main Fax Number: 305.824.3868
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