Question: I was involved in a car accident a year and a half ago. I rear-ended a man who afterwards had rear-ended someone else. The passenger in the car had previous leg and neck surgery. The original car rear ended left the scene. I have witnesses. The passenger is suing me for $450,000 after he turned down the offer from my insurance for $100,000 (my maximum). What happens if I lose in court?
Answer: You potentially could be found liable for a verdict in excess of your policy limit. If you are truly without any assets, perhaps an affidavit from you to the effect that you do not have any assets or resources would be helpful in encouraging the plaintiff to accept a tender of your policy limit in full satisfaction of your liability. You may want to discuss this possibility with your insurance company to see if that might help the situation. If you are sued after they reject a tender of your policy limits, I suggest that you retain your own personal counsel to help defend the action. Regardless, an experienced attorney in your area can confidently guide you with ideas on how to properly proceed. Contact one as soon as you can for the best odds in ruling in your favor.