If you’ve been hurt on someone else’s property, your injuries should be covered by their homeowner’s insurance. However, many people are shocked to discover that the insurance may not pay out the full amount of the settlement. When you’re counting on that money to pay your mounting medical bills and make ends meet while retaining some quality of life, this can be a shock you don’t need.
Understanding the potential for limited payment can offset such an unpleasant surprise and help you to take the necessary next steps. Learn the limits of homeowner’s insurance and injuries, what to do to get your full claim paid, and how a Greensboro injury attorney can be of help.
Homeowner’s Insurance and Settlement Limits
When you get a settlement for your premises liability-related accident, technically the settlement goes against the homeowner. However, the payment often comes out of their insurance policy. This can present a problem as they will only be insured up to a certain amount. If, for example, the settlement is worth $300,000, but the homeowner’s policy only covers up to $200,000, you may not see that final $100,000—not right away, in any case.
Technically the homeowner is still on the hook for that extra hundred grand, but if they don’t have it to pay, collecting can be a problem.
In some cases, a homeowner’s insurance policy might have what is called an “umbrella” coverage provision. This kind of coverage kicks in to handle any damages suffered above normal policy limits. If an umbrella provision exists, it may cover some or all of the remaining damages. This is a best-case scenario, but one that is more common than you might think.
It may be possible, in some cases, to work out payment arrangements for the remaining amount, but you’ll need the best in advice and help to do this. It could also take a long time for the other party to finish paying off the damages in small amounts that they can afford.
When the Insurance Company Tries to Avoid Paying
In an unfortunate number of cases, insurance companies will go to great lengths to reduce the total amount of the settlement or even to avoid paying altogether. Their tactics can range from arguing that your injury is not as serious as you claim, to accusing you of being at fault, or even of not being hurt at all.
Hiring a Greensboro Injury Attorney
If you’re hurt on someone else’s property in North Carolina, you should always seek help from an experienced Greensboro injury attorney. An attorney like those at Mike Lewis can not only stand up to bullying insurance companies but can work with the other side to arrange a fair payment plan if need be.
Over our decades of service, we’ve won over $10 million in verdicts and settlements for our clients, and we are here to help you as well. There’s no fee unless we win your case. Just fill out our case evaluation form or give us a call today to find out how we can help.