What Happens When a Car Accident Claim Exceeds Insurance Limits?

By Harold Dwin on August 24, 2023 | In Auto Accidents

What Happens When a Car Accident Claim Exceeds Insurance Limits in Maryland?

Insurance can help make you whole again following an accident by covering the cost of your reasonable medical expenses and car repairs. However, what happens when your financial losses are greater than the other driver’s car insurance limits? Do you have to pay out of pocket? Is there another way to recover the money you deserve?

At Cohen & Dwin, P.A., our Maryland car accident lawyers want to help you understand your options for pursuing the compensation you need if your losses outpace the other driver’s insurance policy limits.

Insurance Coverage Limits in Maryland

All Maryland drivers must carry car insurance. Mandatory minimum liability insurance coverage must include the following:

  • $30,000 for bodily injury
  • $60,000 for two or more people
  • $15,000 for property damage

What Happens When the At-Fault Driver Has Too Little Coverage?

Unfortunately, minimum coverage limits don’t always cover devastating physical injuries and large-scale property damage caused by a significant accident. What happens when the at-fault driver doesn’t have enough coverage to compensate you for all your financial losses? Are you on the hook for the remaining losses due to the accident?

Depending on your situation, you may have a few options for seeking the compensation you deserve for a Maryland car accident. In addition to basic liability coverage, Maryland requires minimum uninsured/underinsured motorist (UM/UIM) coverage. If an at-fault driver lacks insurance coverage to compensate you for your financial losses, you could turn to your auto policy’s UM/UIM policy coverage for help. UM/UIM coverage bridges the gap between the at-fault driver’s coverage and the remaining total of your losses up to your policy limits.

How Our Attorneys Help Injured People with UM/UIM Claims

Often people ask why they need an attorney if they file an insurance claim. It is vital to contact an experienced Maryland car accident attorney for help when filing an uninsured motorist claim in Maryland.

You may believe your insurance company is on your side and wants to cover all your losses when the at-fault driver’s coverage cannot. However, that is typically not the case. Insurance companies are for-profit entities that want to keep payouts low and profit margins high. That may mean using tactics designed to get you to settle for less than what your UM/UIM claim is worth.

Often, injured individuals do not understand their rights and struggle to overcome the aggressive strategies many insurance companies use. Our attorneys can help you with your UM/UIM claim by collecting the vital evidence needed to strengthen your claim and document all of your losses. We can then negotiate for you from a position of strength for the maximum money you deserve.

Contact the Maryland Car Accident Attorneys at Cohen & Dwin, P.A.

Maryland UM/UIM claims can quickly become complicated. When an at-fault driver does not have the coverage to compensate you for your injuries, you need the help only a skilled UM/UIM car accident attorney can provide.

Are you concerned that your losses exceed the at-fault driver’s insurance limits in a car accident claim? Contact Cohen & Dwin, P.A., today for a free case review.

Attorney Harold Dwin

Attorney Harold P. Dwin, co-founder of Baltimore premier law firm Cohen & Dwin, P.A., is proud to be able to help clients in need by simplifying complex legal matters and solving legal problems that cause immeasurable stress.