Legal Question in Credit and Debt Law in Florida
medical expenses beyond my insurance coverage
My 18 yr old son was at fault in a car accident invoving 2 cars. 2 people from each car have placed claims with my insurance company claiming back injuries...my insurance carrier sent me a letter stating settlements and medical expenses could exceed my policy coverage. If this does occur and i have no cash to pay them...can they levy my personal property such as vehicles etc that are paid for? I understand my home is exempt but are any other personal property items exempt or is there a dollar value of property exempt from levy. how will the accident victims get the remaining settlement from me if it goes beyond my policy coverage?
1 Answer from Attorneys
Re: medical expenses beyond my insurance coverage
Your personal assets are exposed if they obtain a court judgment against you in excess of your liability insurance policy limits. Certain assets are exempt.
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