What happens if you get sued for more than your policy limit?

What happens if you get sued for more than your policy limit?
Your insurance is likely going to hire an attorney if you are being sued for something related to your insurance like a dog bite or an automobile crash. The attorney will deal with most everything. However, you may get a letter from the insurance that there has been a court filing above what your liability coverage is in your policy.
While it is likely that the case will settle within the policy limits, but that is not a guaranteed outcome. When a lawsuit is filed that exceeds your policy limits, you do need to be informed. If the ultimate judgement is over the policy limits, you would then have personal liability.
There is a reason that many renter’s insurance policies are so cheap. They do not always have good coverage.
Make sure you double check your insurance coverage and make sure you have the correct limits. Also, consider umbrella coverage. It will be cheaper than you think it is.
Tags:
insurance, policy limit, car insurance, insurance claims limit, policy limit demand, insurance policy components, insurance policy limits, auto insurance, home insurance, illinois insurance policy limits, insurance limit, renters insurance, what is insurance policy, business insurance, policy, policy limit gap, how do insurance policy limits affect car accident cases, medical insurance, life insurance, term insurance, components of insurance policy, lawsuit, injury lawsuit, league city police lawsuit, personal injury lawsuit time limit, filing a lawsuit, personal injury lawsuit, lawsuits, insurance claims limit, lawsuits and the role of insurance, difference beteen an insurance claim and a lawsuit, million dollar lawsuit, difference between an insurance claim and a lawsuit, difference between an insurence claim and a lawsuit, 1 million dollar lawsuit, multi million dollar lawsuit, lawsuit timeline, retaliation lawsuit