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What is the extent of my liability for an auto accident when limits are exhausted?

Accident occurred in Kentucky. Liability limits are 100/300 and claims may exceed limits. Except for personal residence and vehicle I have no other assets.

Asked By: Cane Phan - 3/5/2007
Best Answer - Chosen by Asker
If you get a judgement against you the plaintiff can attach your wages. If the residence is in your name only and not fully encumbered by a mortgage they can attach that with a lein. If you own the residence outright they can attach a lein and force a sale of the property to recover towards the judgement. They cannot... More
Answered By: Sane - 3/5/2007
Additional Answers (5)
Don't worry about it. If you have no assets, then you are good to go... More
Answered By: Rica 82 - 3/5/2007
 
I think you are still liable for the damages. Check with a lawyer, and if you can't afford one try legal aid. If you're in Louisville, try the heavy hitter lawyer. I think he's an ambulance chaser but I guess he does all right.
Answered By: fordman - 3/5/2007
 
If the claim awarded exceeds the limits, you're more than likely accountable. Bankruptcy may be your only avenue.
Answered By: mantle two - 3/5/2007
 
Subrogation can be per sued if the opposing party has not been satisfied. They can sue you for any assets you have an attorney can better assist you in this area.
Answered By: vincent t - 3/5/2007
 
If damages exceed $100k per person or $300k per accident, you are still liable. Once the insurance company has paid out their max they are no longer obligated to defend you so you will need to get a lawyer and you will be responsible for damages over the insurance limit. If you dont have any assets, they cant really... More
Answered By: fdibella1125 - 3/5/2007
 
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