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(314) 500-HURTA policy limit is the maximum amount of money an insurance company is required to pay out in compensation in a personal injury case. Insurance companies are contractually and legally obligated to pay for the damages their policyholders are liable for — up to a point. Once your economic damages and non-economic damages exceed the policyholder’s policy limits, the insurance company does not have to pay you any more.
The policy limits under the plan you are making a claim against depend on where you were injured and the nature of your accident. If you were injured in a car accident, the other driver is likely to have a $25,000 limit per person injured and a $50,000 limit per accident, the minimum requirements under both Illinois and Missouri law.
In a truck accident, medical malpractice or product liability claim, the liable party is likely to be covered by hundreds of thousands, if not millions, of dollars.
In any case, whether or not your damages will be covered under an insurance plan depends on the severity of your injuries and that plan’s policy limits.
If your damages exceed the policy limits, there are some avenues through which you can seek more money in order to be fully compensated:
If your damages exceed an insurance plan’s policy limits, or you are having other problems collecting compensation for your injuries, it is best to consult with a personal injury attorney to discover how to best proceed.
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This page has been written, edited, and reviewed by a team of legal writers following our comprehensive editorial guidelines. This page was approved by Founding Partner, Gary Burger who has more than 30 years of legal experience as a practicing personal injury trial attorney. Gary’s robust legal knowledge is recognized by his peers as demonstrated by his industry awards and frequent Continuing Legal Education (CLE) lectures.
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