Are Insurance Companies Required To Disclose Policy Limits?
An important and often misunderstood question is how much insurance coverage is actually available. Insurance policy limits refer to the maximum amount an insurer will pay for a claim. In a typical auto policy, this may include bodily injury liability limits (per person and per accident) as well as property damage coverage. Connecting with an Orlando personal injury attorney and knowing these limits helps in guiding your recovery strategy. Always speak to an experienced accident attorney before speaking to any insurance company.
Why Policy Limits Matter
In any personal injury claim, the available insurance coverage often defines the practical ceiling for recovery. Even if your damages exceed that amount, an insurance company generally won’t pay more than the policy allows unless there are additional sources of compensation.
For example, if a driver carries $25,000 in bodily injury coverage and your medical bills alone exceed that amount, you may need to explore other options. This could involve uninsured/underinsured motorist coverage or pursuing the at-fault party personally.
In Florida, insurance disclosure laws are more favorable to accident victims than in many other states. Under Florida law, insurers are typically required to provide certain policy information upon request. This includes:Insurance company name
- The name of each insured
- The limits of liability coverage
- A statement of any known coverage defenses
But this information is not always handed over automatically. The most effective way to obtain policy limits is through a written request. This is often handled by an attorney, who will send a formal request to the insurance company representing the at-fault driver. Without this step, you may be negotiating blindly, without knowing how much coverage is actually available.
Steps to Take If There Are Multiple Policies
In some cases, more than one policy may apply. For instance, a driver may have a personal auto policy, an umbrella policy, or coverage through an employer if the accident occurred during work-related activities.
Additionally, your own insurance policy may provide supplemental coverage. Uninsured/underinsured motorist (UM/UIM) coverage can be especially important if the at-fault driver carries minimal insurance. Identifying all available sources of recovery requires a thorough investigation, which is another reason legal guidance can be critical.
If an insurer fails to comply with disclosure requirements or acts in bad faith, there may be legal remedies available. Florida law allows injured parties to pursue claims against insurers that do not handle claims properly or fail to act in good faith when resolving them. This can potentially open the door to recovering more than the original policy limits in certain circumstances, though these cases are complex and require careful handling.
Understanding insurance policy limits is a key step in any Florida car accident claim. Without that information, it’s difficult to evaluate settlement offers or determine the best path forward. By working with a knowledgeable Orlando personal injury attorney, you can ensure that all available coverage is identified and that you’re not leaving compensation on the table.
Is there a policy limit involved in your recovery? Have a conversation with the attorneys at Israoui Law. Call 407-381-4529 for the personal attention you deserve.
