What Does it Mean to Make a Policy Limit Demand After a Truck Accident?
Hurt in a commercial truck accident in Florida? You have the right to seek full and fair financial compensation for your damages. If it was a serious crash, you may even be in a position to make a policy limit demand. At Pike & Lustig, LLP, we handle serious crashes. Here, our West Palm Beach semi-truck accident lawyer provides a guide to policy limit demands in Florida.
Know Your Terms: What is a Policy Limit Demand?
A policy limit demand is a formal request made by an injured party (or their attorney) to recover the full amount of insurance coverage available under a truck driver’s or trucking company’s liability policy. In Florida, this demand is typically made when the value of the victim’s damages clearly exceeds the insurance policy limits. For example, if the trucking company carries $1 million in liability coverage, which is common, and the victim’s medical bills, lost wages, and pain and suffering exceed that amount, a policy limit demand may be appropriate.
What Happens if an Insurer Rejects a Policy Limit Demand?
Policy limit demands can serve as powerful tools in Florida truck accident litigation. When properly drafted and supported by clear evidence, these demands signal to the insurance carrier that the injured victim is serious. That failure to settle could open the insurer up to a bad faith claim. Florida law holds insurance companies accountable for acting in good faith when handling serious injury or wrongful death claims.
If an insurer rejects a policy limit demand after a truck accident, it could face serious consequences, especially if the victim’s damages are clearly worth more than the policy limits. In Florida, insurance companies have a legal duty to act in good faith when handling claims. If they reject a fair and well-supported demand without a valid reason, they may be held responsible for the full amount of a future judgment. To be clear, that is true even if the amount exceeds the policy limits
The Bottom Line: If you were seriously hurt in a semi-truck accident in Florida, you have the right to seek compensation for the full value of your damages. A truck company’s liability insurer can be held accountable. If your damages exceed the value of the policy limit, your lawyer can make a full policy limit demand. If the insurer delays or denies the claim, it could potentially be liable for the full amount of your damages (even beyond the policy limit) under Florida’s bad faith laws.
Get a Free Case Review With a Top West Palm Beach Truck Accident Lawyer Today
At Pike & Lustig, LLP, our West Palm Beach semi-truck accident attorney has the expertise that you can trust when it matters the most. If you or your loved one was hurt in a serious crash, we are here to help. Contact us today for a free, no obligation initial consultation. With an office in West Palm Beach, we handle semi-truck accident cases throughout Southeast Florida.
