Insurance Agents: Car Accident Question?

In November 2006 a lady was making a left hand turn in front of me. I bumped her bumper with little force. Neither vehicle had any marks as a result. I received a letter from my insurance company yesterday that she is suing my insurance company for an undisclosed amount of money due to aggravated injury that she is claiming occured as a result of the bump. She walked out of the vehicle and appeared to be absolutely fine. My insurance for bodily injury is very low and she is suing for much more than I have coverage for. Is it possible that I could lose my assets as a result of this "bump"? Our house is in my wife's name. Is it possible that they could take our house? Our savings account is in my wife's name. Is it possible that they could take that because we're married?
Additional Details
I can call the authorities to report the accident after 2 years? I called my insurance company immediatedly following the incident. They've been haggling with her ever since. They immediately paid for a new bumper for her (even though it was not damaged outwardly) in order to be sure that there was no internal damage.

sydkan

She can ask for a million dollars but that doesn't mean she's going to get it. An insurance company has to in good faith attempt to settle the claim within limits. The reason for the lawsuit is probably the statute is getting ready to run out and the only way to hold on to the monies that she MIGHT collect. Let your insurance company handle it for now. they will keep you aprised. they will also let you know if they think this will not be settled within your limits.

They may run an asset check and being that everything is in your wife's name you may be okay. community property usually only applies to assets you obtain while you were married. at least this is true in my state.

Talk to your claims adjuster. They will give you more information than anyone here could.

Michael S

She might 'be trying it on'. How long did she wait before seeing a Doctor and his opinion are relative. At this stage, I would report the 'accident' to local police and make a report. (All injury collisions are reportable). Once police take an interest, she will probably forget making a claim! Don't worry about savings etc. Just cover yourself by telling your insurers and police.

Kizzy

Am I missing something here?

1. She made a left turn in FRONT of you and she's suing your carrier?
2. Most states have a 2 year statute for bodily injury claims, is she represented by an attorney? If no, then her statute ran out in Nov. 2008
3. Making a police report if fine, if just to try to scare her off otherwise, for what?

If you were actually at fault for this incident...Sorry, I have to reprimand you just a bit. This is the exact reason why you carry insurance. To report claims, even though minor can avoid such headaches. If you had reported it, an inspection of your vehicle would have taken place. As for your home, your legally married & therefore it may be considered community property along with the savings account.

Your insurance carrier should be ordering medical records and trying to deter any payment if the accident was as minor as you say. There is no chance of a bad faith claim on a third party, so they should be taking care of business.

Good luck to you!!

Scott H

It depends if you live in a community property state. In a community property state, there are no "his assets" or "her assets", they are all your assets jointly.

farmergirl100904

Yep. That is the risk you take when you maintain low Bodily Injury limits. Your insurance company could pay up to your coverage limits (IF the lady shows sufficient proof of injury). But then the lady could sue you personally for the balance. Whatever you and your wife own could be in danger.

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