Responsibility, Duty, Liability
- Your insurance company has a duty to treat you fairly, and to protect you from third-party claims, because you bought the liability insurance, whether on your home or on your automobile.
- The insurance company has to protect your interest when settling your claim
- The insurance company must negotiate the claim rather than just protecting the company’s own interest, or they can be liable to you for not protecting your interests.
If you bought a policy that says it is a 15/30 policy, and you injured someone and the damages exceed $15,000.00, the insurance company does not have to pay more than the $15,000.00 in coverage.
If the other party is willing to settle for the $15,000.00 and liability is reasonably clear, and the damages equal or exceed $15,000.00, the insurance company has to pay the $15,000.00.