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What happens if you owe over 10000 dollars to an insurance company due to a judgment?
Wiki User
∙ 10y ago
It's the same as any other unpaid debt.
The company may sue you in court which could result in liens or attachments to your property or your wages.
They may turn it over to a collection agency for further collections activity.
Of course it will almost definitely go on your credit report as a bad unpaid debt.
Wiki User
∙ 10y ago
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What happens if an accident is your fault and you have have insurance?
When this happens, your Insurance company pays for damages. If the accident is your fault, your insurance rates can go up.
What happens with the insurance if you get in a wreck and its your fault?
We typically contact our insurance company and report the accident and the circumstances. That way the insurance company can pay the bills for you.Answerthe insurance company raises your rates and pay a deductable
What happens when your car insurance is cancelled by the insurance company?
What happens is that you get a new insurance policy, possibly with another insurer. Any unearned premium will be returned to you by your insurer.
If a car on finance is stolen and insurance pays out but then the car is recoverd what happens to the car?
It belongs to the insurance company
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Don't expect insurance to cover you if something does go wrong on the trampoline...
What happens in MI when a person doesn't have insurance?
Keep the person there and call the police or the insurance company so they can walk you through it.
What happens when a judgment exceedes the amount that the insurance covers?
This is not good, for you! It means that the Insurance co. has met their obligation and if there is an amount still owed, you're stuck with it! You may be sued by the adverse party and they may obtain a Judgment against you. However, in some cases, the Judge may order the Insurance co. to pay the Judgment and they will come after you for the full recovery, minus the amount stated in your policy! Good luck!
Can the court alter the terms of an insurance policy through awarding claims excluded in the policy?
The court can make any judgment they wish in regards to a claim regardless to what is covered by the insurance companies policy. What happens is the individual policy holder is now on the hook for the damages that the insurance company is not going to cover. The terms of the policy would be inforce unless a court of authority finds the insurance company was negligent in it's exclusion of specific terms in the policy. So basicly the insured person who was covered by the policy is out of pocket the amount of the awarded claim regardles of the insurance company covering that exclusion or not.
What happens if you are named a benificiary in an insurance policy but the will says different?
The will has no relationship to the insurance policy. The Policy is a contract between the insurance company and the insured and does not become a part of the estate.
Can a company deny you for a prescribed drug?
Yes, an insurance company can legally deny covering prescription medication if they find that it isn't unnecessary. Sometimes this happens when the insurance company feels like the diagnoses is wrong, or the medicine is inappropriate.
What happens not your fault someone hits your car but does not phone their insurance company?
You can always file a claim on their policy. If they do not cooperate with their insurance company, the company has to give them the state required days to respond before they make a ruling on fault.
Can a driver with an out of states license be on your auto insurance?
If the person has just moved into the state, the insurance company will allow you to add them to your policy. Most companies will allow them 30-60 days to get an instate license. If they don't obtain an instate license within this period, they will probably non-renew your entire policy and all vehicles. Be truthful with your insurance agent and company and they can work with you. If this person actually lives in another state, they need to get their own insurance where they live. It is not worth risking your insurance record and your life to help someone cheat the insurance company out of a few dollars. Say you add your brother to your policy in Virginia, but he actually lives in New York. It might seem good for a little while until he has a wreck and hurts someone in another car with the accident being his fault. Your insurance company company will deny the coverage for material misrepresentation. Guess what happens when your brother gets sued and you will be sued as well. Your insurance company is out of it. You will have to pay an attorney, losses, interest, etc. just to save a few dollars.
