Hit By Dui Driver Doing Whippets In Va. At-fault Driver Has $50k Limits, Insurer Wants To Settle Immediately. Should I Pursue More?
Location: Virginia
I was hit by a driver who was charged with reckless driving and later DUI, and then got arrested for the exact same thing a month later. I have ongoing physical injuries and mental anguish. The driver's insurer called today, admitted their policy isn't enough, and offered to instantly tender his $50,000 policy limit to settle out of court. My own underinsured motorist policy is also capped at $50,000, so my state's credit laws mean there is zero extra insurance money available.
A local personal injury law firm wants to sign me under a standard 33.3% retainer. Since the insurance company is already offering the maximum $50k cap on a silver platter without a fight, is it a mistake to hand a lawyer a $16,666 cut? If I reject the settlement to sue the driver personally for punitive damages, am I just running into a "blood from a stone" scenario against a standard corporate employee who can wipe out a jury verdict through bankruptcy? I want him held fully accountable, but I need to know the financial reality of trying to get more than the policy cap.
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