O.K. Let's Talk ' INSURANCE RATES '
08-08-2002, 04:11 AM
#41
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Originally posted by jims2321
HZ,
Unfortunately in my younger days, I was the recipient of such lawsuit, and I can tell you from experience, the lawyers here in FL, know exactly what 'no fault' means. Yes, it does limit the insurance companies liability, but not the individual's. If I had gone to trial and lost, I would have been out at least 6 figures, as it was, it cost me my business, and my first home. So while the laws look pretty in writing, they don't mean squat in real life. Bottom line, is there is no 'limit' to individual exposure for lawsuits in Florida, and probably most other states.
Jim
HZ,
Unfortunately in my younger days, I was the recipient of such lawsuit, and I can tell you from experience, the lawyers here in FL, know exactly what 'no fault' means. Yes, it does limit the insurance companies liability, but not the individual's. If I had gone to trial and lost, I would have been out at least 6 figures, as it was, it cost me my business, and my first home. So while the laws look pretty in writing, they don't mean squat in real life. Bottom line, is there is no 'limit' to individual exposure for lawsuits in Florida, and probably most other states.
Jim
08-08-2002, 06:02 AM
#42
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jims
Without knowing the facts, I could not speak to your specific case. Perhaps your accident occurred before the Florida No-Fault Statute went into effect. Or perhaps one of the verbal thresholds was met (permanent injury or significant scarring, etc.) In those instances, all bets are off.
None-the-less, the law limits the individual's liability, not the insurance company's. The insurance company's liability is limited by the policy limits.
Sorry to hear about your run-in with our legal system in your youth. Hopefully, none of us Z drivers will encounter a similar experience.
BTW, what color and trim level is your Z?
Without knowing the facts, I could not speak to your specific case. Perhaps your accident occurred before the Florida No-Fault Statute went into effect. Or perhaps one of the verbal thresholds was met (permanent injury or significant scarring, etc.) In those instances, all bets are off.
None-the-less, the law limits the individual's liability, not the insurance company's. The insurance company's liability is limited by the policy limits.
Sorry to hear about your run-in with our legal system in your youth. Hopefully, none of us Z drivers will encounter a similar experience.
BTW, what color and trim level is your Z?
08-08-2002, 07:15 AM
#43
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HZ,
Actually, the law was in effect, the other party was not permanently injuried. I can not go into the details of the settlement, but I can say this. The judge who presided over the case told me point blank, that it does not matter what is on the books, it is what a jury decides. Oh, and by the way, this judge is now a managing partner for one of the states largest law firms and up for appointment to the FL Supreme Court.
As I have been told so many times, by lawyers, the statutes are a guideline and not an absolute.
I am not sorry I learned this lesson an a young age, but never take for granted what is printed in a law book, because there are a million loopholes behind that law.
As they say here in Florida, 'The rules are different in Florida!'.
Jim
Actually, the law was in effect, the other party was not permanently injuried. I can not go into the details of the settlement, but I can say this. The judge who presided over the case told me point blank, that it does not matter what is on the books, it is what a jury decides. Oh, and by the way, this judge is now a managing partner for one of the states largest law firms and up for appointment to the FL Supreme Court.
As I have been told so many times, by lawyers, the statutes are a guideline and not an absolute.
I am not sorry I learned this lesson an a young age, but never take for granted what is printed in a law book, because there are a million loopholes behind that law.
As they say here in Florida, 'The rules are different in Florida!'.
Jim
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