It just occured to me after reading some of the posts about insurance claims. Say you get into an auto accident, and you sue the other party for money and won say like.... 1 million dollars. Who pays for it? Do they pay in installments or one big fat check? I know if I lost the case, the other person will definally not see the 1 million cause I don't have that much.

can someone with experience shed some lights for me?

Thanks

 

I believe they would just garnish your wages by taking out a certain percent of each paycheck. This reminds me of the OJ case where he was ordered to pay the family millions of dollars, and I don't think he has given them a cent yet. Hopefully someone else here can let us know for sure how it's done.

 

If they have insurance, the company will pay to the maximum of the policy. If they have $10K in liability protection that's what you get. More than likely, they'd file for bankruptcy that allows them to keep their home (in most states) and some other assets but negating your claim (except in some states). Unless you sued Bill Gates and won, the odds of collecting $1M from the average Joe, even if that's what you were awarded, are slim to none. That's why for those that own homes, having less than $300K worth of auto liability protection isn't smart. Those with a lot of assets should also consider a supplementary umbrella liability policy that only costs a couple of hundred dollars a year for $1M worth of coverage.

 

barry h is the new acura cl spokes person. his reply to 1995 m3 boy was perfictly put. he even gave a conservative quote of what true cl s owners have paid. ha this guy has a 7 year old car and he is talking shit. i agree, if i wanted an m3 i would and could throw up cash like i did for my 2001 cl s that i bought cash in june of 2000 (not to mention the 7,ooo of mods since) hahahhhahhahhahahaahaahhhahahaa.thanks barry h u tore him a new asshole to shit out that old fucking car he is driving.