I'm Getting a Lawsuit on Me for Hitting a Vehicle Years Ago

[theidiot]

In the United Kingdom.

2-3 years ago I was at fault of hitting another vehicle, my car was a total write off and the other drivers was badly damaged also. Everything was okay tho, the insurance paid out and I assumed that was it, I took it for granted that the most damage was my own vehicle and gladly never looked back. I think the driver went to hospital in shock but there was no injury that I know of.

Now this week I got a thick envelope threw my door full of legal details about a now current lawsuit against me. The driver of the car I hit tried to get money out my old insurance company, they offered half thier asking price, which the driver said no to, so now thier lawyers are gunning for me. But prior to this I got a letter threw from my insurance company saying to expect a letter threw from the drivers laywers, and when I get it, to forward it on to my old insurance company and thier lawyers will deal with it.

Well thats done and now I'm stressing out big time. I dont want to give too much information out, but the sum of money thier asking for is in the mid teens of thousands. I'm currently unemployed and have zero assets to my name apart from a van thats 10 years old. I still live with my parents.

What are the chances of my old insurance company failing to help? And what would happen if this was to go to court, I could get legal aid but undoubtly I'll lose so how would I even pay that kind of money out?

Would my old insurance company point out that accepting thier offer would be in that drivers best interests as they'd be getting a nice lump sum instead of the alternative of court and the fact I have nothing to give?

Any help at all please???

[theidiot]

thanks for the help and knowledge guys.

[Cahoonzie]

Without benefit of details:

Generally, your "OLD" insurance company is obligated to pay up to the limits of their contract (Policy) with you. As your agent and in their own interest, the "OLD" insurance company will make efforts to mitigate their damage which collaterally benefits you. Unfortunately, you are personally liable for damages over and above the subject policy limits (or settlement).

You are open to suit and all the stuff that follows e.g. constructive trust, sherriff's sale and the like. I would contact the "OLD" insurance company attorneys and offer any details that might mitigate total liability (like the other guy was somehow at fault).

The strategy is to make the most of the "OLD" insurance company policy limits in your favor. The more they pay, the less you personally pay. Remember, going against insurance company hired guns is a fatal mistake unless you have tons of money to invest in investigators, expert witnesses and the like. GOOD LUCK