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Policy Limit Disclosure
My girlfriend was recently in a minor traffic accident where she bumped a pedestrian at low speed. The girl who was hit is now filing a claim and her insurance company wants to know what my girl friend's policy limit is.
I can't imagine they're going to sue for the maximum, but are probably looking for the amount they can get without having to litigate. In your opinion, is it wiser to be cooperative or keep the information private? If you could provide some general advice, it would be appreciated.
I would not disclose this information. This information only becomes pertinent when there is a likelihood that the damages and injuries will surpass your limit. If you think this is the case, then talk to your insurance company first.
You do not have to disclose, all you have to disclose is that you have insurance and that it is in compliance with the minimum state requirements (some states are $10,000 some $25,000) so it depends. If they want that information, they have to go through your insurance company (they will not disclose unless you want them too).
In either scenario, it is better to keep this private, you don't want them thinking that you have $100,000 so they can run up all the medical bills they want.
If you are handling the claim yourself or even if your insurance company is dealing with the other party, visit: http://www.auto-insurance-claim-advice.com
for tips on how to deal with situations like this one.
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