Q: if i settle claim with third party am i able to file claim with my own auto insurance - under insured with in the statu
this is regarding a bike accident happened in april 24th 2016. i was not at fault. the total sum of past and future economic damage is greater than 50000. the third party agreed to settle the policy limit which is 50000. i am planning to approach my own auto insurance company to get support for my future economic damage under underinsured motorist part. should i keep my claim open with third party while i work with my auto insurance or can i accept the settlement from third party insurance and work with my auto insurance with in my statute term limit.
A: You usually need the consent to settle from the underinsured carrier. May be more than one if someone in your household also has it, depending on your state's law and the contracts. Note that in some states you have to repay liens out of the settlement, so if you are d.i.y'ing it be sure you know all the potential "fails" you can have.
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