If you were the negligent driver in a car accident and the driver or occupants of another vehicle were injured, you could bear financial liability. You could be concerned about covering the accident’s costs and wonder, can I lose my house due to an at-fault car accident? Most likely, you will not lose your home, but this does not absolve you of the obligation to compensate the car accident victims.
The Florida Homestead Exemption helps you avoid losing your home, but you could still be legally obligated to compensate them for their injuries and related expenses and losses. With a free consultation at a local law firm, you can find out how a Fort Lauderdale car accident lawyer can help you resolve your debt without losing your home.
How Florida’s Homestead Exemption Act Protects Homeowners from Liability
According to Florida Statutes § 196.031, commonly known as the Homestead Exemption Act, your primary residence is protected from a house loss car accident. It protects homes of any monetary value—even high value—as long as it meets the required specifications. The injured party cannot force the sale of your home on a lot that is up to a half-acre in cities and 160 acres in rural areas.
If you are represented by a lawyer, they can help you navigate this complex legal matter. They may recommend that you:
- Carefully review your auto insurance policy to find out what compensation it can provide to the injured party or parties
- Create a detailed list of your exempt assets (like your home) and your non-exempt assets that might be subject to claims after an at-fault accident house
- Develop a plan to protect your potentially susceptible personal assets as much as possible
You will still owe the compensatory damages that follow a car accident. A lawyer can help you create a payment plan or other arrangement to meet your legal obligation.
Damages an At-Fault Driver May Be Liable for in a Florida Car Accident
The plaintiff (injured party) in the accident will request compensation from the defendant (at-fault driver—you, in this case) for the following economic and non-economic damages:
- Accident-related medical bills
- Accident-related lost wages
- Loss of future earning capacity
- Property loss car crash
- Diminished property value
- Disfigurement or disability
- Physical pain and suffering
- Mental and emotional anguish
- Wrongful death damages, if applicable
Their attorney will carefully detail and document the value of their compensation request and their right to compensation in the first place. Your insurance provider or legal representative can help you negotiate a settlement that is fair and appropriate.
A Car Accident Victim Has Other Avenues for Recovering Damages
In most cases, a car accident victim will seek compensation by filing a claim with your insurance company. If they are considering suing you, the most likely reason is because you did not have insurance at all or did not have adequate insurance coverage.
1. Personal Injury Protection
The personal injury protection (PIP) portion of their own insurance policy will cover many of their immediate post-accident expenses. This typically includes medical expenses and lost wages. The injured party has a limited time (14 days) to seek medical care and tap into this form of financial recovery.
2. Uninsured and Underinsured Motorist Coverage
The uninsured (UM) or underinsured (UIM) portion of their policy may cover their expenses and losses. Their insurer may request these damages from you in a process called subrogation.
3. Personal Lawsuits for Compensation After a Car Accident
If all other efforts at recovering damages are unsuccessful, the plaintiff may take you to court. They could attempt to recover compensation for damages via your assets (other than your home), by requesting:
- The garnishment of wages
- Forcing the sale of your vehicle
- Additional recovery methods
Their attorney will inform the injured accident victims of their rights, your responsibilities, and all available options for financial recovery.
Essential Steps for At-Fault Drivers After a Florida Car Accident
After a car accident, everyone involved has responsibilities to meet. As the at-fault party, it is important to accept responsibility and follow all laws and requirements in the car accident financial impact. You should:
- Remain at the accident scene since failure to do so could cause you to incur substantial fees
- Complete a police report, a mandatory part of any accident where anyone is injured, a fatality occurs, or damage exceeds $500
You should also exchange insurance and license information with the other involved driver. Let a car accident attorney deal with both insurance companies (yours and the injured party’s carrier) for you. They can help you avoid saying or signing anything that might obligate you prematurely.
Obligations of the Injured Party After an Auto Accident
With the limited exceptions found in Florida Statutes § 95.051, they generally have two years to file a personal injury or wrongful death lawsuit, according to Florida Statutes § 95.11.
If they meet the statute of limitations, they can pursue compensation via all of the avenues above. Your legal and insurance representatives will track the statute and ensure that any accident lawsuit is filed within the time limit or dismissed.
Comparative Negligence Could Limit Your Financial Liability
Financial liability after an accident is assigned to each involved driver in percentage points. If the accident was 100% your fault, you owe all applicable damages to the injured party.
If, however, any degree of liability is attributed to the other driver, your financial liability could decrease, making your ability to compensate the injured driver easier to achieve.
Why Legal Support to Protect Your Rights Matters After an At-Fault Car Accident
Although you cannot lose your house due to an at fault car accident in Florida, you could suffer serious and costly financial penalties. If you were the driver responsible, the injured party could seek damages through an insurance claim or by suing you personally.
Learn more about your legal and financial responsibilities after a vehicle collision. Contact us to receive a free, no-obligation consultation from a legal team member at the Law Offices of Wolf & Pravato today.
