When you have been injured by the negligence of a third party, the last thing you want to learn is that they lack insurance or other assets to cover the damages. The same is true if they have insurance, but the policy cap is substantially less than what you deserve for medical costs, lost wages and other harms and losses. If the at-fault party is unable to provide you with just compensation, what can you do to take care of yourself and your family?
The Missouri’s Tort Victims’ Compensation Fund may be able to offer you some relief in cases like these.
What is the Missouri Tort Victims’ Compensation Fund?
People who were injured by the negligence of another person but are undercompensated due to lack of insurance, inadequate insurance, bankruptcy, or other reasons may be eligible for compensation through the Tort Victims’ Compensation Fund.
The Fund can provide a great opportunity for victims who would otherwise not be able to recover financially due to the negligence of another.
How Does the Tort Victims Compensation Fund Work?
The Missouri Tort Victims’ Compensation Fund is funded through punitive damages awarded in civil claims across the state. Suppose a drunk driver causes a fatal accident and his family is awarded $100,000 in punitive damages as punishment for his misconduct. Half of the punitive damages awarded to the family goes into the Missouri Tort Victims’ Compensation Fund. Fund payouts are calculated based on the Fund’s total financial value and the number of claims it is currently facing. Currently, the Fund will pay out a maximum of $300,000.00 per case.
Am I Eligible to File a Tort Victims Compensation Claim?
The injured person must reside in Missouri or have experienced an accident there in order to file a claim with the Tort Victims’ Compensation Fund. If the injured person is deceased, a surviving spouse or specific family member can file a claim. Additionally, one of the following requirements must be met:
- Despite winning a personal injury or wrongful death lawsuit, the injured person was unable to collect their full monetary award.
- Injured parties were forced to settle for full policies limits of liability insurance, which did not cover the full extent of damages.
Following the final judgment or appeal, claims must be filed within two to five years. It is important to file the claim as soon as possible after the judgment and/or appeal are final. A personal injury attorney can help you determine if you are still eligible.
How Can an Attorney Help Me File a Claim?
When you have been injured by someone’s negligence, but are concerned the at-fault party will not be able to repay you for the damages they caused, talk to a lawyer to find out if you qualify for the Tort Victims’ Compensation Fund. A lawyer can help you gather and submit the necessary documents and information about the injury, including information about your lost income, your medical records and bills, your other harms and losses, and the amounts available from the defendant or defendants to compensate you.
Having an attorney handle your claim will save you time and stress and ensure you receive the maximum compensation available from the Tort Victims’ Compensation Fund.
Our Overland Park personal injury attorneys at Morefield Speicher Bachman are committed to obtaining maximum compensation for our clients. Our law office knows how to help clients increase their recovery by exploring their options and filing a claim against the Fund. Contact us today at (913) 839 2808 to schedule a free consultation.