Auto Insurance Claims: Property Damage -at fault, rental car company, assest

Question
Rich I am sorry to not to include this question in my previous follow-up but it looks like the most important question in my head right now.

If the other drives decides to use his underinsured coverage( I am sure he has as he is very wealthy guy wit a very luxury car), what will happen? I guess his insurance will pay for it and come after me to collect it? How likely is it for the insurance company to sue me for the balance.

Thanks,

Brian
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The text above is a follow-up to ...

-----Question-----
Hi Rich,

I was involved in a traffic accident (I am at fault) while I was on vacation and driving a rental car. I didn't get the coverage as I relied on my credit card's coverage as well as my car insurance.

The other car (quite expensive) only had some rear passenger side damage and a flat tire but I was told that the total damages were $21,000. My insurance informed me that they sent a release form to the other party's insurance that they will pay upto my limit which is $15,000. It has been 3 weeks since they sent the letter, as of today, they have not declined to sign it but didn't sign either. Here are my questions:

1. My insurance is telling me that they may sign it. If they can come after me to get the remaining, why would they bear the cost and sign?
2. If they decide to not to sign the release and come after me, do I have to accept the difference and pay for it before they go to court? Can't I question the accuracy of the estimate?
3. can they go to court without even negotiating with me? If they do and court rules in their favor (which is very likely), does it affect my credit history?

Thanks for your time and I appreciate your answers.

Brian
-----Answer-----
Hi Brian,

I'll try to answer your questions in order.

1)The rental car company may sign the release and give up the balance if they beleive that you have no assest to go after.

2)You do not have to accept the difference before they go to court.

3)Yes. They can go to court withour negotiating with you to try to seek a judgement for the full amount.

You should request not only a copy of the repair estimate for the other car, but also a copy of a paid receipt or copies of checks as proof that that is the amount that was actually paid for the repairs. If after you receive these things you feel confident that the costs are real, then you should contact them to try to negotiate a settlement. If they go to court you will likely end up also paying for court costs and attorney fees. So do your best to negotiate the best deal possible.

Lastly, since you now know that it is possible to cause more than $20,000.00 in damage to another car, call your insurance company and raise your property damage liability coverage to $50,000.00.

I hope this helps
Richard Hixenbaugh

Answer
Hi Brian,

It doesn't really matter either way. They will likely try to get the balance of the money from you. However, long before it would go to court, the insurance company will contact you to try to make a payment arrangement.

I hope that answers your question.
Richard Hixenbaugh