You get a new insurance company 'cuz that one is crooked a'f.
Also, sounds like entrapment. If i were driving and bill gates had his $10m hovercar in the street, **** him...aint nothing should be on the road that the average person can't pay for.
Hitting a parked car, no dispute of fault.
NJ minimum limits for property damages is ONLY $5,000.
So your insurance writes a check for $5,000 and for every dollar over $5,000, the owner can sue you for the balance.
There is like about 5 states that have the minimum of $5,000 which makes no sense, since if you buy the minimum you are legal, but not aware of how much it can cost you to (not) have enough insurance to cover you.
You pay for it out of the money you saved on your insurance by having such low coverage.
Only a psychic can tell you "what happens", BEFORE it happens. I suspect however, that you will soon find out that you will be on the hook for the balance and you will very soon know "what happened".
Same thing that happens everywhere else: You pay the rest personally.
When you buy the absolute legal minimum amount of coverage, you're saying "I'll cover everything else myself if it happens" and signing your name under it. Lots of people have tried to un-agree to that agreement later because they didn't like how things turned out, but none have succeeded.
Then you have to pay the rest of the damage yourself, with your own money.
You're on the hook.
You are liable for the damage, and may be liable for collection costs if they seek (legal) help to collect.
You have to pay the remainder out of your pocket. Did you think you would be off the hook because you purchased insufficient liability coverage?
Pay out of pocket or wait to get sued in small claims court.
You pay the difference. You do it with a smile.
Or, you get sued, then you pay the difference plus the other guy's court costs.
You pay the difference .
You get sued for the balance of the damages, but look at the bright side, your cheapassed insurance saved you money over the big insurance companies that would have paid for it all outright.