In the 2004 German movie The Edukators, part of the characters motivation revolves around a damage reparation:
"Jule is a waitress struggling to pay off a €100,000 debt she incurred a year ago when she crashed into a Mercedes-Benz S-Class belonging to a wealthy businessman named Hardenberg"
Around the world, specifically Germany, US and Brazil, I'm wondering how realistic this would be. In particular if the responsible party had car insurance with reasonable (but not infinite) coverage for third party.
In practical terms, let's say I have car insurance, which covers around 50k local monetary units in damages to third parties. Then I hit a very expensive luxury car, say a Ferrari, which for the purpose for this example is worth ten million local monetary units. Totaling 8 million in repairs costs. I readily call my insurance to reimburse the Ferrari owner. If taken to court, how much could I actually be charged in each of those countries?
My assumption is that I've made my precaution for paying any third party a reasonable amount (50k should pay the repairs for any regular car). After a certain amount, the owner of the Ferrari should be aware that he cannot reasonably expect that a regular person would or should have the means to repair his damages, hence after some amount it should be his problem.
In that case, for each of these countries, would I have to spend the rest of my life with debt? Would the insurance let me walk free of any further headache? Or would there be a reference amount I should pay on top of the insurance coverage?
Edit: For clarification, only property damage is assumed, no injured people.