It depends.
Probably goes to court to get settled, which really means arbitration most of the time. The arbitrator will then probably make both of you 50% at fault, which, a lot of times, is the case.
From there it depends on your state.
It also depends on the policy coverages. If it starts to go to court (or arbitrator), if either you or the other person has low policy limits, they may just pay out the policy limit and call it done. You are then on your own (or the other person on their own), to defend and pay any settlement.
Very few individuals have $300K in liability or property damage coverage, so odds are, your insurance will have to kick in to help cover your losses. I'm assuming they already have and you are just trying to get made whole on this.
Well, with what little information you have provided, there is no telling where it will go from here. You probably know a bit more about where in the process it is.
