My question involves an injury that occurred in the state of: OH

I was involved in an accident in November 2008. I was turning left and a pedestrian (was riding a bike) came out of nowhere after I made my turn and got hit. He was injured. I did everything I was supposed to do. I am not admitting the fault. I made sure it was clear before I made the turn. Few days later, I got a letter from an attorney firm about that person suing me. I discussed this with my insurance company immediately then. I'm not sure how long it's gonna take my insurance company to resolve this. At first I received a letter saying they will resolve this issue within 60 days, then another letter saying the case is still in progress hopefully this will be resolved in 90 days, and then never heard from them again. It's been more than 8 months now and I just got a letter from my insurance company saying that my coverage limit has been exceed and now I am liable for all of these and I should get my own lawyer from this point. I don't know how to handle this, should I let my insurance company handle the case and then pay the bills or should I hire my own lawyer for this? (I really can't afford a lawyer) And if this takes longer and longer, how much am I expecting to pay? Please give me some guidance.