Is the Defendant Insured or Uninsured? And is the Defendant Solvent Enough to Pay for Your Damages?
All Texas drivers must have liability auto insurance, and there are no exceptions. Several powerful technology tools and accessible databases allow law officers to know immediately if a driver has insurance. They can execute a certain amount of “street justice” by towing non-insured vehicles and giving their drivers costly tickets. But still, at least one-in-four Texas drivers don’t carry auto liability insurance. Whether or not an insurance company is involved in your case makes a huge difference in the outcome of your claim, and how it is handled. Certain conditions surrounding your accident (and winning compensation) can become convoluted and contentious, while others are relatively straightforward.
Suppose that both drivers involved in your accident were insured to some degree. Being insured is generally good news for you because when this happens, it usually means that – eventually –there will be at least some amount of money available to compensate you for your losses once you are successful in bringing your claim. And yet, most drivers with “street legal-only” insurance carry minimum coverage on their vehicle. Their policy may not fully reimburse you for your total losses if your accident was especially severe or expensive since the minimum amount is $30,000 for both injuries for each person and $25,000 for property damage. And how many vehicles on the road today are worth over $30k, not counting the property that was in the car?
Additionally, just because there is money that is theoretically available under an insurance policy to compensate you for your losses, it doesn’t mean that that money will be easy to get your hands on. Anyone who has carried minimum coverage understands that some companies pay better (and quicker) than others. And some, with both claimants as well as their customers in general, aren’t generally very responsive to any process other than taking in premiums, then dragging their feet when it’s time to pay-up. In just about any accident claim or a civil case where an insurance company is involved, it means you’ll face opposition. You will be up against aggressive adjusters, accident recreation specialists, defense attorneys, and investigators who are all working to make certain that you lose your case.
Then there’s the one-in-four chance (at least!) that the other driver involved in your wreck was uninsured. Hopefully, you have uninsured motorist coverage. Aside from that possibility, if an insurance company does not represent the other driver, that other driver will probably be held responsible for paying you for your damages. Your primary interest is in whether this driver who hit you is solvent. If a defendant is insolvent, it means that he or she does not have enough money to compensate you for your injuries. When a defendant is insolvent there’s little value in pursuing litigation against him, no matter how strong your case is in proving he should otherwise be held liable for your losses. It is an all too common reality that some accident victims are unable to recover compensation from insolvent defendants.
Sometimes, a driver who has been involved in a wreck will take desperate steps to hide his assets to appear insolvent. He or she might also try and hide this accident from their insurance company that threatens to drop coverage if this person gets in one more wreck. If you suspect this may be happening in your case, the auto injury attorneys at our Law Firm can perform an asset check on any accident defendant to find out how much they are actually worth. If there’s money available, we’ll find it and work to make sure you get your fair share.
The time after being seriously injured in a car accident is often stressful and confusing to the victims and their families. Don’t add to the stress and confusion by letting an inexperienced attorney handle your case or represent yourself when you are unqualified to look out for your or your family’s best interests. We are uniquely qualified and fully prepared to fight for and win the fairest compensation for your total damage claims. If you or someone you know was injured in a car accident, contact an attorney at our Law Offices today at 1(800) 862-1260 (toll-free) for a free consultation and find out how we can help you.