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Is the existence of insurance coverage important?

April 26, 2017existence insurance coverage

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Is the existence of insurance coverage important?

3 Answers

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It is always important. It is very difficult to collect on a large judgment against an individual, even a corporation. Thus, the existence and amount of insurance coverage is always very important to determine.

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Yes. It is critical. It is usually unlikely that the person or entity that caused your burn injury will have the assets necessary to cover your enormous potential damages. Even a company with a relatively large insurance policy of $500,000 or $1,000,000, may not completely cover the damages in a clear liability case in which there is a serious burn injury. This is one of the reasons why an early investigation is so important; that is, to develop evidence against multiple wrongdoers who, in totality, may be able to cover your damages either through assets or insurance.

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Yes. It is critical. It is usually unlikely that the person or entity that caused your amputation will have the assets necessary to cover your enormous potential damages. Even a company with a relatively large insurance policy like $500,000 or $1,000,000, will not cover the damages in a clear liability case in which there is a traumatic brain injury. That is one of the reasons why an early investigation is so important; that is, to develop evidence against multiple wrongdoers who, in totality, may be able to cover your damages either through assets or insurance.