Here are several tips on why you need to find out what insurance the other party has and also how to accomplish this task...
1
Confirm All Policy and Coverage Details
Your attorney will confirm what amount of liability insurance the other party has and the names of all insurance companies. Sometimes the responsible party has more than one type of liability insurance policy providing them with benefits and so an experienced attorney will make sure he discovers all the relevant information. If the other party was working at the time of the incident (in the scope and course of employment), the employer may be a potential defendant and all employer related information is also obtained.
2
Protect Your Rights
On more than one occasion in the past, there have been times when the automobile insurance company for the responsible party represented to us that only $100,000 was available in insurance. After we filed our lawsuit and during the discovery process which takes place during litigation, we later learned of an additional $1,000,000 umbrella liability policy with another company. The first company either didn’t know about the umbrella policy or, conveniently neglected to tell us about. Unfortunately, many unprepared attorneys would have advised their clients to simply take the only insurance they were told of… the $100,000 policy. You need to make sure that you're not one of those clients!
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