If you fell in Georgia, you have to prove that Wal-Mart had "superior knowledge" of the wet and slippery condition. In other words, you did not...

What is the difference between "suing" other party or letting their insurance handle all cost and all the expences?

You are only "suing" the other party once you file a lawsuit. Many times, in clear liability cases, the insurance company for the at-fault driver...