Did Your Accident Involve Deep Pockets?
Posted on: 8 March 2022
Having deep pockets refers to financial compensation after a wreck. You are always entitled to be paid after an accident that was not your fault. However, if your wreck involved a commercial vehicle or a company driver, you need to understand how your case is different than others. Read on and find out more.
Liability and Accidents
Accidents usually happen because of the actions of one driver. If the other driver caused the accident, they hold liability for the damages. Damages include injuries, vehicle damage, and more. That means that the other driver, or their insurer, is liable for paying your damages. It's difficult to drive anywhere without encountering drivers in commercial vehicles. More and more consumers demand goods to be delivered to their doorstep, particularly because of the pandemic. It might seem as if half of all vehicles sharing the road with you are vans, 18-wheelers, repair trucks, and more. That also means more and more drivers are hit and hurt by commercial vehicles.
What is Meant by Deep Pockets?
Accidents with other vehicles could mean being hit by a driver without insurance. However, very few commercial vehicles are without insurance. That is not why some companies are referred to as having deep pockets, though. When the company carries less than adequate coverage, victims have the right to take things a step further and sue them for what they deserve but that may not be covered by their insurance. Try doing that with an ordinary driver, and you could come up empty. For instance, policy limits could mean accepting a small settlement if the accident involved an uninsured driver. If you are still owed money after the insurance has reached its limits on a commercial vehicle, though, the company itself may have other means of paying what they owe. Some, for example, carry general liability policies (umbrella policies), and they will pay to avoid being taken to court.
Taking Deep Pockets to Court
No one wants a case to go to court because of the time and expenses it requires. Deep pocket plaintiffs are also not eager for any bad publicity that could result from a trial. In some cases, trials could uncover additional issues with companies and their drivers, like:
- Drivers who are not trained to drive vehicles of that size.
- Drivers that are not drug or alcohol tested frequently enough.
- Drivers that are pressured to make delivery deadlines and that must drive carelessly to do so.
Not taking it to court means an enhanced chance of a good settlement. It would be a mistake to treat such an accident as you would any other. Speak to a personal injury lawyer about your accident involving a commercial vehicle and learn more about what makes it unique. Contact a local auto accident attorney to learn more.Share