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2 Types of At-Fault Parties That Often Carry Extra Insurance

The responsibility for paying for auto crashes usually stops with insurance. They pay for damage to vehicles, other property and even for injuries to other drivers. The insurance company for the party at fault pays.

It all sounds relatively simple. However, the reality is often much more complicated than the theory. One of the finer points of getting the best possible settlement or court decision for an auto injury is determining exactly how much the party responsible is able to pay. If the offers seem low — less than a collision victim would need to recover from injuries, for example — there could be more than meets the eye in certain cases.

1. Trucking companies

Trucking companies, tourist services and taxi operators usually have a good deal of experience with or knowledge of accident law. They may know that reporting accidents carries a risk: More expensive insurance could increase the cost of doing business and reduce profit margins. As a result, these types of high-risk entities may have insurance that they do not use immediately. In fact, these types of companies often need a little convincing before they decide to use their supplemental insurance policies.

2. Wealthier drivers

Wealthy people generally do not become wealthy by spending money they do not need to. However, part of condensing and maintaining large amounts of money is guarding against risks. Insurance is one of the ways many people do this, and those who have money tend to buy as much insurance as they can reasonably afford.

Supplemental policies carried by these resource-rich parties could cover many types of expenses that standard insurance coverage may not. That could prevent the victim in a crash with a well-insured driver from having to go without treatment or live unassisted with the pain and suffering the injury created.