2 Important Terms You Should Know Before Speaking With Your Insurance Law Attorney About Your Accident Or Error

If you have recently been involved or are thought to be responsible for an accident or error that is believed to have resulted in injury to one or more persons, it is important to speak with your insurance law attorney about any possible liability and resulting litigation. Assuming that the evidence suggests you were at fault, it then becomes necessary to transfer that liability to the insurance company responsible for determining appropriate reparations through a process known as indemnification. In order to protect your interests and provide for a quicker resolution to the problem, it is essential to understand the process and be familiar with both litigation and indemnification; as well as how how they will pertain to your case.

Do You Understand What Litigation Actually Is?

You may already be aware that litigation is generally considered to be the first step, after research and compiling enough reason for the suit, of actually starting a legal action in court. Specifically, if a suit is started in court with the purpose of enforcing particular rights, often financial ones and the the right to compensation after injury, it is litigation. It is important to note that this act can occur in city, county, state or federal levels, and the goal is to eventually determine an appropriate solution to the issue.

Do You Know What Indemnification Is?

If there is reason to believe that you caused or contributed to the event that resulted in injuries, there is an excellent possibility that any injured parties will file suit, in order to cover their financial losses from medical expenses, lost work, pain and suffering, etc. That is an example of indemnification. Therefore, you must protect your interests, rights and assets by speaking with the insurance law attorney.

He or she will be able to make sure that the insurance companies will make appropriate financial reparations. At the end of the day, one of the most important reasons to have adequate insurance is to make sure that if an accident or injury occurs, you are not ruined financially by the event. Being able to transfer your alleged liability to the appropriate insurance company, which usually means their lawyers, is indemnification. Due to the fact that you planned ahead and had enough insurance, your insurance concerns are diminished or eliminated in most cases.

Insurance for almost any product or service is typically something that everyone should have and nobody ever wants to use. If you are unsure as to the details or financial coverage by your insurance company, be sure to ask them appropriate questions about the extent of your coverage and rights in the event a claim is ever filed. For more information, contact an attorney in your area.