The at-fault driver’s insurance usually provides a refund for injuries supported in car accidents. However, what would happen if the driver was driving a company car or was using it at the time of the collision? In specific situations, you might be able to collect your damages by following the company’s investments.
Businesses frequently have larger financial resources and higher insurance limits. They may be appealing to those seeking compensation following severe incidents due to these combined circumstances. You can get the money you need for your rehabilitation and maximise your compensation by knowing when and how a business might be held accountable.
When Can You Pursue Business Assets?
If a firm is held legally liable for an automobile accident, you could be able to seize its assets.
The following are typical circumstances in which a firm may be held accountable:
- Company-Owned Vehicles: A business may be held liable for damages if an accident occurs involving one of its vehicles, such as a delivery van or ridesharing vehicle.
- Employee on the Job: Companies may be held liable for accidents brought on by workers carrying out their job-related responsibilities under the legal doctrine of vicarious responsibility.
- Negligent Business Practices: If a company’s negligence contributed to the crash — such as failing to maintain its vehicles or improperly training employees — you may have a valid claim.
Identifying the Business’s Liability and Assets
You must determine a company’s culpability and financial capacity to pay before demanding compensation from it.
This includes the following:
- Examining the Role of the Company: examining insurance plans, employer records, and accident reports to see if the company is legally liable.
- Identifying Available Assets: Companies usually have commercial insurance, but if their insurance limits are too low, their assets (including real estate, machinery, and income) can also be at risk.
- Tools for Legal Discovery: Subpoenas and depositions are tools that lawyers might employ in a lawsuit to learn more about a company’s financial situation and determine whether pursuing business assets is worthwhile.
The Legal Process for Pursuing Business Assets
When a business is potentially liable for a car accident, the legal process for pursuing its assets involves several steps. First, the company’s insurance provider is usually the target of a claim.
Medical costs, lost wages, and other damages may be covered by commercial insurance plans, which, as we previously discussed, frequently have higher coverage limits than personal policies. However, legal action to obtain compensation directly from the company can be required if the insurance coverage is too low.
It must be demonstrated that the driver was acting in the course of their employment or that the firm was careless to hold them liable. This may entail obtaining supporting documentation, such as maintenance logs, job schedules, and corporate regulations.
If negotiations with the insurance provider do not result in a fair settlement, the case may proceed to court. Here, a judge or jury may determine liability and the amount of compensation owed.
Businesses may try to limit their financial exposure or contest culpability throughout this procedure. They can contend that the accident was not caused by corporate policies or that the driver was acting outside of the firm’s bounds. It takes a solid legal strategy backed by verifiable facts and the help of an accomplished lawyer to overcome these defences.
Challenges in Collecting Business Assets
It might be difficult to get money from a company, even if you win a lawsuit. By shifting ownership to other organisations, reorganising their business, or filing for bankruptcy, several companies try to protect their assets.
When a business has several levels of corporate protection, another issue may arise. It can be challenging to determine which company is financially accountable when large businesses operate through franchises or subsidiaries. To make sure the correct person is held responsible in these situations, legal experts closely examine business structures.
Another potential barrier is bankruptcy. Depending on the kind of bankruptcy protection a company claims, collection attempts may be postponed or even stopped if it files for bankruptcy.
Why Legal Representation Matters
In order to successfully pursue business assets in a vehicle accident case, one needs to have extensive knowledge of corporate liability and legal experience. Most people require excellent representation to overcome these defences, and businesses frequently have legal teams devoted to minimising compensation. To get the money a victim is entitled to, an expert lawyer can look into business documents, bargain with insurance skillfully, and, if needed, file a lawsuit.
At Cohen, Feeley, Altemose & Rambo, Allentown car accident lawyers help clients navigate complex business liability cases and ensure they receive the financial support needed for recovery. With an experienced approach, they work to hold negligent businesses accountable.
Final Thoughts
If there’s any at-fault driver who does not have enough personal insurance or money, he can pursue business assets by following a car accident lawsuit. This move can be difficult for him, but it is necessary. There are many chances of legal obstructions like bankruptcy, and corporate protections may occur, but a qualified lawyer and a well-prepared case can improve your chances of getting compensation.
You need to speak with a knowledgeable lawyer if you think a company is to blame for your accident. You can research your opportunities for recovery and make sure you get the money that you are dealing for.
