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The law provides that you are entitled to recover damages from the person or persons whose wrongful conduct, whether negligent or intentional, injured you. Therefore, in the case of an automobile accident, you would be able to recover your damages from the driver or drivers who caused the accident.
Let’s forget about insurance for a minute. Assume you were in an accident caused by the other driver running a red light while intoxicated. You would be able to recover you economic and pain and suffering damages from her as well as, possibly, punitive damages. You could receive your compensation by settling with the other driver for a monetary payment or you could sue, go to trial and obtain a verdict that would then become a judgment.
Once you have a judgment, the only way to get your money is to execute on the other drivers assets. If the other driver has equity in real estate, money in the bank, and stock and bond portfolio and/or a good paying job, you may be able to recover most or all of your judgment. Procedures vary from state to state but you would generally employ the services of the sheriff to seize assets and you can obtain a court order garnishing wages. If the other driver has nothing, however, your judgment is worth little more than the paper it’s printed on; there is simply nothing to collect and the other driver might file for bankruptcy and wipe out the judgment debt. Keep in mind, though that, in most states, a judgment for punitive damages may not be discharged in bankruptcy.
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