An agreement made between the victim of an automobile accident and the negligent party’s insurance provider is known as a settlement. Depending on the specifics of the case, it might be difficult to decide whether to settle a personal injury claim or proceed to trial. Because of this, it’s crucial to have a competent attorney and be aware of the procedures involved in settling a vehicle accident case. Discussing your case with a car accident lawyer is crucial since they are the ones that can help you and protect you from insurance companies. Your lawyer is the only person you can trust in a car accident case.
Asserting a Claim
When asserting a claim, your injury lawyer will submit a claim on your behalf with the negligent driver’s insurance provider if you haven’t already done so. If so, your lawyer will inform the insurance company that you are now represented concerning that claim.
The insurance company looks into the crash after a claim is made to comprehend what happened, assess liability, and calculate the total damages. Liability and damages are the two categories into which the investigation is typically divided.
Review of Insurance Policies
Who pays for medical expenses, property damage, and other compensatory damages is normally governed by state law. Damages are distributed according to blame in states where there is a comparative fault, like Missouri. For instance, if one motorist was entirely at fault, all damages should (in theory) be covered by that driver’s insurance plan. On the other hand, the insurance company will cover 90% of the losses if the motorist is 90% at fault.
Only if the injured party bears less than 50% of the blame for the accident can they be awarded damages in a state that follows a modified form of comparative negligence, such as Illinois. No matter what caused the collision, property damage and medical costs are initially covered by each driver’s insurance in “no-fault” jurisdictions like Kansas. Only if the damages exceed a specific amount does the insurance company for the driver who was at fault become involved.
Both state law and the terms of the relevant policies will be carefully examined by insurance companies and personal injury attorneys. Insurance policy restrictions can have a significant impact on the settlement amount in an automobile accident case.
Negotiation of a Settlement
After the insurance company receives the demand letter, there are various possible reactions. The demand letter is acknowledged, and the matter moves forward to the conclusion of a settlement agreement. The negotiation process continues after a counteroffer is made.
Separation or Trial
If settlement talks are successfully concluded, the parties sign a settlement agreement, ending all legal action related to the matter. If the parties are unable to come to terms, a personal injury case may be submitted to the court to seek restitution. Even though the majority of vehicle accident cases are resolved outside of court, a trial may be necessary if the insurance provider remains silent or declines to offer a reasonable settlement. A skilled auto accident attorney can assist in deciding if a case needs to go to trial.