If you have been in a car accident, sometimes it is best to resolve the case through a settlement negotiation. Most car accident cases are resolved through settlement negotiations between the injured party and the insurance company. In a settlement, claims can often be favorably resolved without going to court.
Before negotiating with the insurance company, you must understand the following two things:
- Reporting your car accident to the local police department, country sheriff or state highway patrol is important. A written report can be used as evidence when negotiating with the insurance company.
- Car accident liability is determined on the basis of two systems identified as an at-fault system and a no-fault system. Your car accident settlement process will depend on which system your state follows.
At-Fault System: In the at-fault system, the party who was at fault for the accident is responsible for the damages. If your accident was caused by the other driver, you can file a claim with your own insurance company or file a third party claim with the other driver's insurance company.
No-Fault System: In the no-fault system, you are entitled to collect economic damages regardless of who was responsible for the accident. Your insurance company must pay you for personal injuries up to your policy limit.
The Settlement Process
A settlement means resolving a car accident dispute with the insurance company without going to court. A settlement enables the injured party to recover damages for any medical expenses, loss of income, and pain and suffering that resulted from the car accident.
You must first gather any and all necessary information and evidence that will support your claim including police reports, medical records, medication and treatment receipts, witness testimony and photos. This may be followed by drafting a letter to the insurance company that states your claim, explains your injuries and describes the damages you would like to recover.
After sending the letter, the insurance company will investigate your case and determine whether to accept or deny your claim. If your claim is accepted, the insurance company will make a settlement offer. During this stage, both parties can negotiate and come to an agreement. Once both parties reach an agreement, it results in a settlement. Once a settlement is reached, the insurance company will have to compensate you for your injuries and damages and, in return, you will have to sign an agreement releasing you of your right to make any further injury claims.
Do you need help? Contact our experienced car accident lawyers!
If you need help in resolving your car accident case through a settlement negotiation, contact us. We have the experience to handle the fight against the insurance companies and get you the maximum compensation possible. To speak to our car accident lawyers, call 203-445-6542 or 877-828-4279, or email us at email@example.com.