Posted on Saturday, November 25th, 2023 at 9:00 am
Car accidents can result in life-changing injuries. Suppose you’ve been injured in a crash that wasn’t your fault once you’ve exceeded the policy limits on your Personal Injury Protection policy for your medical expenses. You can turn to the at-fault party’s insurance to cover your remaining expenses and other losses.
At that point, you probably wonder, “How do car accident settlements work?” Knowing about the process of settling a car accident claim puts you in a stronger position when dealing with the crash’s aftermath.
Definition of a Car Accident Settlement
A car accident settlement is an agreement between the parties involved in the crash. The person or entity that caused the crash pays the injured party money to cover their injuries and losses from the accident. The settlement will usually be between the at-fault party’s insurer and the injured party. The compensation to be paid will likely include the cost of medical care, lost wages, pain and suffering, and other losses.
Once the parties reach an agreement, all parties will prepare and sign a settlement agreement document. The settlement agreement will contain a release saying that, in exchange for the agreed-upon settlement amount, the injured party will release the at-fault party from further claims.
What’s the Process for Settling a Case?
Although no two cases are alike, a variety of steps recur in nearly every car accident case. Those steps include:
Get Medical Care
Immediately after an accident, it is vital to seek medical care. Seeing a physician right away provides advantages in several ways.
- A medical examination after a motor vehicle collision can spot injuries you didn’t notice.
- A medical professional can document your injuries and link them to the accident, which will be evidence in your claim.
- Getting treatment immediately prevents any injury you received from worsening because of a lack of care.
Report the Accident to the Police and the Insurance Company
Immediately after the accident, call the police. State law requires that you call the police if anyone is injured or killed or if there is property damage of $1,000 or more. The attending police officer files a report outlining the accident and makes note of any citations. Remember to request a copy of the accident report before the police officer leaves. If they cannot give it to you, ask where you can pick it up. An experienced personal injury attorney can also obtain it for you.
Alert your insurance company as soon as possible. Your attorney can also alert the at-fault party’s insurer. If anyone from an insurance company calls you, you can refer them to your lawyer. Refrain from apologizing for the accident, as an apology could be construed as an admission of fault.
Contact a Car Accident Lawyer
Having a lawyer handle your case can result in a higher settlement because of their skill and experience in assessing the value of a case, negotiating with insurance adjusters, and preparing a strong case for trial. Take advantage of the free case review many lawyers offer and interview lawyers until you find one you trust to take your case.
Determine the Value of Your Case
Your attorney calculates your losses and demands the insurance company for the money you’re due. Common elements of compensation that could be included are:
- Medical expenses: These costs include all medical expenses from ambulance transportation, emergency room care, X-rays, MRIs, surgery, nursing care, continued nursing care at home, assistive devices, and home alterations to accommodate disabilities.
- Lost wages: If you’re off work because of the accident, you can claim your lost wages, including bonuses and commissions.
- Pain and suffering: Physical pain and emotional and psychological harm you suffered after the accident are intangible losses your attorney can assess and assign a value to.
- Property damage: Costs to repair or replace your vehicle or personal property damaged in the crash can be recovered.
Submit the Demand Letter
Once you’ve reached the point where further treatment won’t improve your condition, your attorney will send a demand letter to the at-fault party’s insurer. This letter will outline your case, provide copies of some of the evidence your lawyer will present in court, and advise the insurer how much compensation you require.
What Is the Timeline for the Settlement?
This timeline for settlement varies from one case to another. The case could settle in a few weeks or months if the injuries are minor. However, if you suffered debilitating or life-changing injuries in the crash, settling will take longer. Negotiations with an insurance company usually don’t begin until you reach the point when further medical care doesn’t improve your condition.
Other factors, such as debates about who the responsible party or parties are, the severity of your injuries, and the extent of any permanent impairment you suffered, can slow negotiations. All of these elements serve to extend the timeline for a settlement. If your injuries are life-changing, it may be years before a settlement is reached.
Benefits of a Car Accident Settlement
One of the biggest reasons to settle your case is to obtain compensation sooner. A lawsuit can drag on for months and even years in extreme cases. The longer a lawsuit continues, the greater your financial exposure will be, not to mention how the stress of knowing that you’ll be going to court can affect your life.
Another benefit of an early settlement is that it reduces your legal costs. Despite personal injury lawyers working on a contingency basis, out-of-pocket costs increase quickly.
Finally, a settlement lets you avoid the uncertainty of a trial. There are no guarantees that the judge or jury will see things your way.
Filing a Lawsuit
If all efforts to reach a successful resolution fail, your attorney can file a lawsuit in civil court. In Utah, the law allows a four-year window from the date of the accident in which you can file a lawsuit against the at-fault party. However, a settlement between parties is still possible. You can settle your case even though the lawsuit is underway.
Call the Attorneys at London Harker Injury Law for Help
Our car accident lawyers are available 24/7 to help you obtain the compensation you deserve. Call us at 77CARCRASH to schedule a free case review. We can answer your questions and discuss all your options for pursuing compensation. Don’t try to deal with an accident on your own. Let us do the heavy lifting for you.
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