Have you been injured in a car accident? Are you seeking a car accident injury settlement?
Many people receive payments for the damage they’ve suffered after vehicular accidents. This helps them cover the growing mound of medical bills they have acquired and makes up for any loss in income due to work. It enables them to continue to afford their lives despite their injuries, which are sometimes debilitating.
So do you want payment for your injuries?
If so, you might wonder about the car accident injury settlement process. How does it work?
Below, we go into the steps of getting a car accident injury settlement. Keep reading to learn more!
1. Your Lawyer Sends a Notification Letter
After you hire a personal injury lawyer, your attorney will send the other party’s insurance company a notification letter as the first part of the car accident injury settlement process. The document lets them know you have been injured and now have legal representation.
It lets them know that you intended to pursue legal means to get a fair settlement. The insurance company then responds with a “reservation of rights” letter, which lets you know they reserve the right to investigate the incident on their own.
Following receiving this letter, you and your attorney work on making a demand.
The demand includes all of the evidence surrounding your injury and details any of your other damages, including loss of income or mental trauma. It outlines the parameters by which you plan to receive compensation and will make an initial settlement demand.
That way, the other party knows you are serious about receiving compensation.
After receiving the demand, an adjuster from the insurance company will contact your attorney with a reply.
At this point, they have the opportunity to give you a settlement offer. Yet, they most often say your demand is too high. This doesn’t necessarily mean you don’t deserve the money you and your attorney asked for, though. The adjuster’s job is to negotiate the price lower so the insurance company doesn’t have to pay as much.
If they offer a settlement, your attorney reviews it and then advises you on whether or not to take it. Should you settle, the case is over at this point.
Should the adjuster say the demand is too high, the negotiation process continues as detailed below.
You and your attorney negotiate with the insurance company. During this phase, you might have a lot of back and forth, trying to get to a price that both sides find agreeable.
Even though it might seem discouraging if a company continually denies your asks for more money, remember that if they don’t pay you, they have to go to trial. They don’t want that, as it’s expensive.
Car accident settlement payouts vary based on the severity of the injury and the damages involved. Most people pay between $3,000-$25,000, but others win much more.
At any point in this process, the two sides have the opportunity to settle. If they don’t settle, the case will go to trial.
On the day of the trial, both sides will go to court, and a judge will hear the case. Your lawyer will present evidence of your injuries, as well as any documents that determine fault, and make your legal arguments, and the other side will make theirs.
Then, the judge will issue a ruling, by which both sides must abide.
Ready to Start the Car Accident Injury Settlement Process?
Are you ready to start the car accident injury settlement process?
Vehicular accident settlements often help people recover from their expenses from suffering injuries and other damages. Although the process can take a long time, people often get thousands in settlements.
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