Being injured in a car accident caused by someone else’s negligence could entitle you to compensation for your medical bills, lost wages, pain and suffering, and more. However, obtaining a fair settlement is rarely a straightforward process. How do car accident settlements work? Understanding how car accident settlements work can help you protect your rights and get fair value for your losses.
Navigating Car Accident Compensation
A car accident settlement aims to compensate you fully for your injuries and losses after a crash. A settlement is essentially a negotiated agreement between you, the injured party, and the at-fault driver’s insurance company.
The insurer’s goal is to settle your claim as quickly and cheaply as possible. After all, they are a for-profit business. Your goal is to obtain the maximum amount of compensation to account for all your losses from the crash, including money for:
- Past and anticipated future medical expenses arising from the accident
- Lost wages and future earning capacity impacted by the incident
- Pain and suffering, including both physical pain and emotional distress
- Loss of enjoyment of life
- Property damage
To achieve a fair outcome, you need compelling evidence of the other driver’s negligence and the extent of your losses. Medical records, police reports, witness statements, photos of the accident scene, and expert analysis can all help prove your right to the compensation you deserve. A skilled car accident attorney can gather this evidence on your behalf while you focus on your health and recovery.
Key Steps in Settling a Car Accident Claim
While every case is different, most car accident claims follow a similar process. How do car accident settlements work? The key steps to follow include the following:
- You seek medical treatment for your injuries and notify the insurance companies of the crash.
- Your attorney investigates the accident, gathers evidence to build your case, and calculates the full value of your claim.
- Your lawyer sends the insurance company a demand letter outlining your injuries and losses.
- The insurer responds with an initial settlement offer, which is often much lower than your demand.
- Your attorney negotiates with the adjuster, presenting the insurance information, evidence and arguments to support your claim’s value.
- If your attorney and the insurer reach a fair settlement amount, you will sign a release and a settlement agreement, and the insurer will send you a check.
The timeline for a car accident settlement depends on the case. Some straightforward cases settle in a matter of weeks. More complex claims involving severe injuries, disputed liability, or uncooperative insurers can drag on for months or even years. No matter what, your lawyer can deal with the insurance company and handle the day-to-day progression of your case.
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How to Secure a Fair Car Accident Settlement
Achieving a truly fair settlement after a car accident is challenging. Insurance companies will try to take advantage of unrepresented accident victims, pressuring them to accept lowball offers before they realize the extent of their injuries and damages.
To strengthen your position and improve your chances of a favorable settlement:
- Seek medical attention immediately and adhere to your physician’s instructions.
- Maintain thorough documentation of all accident-related expenses.
- Refrain from providing a recorded statement to the insurance adjuster.
- Avoid engaging on social media platforms during the duration of your claim.
- Diligently assess all current and prospective losses before submitting your demand.
- Highlight robust, objective evidence such as medical records, police reports, and documentation of wage loss.
- Present a reasonable counteroffer if the initial offer from the insurer falls short.
- Demonstrate readiness to pursue legal action and proceed to trial if the company fails to offer a fair resolution.
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Don’t know how do car accident settlements work? Above all else, your best option for getting the money you deserve is to seek the services of an experienced Memphis car accident attorney. Your lawyer can effectively fight for your rights in dealings with the insurance company. They possess the knowledge and skill necessary to assess the value of your claim accurately, compile compelling evidence to bolster your case, manage all interactions and discussions with involved parties, and steadfastly advocate for the optimal resolution of your situation.
If you’ve been involved in a crash in Memphis and are injured, don’t try to handle the legal aftermath alone. Turn to the dedicated team at Gatti, Keltner, Bienvenu & Montesi, PLC for support. We recognize the overwhelming nature of this situation and dedicate ourselves to simplifying the settlement process for you.
Contact us online or call us today at (901) 526-2126 to arrange a complimentary, no-obligation free consultation with a Memphis car accident lawyer. If we don’t get money for you, you’ll owe our experienced attorneys nothing if you don’t accept a settlement. Let our personal injury attorneys manage the intricacies of your case. Ultimately, you can prioritize your recovery with peace of mind.