You’ll most likely receive compensation from your insurance company. Insurance companies compensate people to make money, but they’ll only pay you a minimum amount of compensation.
In most cases, victims must fight to get the compensation they deserve. Most people find it difficult to fight insurance company professionals who are trained in settlement claims. This article will explain the settlement process for car accidents and how to get your dues.
The Two Types of Settlement Systems
The settlement system differs depending on the region or state. Depending on the variation, you may be able to expect either a fault-based system or a more unconventional No-Fault-based system.
* At-Fault System: The traditional insurance system is based on the at-fault system. This is the standard in most states of the US. A system of fault means that you will receive your settlement from the person who caused the accident. If you are at fault, then the other driver may also be liable.
* No-Fault settlement: If you live in an area with a system that does not assign blame, then you can receive economic compensation regardless of who was at fault. The other driver will not have to go to court, and the process is usually quick.
Tennessee is not No-Fault, and so Knoxville residents will have to fight to the death to receive their compensation. It is always difficult to get compensation from the opposing insurance company, especially when you need medical treatment.
What Should you do after an accident?
Your first priority after an accident is to stabilize your situation and get yourself out of harm’s way. Your next moral duty, if you are physically able to do so, would be checking on the other victims. At this point, you should also contact 911 to make the case official.
As soon as you can, collect as much evidence as you can. You will be grateful for any new evidence. Take photos of the damage to the vehicle and the area.
Establish a relationship with the people who live near the accident scene. These people will be invaluable eyewitnesses. Also, you should check the CCTV in the nearby establishments. You can request the footage at a later date.
Most people are unaware of the type and amount of evidence needed in a situation like this. It can be a daunting experience when you’re disoriented after an accident. Seeking professional help is therefore highly recommended. In such cases, you can find help from a Knoxville auto accident lawyer.
Assess the Damage
You are likely to be contacted by an insurance company of the party at fault in a state where you’re considered to be at fault to settle a claim with a lump-sum settlement. Avoid this type of interaction if possible because they may try to underpay you.
Consult professionals instead to determine your total loss. Prioritize the doctor, as they can provide you with a detailed estimate for your treatment and post-treatment costs, along with other expenses. To determine the cost of repairs, contact your mechanic or civil engineering to evaluate the damage done to your vehicle. If you have hired a lawyer, they can handle these tasks.
File Insurance Claim
After you’ve sorted out your numbers, you can move forward with your insurance claim. If you have a lawyer on your side, this step will be easy.
#1 Demand Letter
Your attorney will be able to evaluate both your current and future losses. You can claim compensation for medical and financial expenses, lost income, mental suffering and other expenses. Your lawyer will send an insurance demand letter to the party at fault citing these losses. At this point, the insurance company will investigate your claim.
#2 – Response
Investigations can be longer in cases of more serious accidents. The insurance company will eventually contact you to discuss your compensation claim. The insurance company will deny your claim as much as possible. Their final offer is almost always less than the amount you claimed.
#3 – Negotiation
If the compensation offered is not enough, you can begin the negotiation process. A layer can be of great help in this situation. Now, your lawyer can negotiate with the insurer to obtain a better settlement.
#4 – Mediation
Mediation is an option if your lawyer and insurance company cannot reach an agreement. Both parties will meet with a neutral mediator to try and reach an agreement. The mediator is a neutral third party who has been agreed upon by both the insurance company, and your lawyer.
The mediator will ask both sides to present their arguments and evidence, and will then try to provide a solution that is more impartial. Note that mediation is not mandatory. This step is entirely voluntary and you may move directly to court without bothering.
Litigation Process
Sometimes, an attorney and insurance company may not be able to come to a satisfactory agreement. You can then take the case to court. The authority will then step in and complicate the process. People avoid court cases because they take too long to resolve.
Your attorney will present the evidence that has been gathered to date during the court case. Both sides will exchange information at the stage of information exchange. A court trial is more beneficial to injury victims because they can get compensation for all their losses.
If you are still recovering from your injury, the court can delay proceedings. It could take weeks, months or even years, depending on the circumstances. You must still pay for your medical expenses because you will not receive compensation until the case is over.
Conclusion
Insurance companies in most states where there is fault will deny compensation claims to the maximum extent possible. They can save more money by paying you less.
It is better to have a professional trained on your side. Contact a Knoxville auto accident lawyer if you need help. Consultations are free.