When you are a victim of another driver’s negligence, you should seek compensation for the damages. The compensation may be for the medical expenses in the hospital or salary if you weren’t able to work. Thus, working with a competent Austin car accident attorney/lawyer will highly likely result in a better settlement.
WHAT IS A CAR SETTLEMENT?
Also called a settlement agreement. A formal agreement stating you are dropping the charges or lawsuit in exchange for a favorable amount of money. This would cover all the expenses you’ve incurred after the car accident.
You will not be forced to accept a settlement you aren’t satisfied with. That is why an experienced car accident lawyer is needed. He can help you negotiate the best compensation.
CAR SETTLEMENT PROCESS
The first step would be to submit a claim to the driver’s insurance company. Depending on how good your lawyer is, it may be a quick process or a long stressful one. Call your Austin car accident lawyer to help you resolve the claim quickly.
The Investigation
After filing the claim, an insurance claims adjuster would do a thorough investigation of the case. Then, he will be reviewing all the evidence needed for the settlement including:
- Photos of the car accident scene such as damages to the car and visible injuries
- The official police report
- Your statement and the witnesses’ statements
- Medical records, if applicable
- Documentation of other financial expenses
- Verification of any loss of income from the car accident
- The negligent driver’s testimony
- The location of the car accident
The insurance adjuster may also consult with some professionals to help them provide insight. These may include the physician, engineer or the expert involved in investigating and analyzing car collisions.
How Insurance Companies Calculate Settlements
Some insurance companies use a special software to help them calculate car settlement values. They use this for small to medium cases only. Some adjusters only refer to them as a guide.
Typically, companies look at the medical bills incurred, pain or suffering involved. Moreover, if there is a loss of income that resulted from the car accident.
Insurance companies may also resort to adding a “per diem” or per day, per week or per month value amount.
Nevertheless, it’s still best to contact an Austin car accident attorney to better negotiate car settlements for your car accident.
Receiving an Offer
After claim approval, you will get an initial settlement offer from the insurance company. But, this will most likely an unfavorable amount. This is where your Austin car accident lawyer would come in.
Negotiating the Settlement
Negotiating with insurance companies who have been in business for the longest time may be difficult. You’ll be against attorneys who are highly knowledgeable about how everything works. Henceforth, you will need a good attorney to negotiate with insurance companies and achieve a favorable amount for the settlement.
When you’re able to work everything out with the insurance company, you’ll be receiving your settlement amount via a check. Otherwise, you can pursue a lawsuit if you don’t favor the car settlement. Of course, you can certainly avoid this when you contact a personal injury lawyer in Austin. With how experienced and competent they are, you sure will be compensated fairly well.
