One day you’re on the road driving, and all of a sudden crash an accident happens. Following a car wreck you’ll need to learn how to negotiate a claims settlement with the at fault parties insurance company adjustor over bodily injury or property damage.
If you’re injured, someone like a family member or close friend can be of help to advise you on how to handle things. Sometimes, especially after a serious car accident none of us are thinking straight.
Learning the current market value of your vehicle can be found on the Internet on the Kelley Blue Book website. Input the make, model, year and fill out the form to find a price to sell it to a private party or suggested retail value. It’ll all be part of what you need to know to protect your financial interests.
Bodily injury damages cover hospital bills, medical expenses, the trip to the emergency room, other ongoing medical treatment and lost wages. Settling a claim for bodily injury can be one of the most painful or one of the better experiences of your life. Insurance companies are in business, and they are in business to make a profit. But industry surveys show that most companies, not all, but most try to be fair when it comes to settling insurance claims.
If you are found at fault of the accident you should be covered mostly at least by the Personal Injury Protection (PIP) you purchase as part of your auto coverage for medical expenses. If the other driver is at fault there’s actually more room to usually negotiate under bodily injury coverage.
Most insurance carriers will offer to pay basic medical expenses related to the accident for the at fault party, and the other driver. In no fault states carriers usually write the check for bodily injury and other damages separately. But in the case of catastrophic injuries insurance issues get more complicated since coverage limits are often exceeded.
Insurance experts recommend getting a copy of your medical records since the carriers will negotiate with you based on the extent of your injuries. Get all the reports of your injuries in writing to help in case the case becomes a court battle. Minor injuries usually lead to a small settlement, but if injuries are severe the settlement usually reflects them.
Settling with an insurance company instead of going through a long court battle is usually preferable. These days many insurance policies include a mediation clause so if there’s some disagreement with the settlement offered, the insured has already agreed to mediation in case of a claim instead of a court fight.
Insurance industry insiders say to not feel obligated to accept the first offer to settle a claim quickly to get it off the adjustor’s books, but to carefully study the settlement and consider legal counsel if you are unfortunate enough to be forced to make an insurance claim over an accident in the first place.
If you’re injured, someone like a family member or close friend can be of help to advise you on how to handle things. Sometimes, especially after a serious car accident none of us are thinking straight.
Learning the current market value of your vehicle can be found on the Internet on the Kelley Blue Book website. Input the make, model, year and fill out the form to find a price to sell it to a private party or suggested retail value. It’ll all be part of what you need to know to protect your financial interests.
Bodily injury damages cover hospital bills, medical expenses, the trip to the emergency room, other ongoing medical treatment and lost wages. Settling a claim for bodily injury can be one of the most painful or one of the better experiences of your life. Insurance companies are in business, and they are in business to make a profit. But industry surveys show that most companies, not all, but most try to be fair when it comes to settling insurance claims.
If you are found at fault of the accident you should be covered mostly at least by the Personal Injury Protection (PIP) you purchase as part of your auto coverage for medical expenses. If the other driver is at fault there’s actually more room to usually negotiate under bodily injury coverage.
Most insurance carriers will offer to pay basic medical expenses related to the accident for the at fault party, and the other driver. In no fault states carriers usually write the check for bodily injury and other damages separately. But in the case of catastrophic injuries insurance issues get more complicated since coverage limits are often exceeded.
Insurance experts recommend getting a copy of your medical records since the carriers will negotiate with you based on the extent of your injuries. Get all the reports of your injuries in writing to help in case the case becomes a court battle. Minor injuries usually lead to a small settlement, but if injuries are severe the settlement usually reflects them.
Settling with an insurance company instead of going through a long court battle is usually preferable. These days many insurance policies include a mediation clause so if there’s some disagreement with the settlement offered, the insured has already agreed to mediation in case of a claim instead of a court fight.
Insurance industry insiders say to not feel obligated to accept the first offer to settle a claim quickly to get it off the adjustor’s books, but to carefully study the settlement and consider legal counsel if you are unfortunate enough to be forced to make an insurance claim over an accident in the first place.
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