Auto accident settlement amounts for injured parties with permanent disabilities can vary greatly from state to state and case to case. A number of factors can come into play to determine just how much an insurance company will agree to pay to keep a case out of court.
There are a variety of factors that can impact the final settlement offer when permanent disabilities are in the picture. They include such things as the limits on the insurance policy, the percentage of fault the injured party carries for the accident and the amount of money the insurance company has already paid out on things such as medical bills.
About Fault and Settlement Amounts
Insurance companies may take into account the injured party’s role in causing the accident when determining a fair settlement amount. Even if permanent injuries are involved, the at-fault party might see a reduction in the offer made based on how “at fault” an insurance company perceives the driver to be. This can often be negotiated, especially in no-fault insurance states.
How Policy Limits Impact Settlements
When an auto accident settlement is offered or requested, the actual limits on the policy involved can play a very big role in the numbers. If the insurance limits are $25,000, the injured party is not likely to see more than this amount, for example. This is not to say, however, that an injured party could not take other forms of legal action against an at-fault driver for permanent injuries. The insurance company will only pay out a preset amount, which is often negotiated down to less than the limits.
Expenses that may Impact Final Settlements
An auto accident settlement amount may be affected by a number of other expenses incurred by the insurance company on a client’s behalf. They include such things as:
- Ambulance fees
- Doctor’s bills
- Hospitalization costs
- Prescription costs
An auto accident settlement amount can also be reduced by the time it reaches the person’s hands due to other related expenses. The costs of hiring an attorney to represent in the proceedings, for example, will typically come out of the final settlement.
If an injured person is not at fault in a crash, auto policy limits may not necessarily dictate the final financial reward. While they will set what the insurance company pays, victims of negligent car crashes can also often sue in civil court. These suits go against the responsible party, not the insurance company per se.
When an automobile accident involves serious injuries, it is a very good idea to seek legal counsel. A licensed attorney will be able to provide guidance to help ensure that injured parties receive the compensation they are entitled to under the law.