Negotiating a settlement for a car accident injury is usually with the other driver's auto insurance company. This settlement can be used to help the person who was injured in the accident. The settlement money can be used for current treatment the person is receiving, or for long-term treatment in some catastrophic injuries. A settlement should not be confused with damages awarded after a car accident. The damages in this case can be strictly for repairing or replacing a motor vehicle. In this case, a settlement for a car accident injury refers to an injury that was sustained as a result of an accident. In cases such as these, it is important to consult an attorney to take over your case.
Amount Of Settlement
The amount of settlement you can receive will depend on the amount of insurance that can be awarded under the insurance policy. Some insurance policies have minimums of $20,000 and upwards of $200,000. If you are in an accident with a company vehicle, then the amount the insurance policy will award can be upwards of millions. Your attorney will be able to negotiate a settlement for you, and many insurance companies will prefer this than having a lawsuit filed against them and going to court. Expect your settlement to be in relation to how bad you are personally injured. A minor injury will receive a smaller settlement amount, as compared to a more serious or long-term injury.
Statute of Limitations
The statute of limitations will be important for negotiating the settlement for your car accident injury. Each state has outlined the timeframe in which your attorney can negotiate a settlement from the other insurance company, before the time runs out and litigation must be filed. Your attorney will be able to tell you more information about this in regards to your case or in regards to the state you live in. For example, the statute of limitation in New York for a personal injury due to a car accident is three years. Therefore, after the three years is up, you risk having the timeframe for hearing your injury claim run out.
Knowing Your Rights
This is one reason why it is important for anyone who has been in a car accident and had his or her car damaged, and sustained personal injuries to know their rights. If you have had injuries, you should not be bullied into signing anything, and do have the right to be compensated to pay for your car and medical bills. However, contacting an attorney quickly, as there will be time needed for your attorney to negotiate a settlement on your behalf.
