How Do Car Accident Settlements Work?

If you have been injured in a car accident, you likely need compensation to cover your medical expenses, lost wages, and more. It may not be an option to walk away from the crash without pursuing compensation, particularly if you are off work for months or left disabled. To pursue a financial recovery, you will want to look into an insurance settlement. Most car accident claims are settled by an insurance company. However, this can be a lengthy and difficult process.

Our experienced Wisconsin personal injury attorneys from Studinski Law, LLC can help you seek a settlement that covers your physical, emotional, and financial injuries. Call us today at (715) 343-2850 to find out how we can help.

The Car Accident Settlement Process

If you want to obtain a settlement after a car accident, consider the process:

• Filing a formal claim
  After a car accident, you should file a claim with the at-fault driver’s insurance policy. Since you are making a claim against another person’s insurance policy and not your own, this is known as a third-party insurance claim. Many auto insurers offer an online claims process. If you are in any way confused about the insurance claim process, contact an experienced car accident attorney as soon as possible. You should notify an insurer about a potential claim and file the formal claim quickly after a crash, so do not hesitate to reach out to a lawyer with questions. We also urge you to consider filing claims with your own insurer for a variety of potential benefits, including, medical payments benefits, potentially underinsured motorist coverage, and additional coverage.
• Going through the insurer’s investigation
  Once you make a formal claim, the insurer will conduct an investigation of the accident. This may include reviewing the police report, speaking with their experts, taking your statement, and reviewing medical records regarding your injuries from the crash. The insurer may overstep their bounds or violate your rights. For instance, an insurer may ask you to sign a medical records authorization, which would give it access to your entire medical history. This can damage your case. It can be helpful to have a Wisconsin car accident lawyer guide you through this process and protect you.
• Conducting an independent investigation
  An insurer’s investigation may be thorough. However, it is conducted with the point of view of protecting itself and its client. You should not rely on the insurer’s investigation and findings. Instead, you should conduct your own investigation into the cause of the car accident and who is liable. This includes obtaining your own copy of the police report and other relevant records, obtaining and reviewing photos and video footage of the accident, hiring your own expert witnesses, and more.
• Receiving a claim coverage approval or denial
  After the insurer completes its investigation, it will either approve or deny coverage for your claim. When the insurer approves your claim, it is agreeing that the at-fault driver’s conduct is covered by the policy. It is not necessarily agreeing the compensate you fairly and reasonably for your injuries. If it denies your claim, it is likely claiming that the conduct or outcome is not covered by the policy or your claim is denied for technical reasons. The insurer should provide you with a written explanation of the denial.
• Claim coverage denial
  If your insurance claim was denied, it is time to contact an auto accident lawyer.
• Receiving a settlement offer
  If your insurance claim is approved, you will receive an initial settlement offer. A first offer is often low, and you are not required to accept it. You have every right to deny the offer and ask for a higher amount based on your injuries and expenses.
• Negotiating a settlement
  Negotiating a settlement with an experienced insurance company can be difficult and intimidating. You will be up against adjusters and attorneys who are well-versed in insurance and personal injury law, and they may use intimidation tactics. Remember that the insurer’s employees want to save their company money, not necessarily help you.
• Going through mediation
  If you are having trouble negotiating a fair settlement amount with an insurer, you or the insurer may request mediation. During mediation you and the insurer’s representatives will meet in the presence of an objective third party – the mediator. You have every right to bring a lawyer to these meetings. You and the insurance company will discuss your claim and damages, and the mediator is there to keep the conversation on track. The mediator cannot force the insurance company to pay a reasonable sum, nor can it require you to accept an unfair settlement.
• Finalizing a settlement
  If you and the insurance company come to an agreement on a settlement amount, you can finalize the settlement. This generally requires you signing a release of liability document, thereby waiving your rights, including your right to take the insurance company or its client to court for more money. If you have already filed a personal injury lawsuit, you will be required to dismiss the case.
• Filing a lawsuit
  If an insurance company will not make a reasonable settlement offer, it may be in your best interest to file a lawsuit. An attorney can help you file suit in the appropriate jurisdiction and gather evidence to support your claim for compensation in front of a judge or jury. It can be difficult to investigate a car accident. If you or your attorney are running into obstacles, you may need to file suit during the claim process to take advantage of the discovery process.

Contact Our Steven’s Point Personal Injury Lawyers Today

When you are hurt in an auto accident caused by someone else’s carelessness, recklessness, or intentional disregard for safety, then it should not be on your shoulders to handle the financial consequences of the crash. You deserve to pursue compensation for your:

• Wage loss
• Pain and suffering
• Emotional distress and mental anguish
• Disability
• Disfigurement
• Loss of enjoyment of life
• Loss of earning capacity
• Loss of society and companionship
• Property damage

We serve clients in Wood County, Portage County, Waupaca County, Marathon County, and surrounding areas.
For answers to your questions about car accident settlements, call us at (715) 343-2850.