Automobile Insurance Settlement

Automobile insurance settlement is the way that the vast majority of insurance claims end up. However, when it comes to an auto insurance settlement, there are a couple of things you should know and pay attention to. By understanding how to make sure you get the fairest settlement possible for yourself and having knowledge of the process of receiving the final amount, you can make sure that the automobile insurance company, whether it is yours or the automobile insurance of someone else, treats you right.

Get the Right Amount in the Settlement

If you are in an automobile accident, and if it is not due to your own negligence, you may be entitled to an automobile insurance settlement from the party you were involved in the automobile accident with. This starts with a claim against his or her insurance company. The process of getting damage to your car taken care of is usually pretty simple. However, if you have personal injuries, you need to make sure that the settlement you end up with is the right one.

In most places, you have time to get the settlement from the automobile insurance company. That means you are able to take your time and get it right. A good payment will take into account not only the injuries you currently have that are immediate, but also any future health problems that may be related to the accident.

Many people end up with an inadequate auto insurance settlement because they are too quick to take the first offer the automobile insurance company puts on the table. Instead, take your time. Make sure you are examined by a doctor to see what your injuries are, what future problems could come from them, and find out how much it may end up costing you.

Next, it may be in your best interest to get a lawyer involved. While a lawyer will take a percentage of your final amount, he or she will have experience working with the companies while reviewing auto insurance articles and can help you get the best possible settlement for your injuries. The best move would be to find someone with experience in finding settlements for those who are injured in accidents and have worked with the companies providing coverage in the past.

Finishing the Process

During the process of getting a payment, whether you have a lawyer or not, there is a whole lot of back and forth between the company and you or your representative. The final decision, though, of the amount is yours. If there is no offer that will work, it is always possible you could end up in court where a judge will help decide what you are entitled to. Staying out of that situation, though, is generally best for both you and the company, so that is why negotiations happen around a final payment.

Part of the policy for these companies is to make sure they protect their insured client. That is what the rates he or she pays are partially covering. That is why, once you have decided on a settlement amount, the company will likely ask you to sign a waiver. This waiver, called a Release and Waiver, basically says that you cannot come back and ask for more money from either the automobile owner or insurer of the automobile. It finalizes the auto insurance settlement you have agreed on as the end of the incident.

The signing of the Release and Waiver is the time when having a lawyer really works for you. Having someone with a legal background to look over the paper can be invaluable. Since it is a legal document, once you have signed it you will not be able to negotiate or question anything about it and you will be tied to it. Having legal council look over it will ensure that you are getting not only a fair vehicle insurance settlement, but also that you are going to get the money promptly so that it can go toward your medical needs related to the accident.

As you can see, there is a lot to making sure you get the best and fairest automobile insurance settlement. You have to compare what your doctor says, what a lawyer says, and what you think and agree on the right amount for your car insurance settlement. Then, you have to make sure that the agreement that binds you to that automobile insurance settlement is fair. It is hard to believe that so much goes into getting fairly compensated for injuries from an automobile, but that is what it takes. So make sure the quotes you get are fair, the doctor and the lawyer have automobile injury experience, and that you feel good about whatever automobile injury payment you end up with. You will be glad you did.


Enter Zip Code

Get the Lowest

Quote in 3 Minutes

McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams