How does a car accident settlement work in Indiana? Settlements are agreements between a driver and an insurance company, promising compensation for the driver’s financial losses after a motor vehicle collision.
These arrangements promise the injured driver a set amount of compensation and resolve the accident claim. You can learn more about how settlements work with an Indianapolis car accident lawyer from our team at Vaughan & Vaughan.
Call or fill out our online contact form to learn more.
What Is a Car Accident Settlement?
Car accident settlements are agreements between someone injured in an accident and an insurance company. These legally binding agreements contain information about how much compensation the insurance company has to provide and other information.
For example, the settlement may include information about a payment schedule. Generally, settlements also include a section that absolves the insurance company of further financial responsibility to the injured driver.
These deals allow individuals hurt in motor vehicle accidents to secure compensation without having to file a personal injury lawsuit.
How Do You Get a Car Accident Settlement?
Car accident settlements force insurance companies to pay out compensation after a motor vehicle collision. You can hire a personal injury lawyer in Indianapolis to negotiate a settlement on your behalf.
In many cases, insurance companies send out settlement offers quickly after a collision. However, these initial offers generally fail to cover all of a driver’s losses. You do not have to take this first offer.
Instead, generally, drivers hire a car accident lawyer to take care of negotiating a fair agreement with the insurance company.
What’s the Process for Settling After a Car Accident?
We can walk you through the steps of getting a car accident settlement after a collision. Generally, a law firm will:
Review the Initial Settlement Offer
Your lawyer can look over the initial offer made by the insurance company after an accident. Make sure you don’t sign the agreement before speaking to a lawyer. Once you accept a deal, you generally can’t ask for additional compensation.
Your lawyer will determine if the deal covers your losses and advise you on the next steps to take.
Investigate Your Accident
Lawyers generally review the facts about your accident and review all your expenses before replying to a settlement offer. Collecting evidence that demonstrates the scope of your losses will help your attorney come up with a fair settlement amount.
Counter the Initial Settlement
Your lawyer can send a counteroffer to the insurance company. Often, this step begins a process of negotiations, where both sides try to come to an agreement. Your lawyer can handle all of the legal communications involved so you can focus on your recovery.
Resolve the Settlement Process
Negotiations can allow your lawyer to bring you a settlement that fairly covers your losses. At this point, your attorney may advise you to sign the document so you can get compensation.
However, sometimes insurance companies refuse to provide you with fair damages. In this situation, your lawyer can help you file a personal injury lawsuit.
What Compensation Do You Get Through a Car Accident Settlement?
A car accident settlement can provide you with compensation to cover all of your expenses. Our team focuses on bringing clients funds for their healthcare costs, including:
- Emergency medical treatment
- In-patient hospitalization
- Medical tests and procedures
- Medications, physical therapy, and rehabilitation
We track all the expenses associated with treatment for traumatic brain injuries (TBIs), broken bones, internal injuries, and other injuries from your car accident.
You may also receive funds for your lost pay, diminished earning potential, vehicle repairs, mental pain, and emotional anguish.
How Much Compensation Will You Get if You Settle?
While you can review the average settlement for car accident claims, our team focuses on the specific losses you sustained. The funds available after a collision can vary wildly based on each driver’s expenses.
How Do You Get Money With a Settlement?
Your lawyer will explain the specific method to distribute your settlement, as agreements can vary. Sometimes, the insurance company will agree to a lump sum payment to give you all of the money in a single payment.
In other situations, you may receive a structured settlement that involves multiple payments. Our team will discuss the solution arranged for your circumstances.
How Long Does a Car Accident Settlement Take?
Your lawyer will work to complete car accident settlement negotiations quickly so you can secure damages for all of your losses. The process may take a few months, depending on the complications surrounding your accident.
We’ll keep you in the loop about your claim’s progress.
Speak to Us About Car Accident Settlements
You can learn more about how car accident settlements work in Indiana by reaching out to our team at Vaughan & Vaughan. We’ll answer all your questions and provide you with guidance through the legal process.
Call or complete our online contact form to learn more.