You get in an accident and exchange insurance information with the other party. As most people do, both you and the other party file claims with your insurance companies to get the funds you need to get your vehicle back on the road. If there were injuries involved, then you would want to get money to pay your medical bills. A day or two after the accident, the other party’s insurance company calls about the accident and your claim. What do you do?
What Are Your Real Losses?
Insurance companies call so quickly because they want you to agree to a settlement that is well below the compensation you need and deserve. Your compensation should include any lost income from time lost at work, money to repair your vehicle, money for your emergency medical expenses, and money for long-term medical expenses.
It is impossible for you to have put together a comprehensive outline of your expenses only a day or two, or even a week, after your accident. The first step when it comes to handling the other party’s insurance company after an accident is to tell the company you will need to time to put together numbers that represent your real losses.
While the insurance company is not obligated to use a police report to determine liability in an accident, it should be part of the equation. If the insurance company decides that you were 60 percent responsible for what happened, then you would only get 40 percent of your settlement. You should not accept a liability number that you feel is not accurate, especially if the official police report contradicts what the insurance company is saying.
Once again, the insurance company is going to work fast to try and get you to commit to a settlement that you might not understand. Listen closely to what the insurance company is saying and do not sign a document that you feel unfairly represents your part of the accident.
Use An Attorney
The other party’s insurance company is going to try to take steps that work against you when contacting you after a car accident. In many cases, the accident is the first for both parties and neither party is really sure what to do or what to say. Many people immediately accept the settlement from the insurance company because they feel like it is the right thing to do.
The insurance company does not have your best interests in mind. The company is trying to preserve its profits, while you are trying to get the compensation you need to get your life back on track. Instead of trying to handle the insurance company on your own, you should hire an experienced attorney to talk to the insurance company and get the results you deserve.
It can often take weeks to accurately determine the damage done by a car accident. Between car repairs and long-term medical care, the costs can start to add up. The insurance company is going to try and force you to do what it wants you to do, which is sign a quick settlement. The best approach is to hire an experienced attorney and let the attorney talk to the insurance company as soon as possible.