Once you have acquired medical care after an accident, the first thing to do is file a report with the police with details of the accident and then file an accident claim. Such car accident injury claims will help you pay for the medical bills and other types of damages.
There is also the income you lost out on due to the accident, now and in the future. It would help you to assess when it is appropriate to seek car accident injury claims by knowing the following information:
First vs. Third Party Claims
Insurance claims resulting from car accidents are basically of two types viz- first-party and third-party claims. The first-party claim is the one a person makes from their own insurance company. In contrast, third party claims refer to the claims made to the companies insuring other businesses or persons.
If you are the holder of car insurance, there probably is some third-party coverage. The policies provide financial support to persons who get injured due to the actions of the holder.
Several factors eventually decide on the claim type made when a person meets with an accident. These are:
- The responsible party
- The accident type
- The insurance coverage
Remember, insurance claims cover both physical damages besides damaging property.
The Process Involved
Typically, you need to report any accident involving an automobile to the insurance company concerned within 24 hours. It is wise to consult an insurance attorney if you are involved in an accident, click here to get in touch with a suitable team.
In accidents where you believe you are not the party responsible for the accident, report them to the insurance company that represents the responsible party. You would need to provide some necessary information, like what caused the accident and how grave your injuries are.
Once you report an incident, the insurance firm will then investigate the claim. You may need to provide crucial information like:
- Accident scene pictures
- Witness names
- Detailed incident report
- Medical report as per the examination of a doctor chosen by the insurance firm
- If there was any property damage, you might need to get the property inspected properly
Once the insurance firm assesses the claim value, then the process will move forward to a settlement check. Suppose you have doubts regarding the insurance company’s decision like insufficient settlement amounts or outright denial of the claim.
In that case, a further appeal to the company is in order. Such appeals are likely to require additional examinations along with more in-depth accident information and evidence.
Appeals Against Claim Denials
A large number of reasons might lead to the insurance company denying your claim outright. Such reasons might include waiting too long for filing claims after an accident has occurred. Another common cause is the failure to appear for an independent medical examination or incomplete property damage assessments. Additionally, there are instances where the policy does not cover a particular type of accident.
Irrespective of the reason behind the denial, you are sure to be notified of the decision. Then you might consider appealing against the rejection. This appeals process usually varies from one insurance company to another, so the policy guide would be a valuable tool that might help you. In case there are any doubts in your mind about anything, consult an insurance attorney.
Assessing Claim Value
Medical bills and wages that you lose out on due to an accident are some of the more tangible aspects of your misfortune. The pain and suffering caused by the same and assessing it in financial terms is a different ball game altogether. Insurance firms usually rely on particular formulas they have in place to determine the compensation of an accident’s non-financial repercussions.
The steps observed by such formulas are something like:
- Adding up all of the medical expenditure
- In the case of non-severe injuries, the damages are calculated by multiplying the previous figure by 1.5 or 2.
- When there is significant or debilitating damage, the analyst multiplies the medical bills by figures ranging from 5-10
- After determining the special damages, the lost wages are added to the sum.
You are always free to pursue a negotiation process with the insurance firm. Remember there is a separate formula to assess damage to property in an accident. It is recommended to follow negotiations to get the highest compensation possible.
You must observe several things after undergoing a car accident. Following the formalities mentioned in this article will help you ensure that your compensation claim is not denied. You also get an idea of the sum you can expect.
It would be helpful for you to keep on negotiating before both parties reach a settlement amount. In case there are any doubts, or if you believe that you should receive significantly higher financial compensation, it is best to reach out to insurance attorneys.