After you’re hurt in a motor vehicle collision, you may have the opportunity to seek compensation from the insurance company. The insurance company will have a set policy limit that indicates what they’ll pay at a maximum.
In most cases, insurance companies will try to reduce what they pay to people who have been hurt. They may try to settle with you as soon as possible after a crash in the hopes that you will accept a lower payout.
It’s wise not to settle with the insurance company until you know the true value of your case. To determine that, you’ll have to look at how much time you spent off work and the amount of money you’ll need to spend on medical care. Other factors will come into play as well.
What happens if your claim is higher than the insurance policy limit?
The insurance company is not going to pay out more than the policy limit to you no matter how much you want to get from them. However, you can pursue a claim against the at-fault driver directly if you find yourself in that situation.
If your claim is more valuable than what insurance has to offer, you may need to take your claim to court. There, you can fight for fair compensation.
How do you prepare for a personal injury lawsuit?
To prepare for a personal injury lawsuit, you need to gather documents about the original crash and all the damages you’ve suffered as a result. For example, you may want to gather documents that show your medical expenses, out-of-pocket expenses paid for hospital or medical travel, lost wages, and others.
These documents help bolster your claim by showing true losses. You may also be entitled to pain and suffering, loss of consortium or other noneconomic damages, so you need to consider those as well.
Your attorney will help determine who you can sue for damages after a crash. You may have more than one party that you can go after for compensation, which could increase the likelihood of getting a larger payout to cover your losses.