How Does a Car Accident Settlement Work?

In Georgia, a car accident settlement works by initiating negotiations between the injured party, their legal representative, and the insurance company. The goal is to unanimously agree on a fair compensation value that covers the extent of the victim’s damages. 

These may include—but are not limited to—medical expenses, lost wages, or pain and suffering. For more information about how car accident settlements work, contact an Atlanta personal injury lawyer for legal advice and advocacy. 

How Does the Car Accident Settlement Process Work?

The car accident settlement process involves many different steps. Unfortunately, there are 10 tactics insurance companies use to deny and devalue car accident claims. You can protect yourself from these practices by hiring an attorney to represent you.

In the meantime, let’s take a look at the car accident settlement process. It can give you a better idea of what you can expect as you pursue financial compensation in your case. 

Filing a Personal Injury Claim

According to Georgia state laws, these are examples of the types of damages you might be able to claim as the victim of a personal injury case:

• Medical expenses
• Vehicle repair costs
• Lost wages from missed work time
• Loss of earning capacity
• Disability benefits
• Pain and suffering
• Mental anguish
• Loss of enjoyment of life

Although the at-fault driver is responsible for the crash, their insurance provider is typically the one who will pay for your damages. As such, you will need to file your personal injury claim with their insurance company. 

Let the insurer know that you are filing a claim as soon as possible. The statute of limitations in Georgia is two years from the date of the accident, so you only have 24 months to pursue compensation via a personal injury claim. 

Investigating the Accident

When you file your claim, the at-fault driver’s insurance company will begin investigating the accident. Be very wary of how they do this—insurance companies are known for pushing boundaries and misleading personal injury victims while investigating a claim. 

As a business, insurance companies do not want to pay out more than they have to, and they might ignore your rights in the process of extending low settlement offers. That’s why you should never speak with insurance companies, especially if your lawyer is not present.

Leave the negotiating up to your legal counsel. Otherwise, if you give statements to the insurer or sign anything prior to talking to a lawyer, you could give them information that they can use against you later. Here’s what your attorney’s investigation process may entail:

• Taking pictures of the accident scene and your injuries
• Keeping track of all expenses
• Getting a copy of the police report
• Seeing a doctor for all of your injuries
• Getting the names of witnesses

Approving or Denying Your Claim

When the insurance company has finished investigating your claim, you will either receive an approval or a denial of your claim. If the insurer denies your claim, their policy might not cover your accident. Alternatively, it could also mean that there were errors in your claim. 

Either way, you should receive an explanation detailing why your claim was denied. Your lawyer can further explain what the denial or approval of your claim means for your case. 

Seeking a Fair Settlement

If the insurance company accepts your claim, they will likely send you a settlement offer that is far less than you deserve. The good news is that you are not obligated to accept it. In fact, it’s your legal right to negotiate for a fair settlement based on the costs of your injuries.

Insurance adjusters know personal injury law very well, and their job is to convince you to agree to the lowest offer possible. Meanwhile, if you don’t have legal knowledge on your side, it can be hard to fight for your right to full compensation. That’s where a lawyer comes into play. 

What if the Insurance Company Won’t Agree To a Fair Settlement?

Sometimes, the insurer will not budge on their settlement offer—even after negotiating with your lawyer. While this doesn’t happen incredibly often, there are options if and when insurance companies refuse to work with you. 

Mediation Meeting

If insurers are not cooperating or compromising, the next step is to request mediation. In a situation like this, you will meet with representatives from the insurance company, and a mediator will be present. 

As an unbiased third party, the mediator will listen to both sides of the case and try to help the two parties reach an agreement. Your lawyer should attend this meeting with you, and if the mediation is successful, you will finalize a settlement amount. 

Filing a Lawsuit

If you and the insurance company cannot agree to a fair settlement even after mediation, your lawyer may recommend that you file a lawsuit. This is a huge decision, as lawsuits can be costly and lengthy. However, there are times when it’s necessary.

How Do I Collect My Car Accident Settlement?

Collecting your car accident settlement depends on the details of your situation. In the majority of personal injury cases, the insurance company will write a check for the settlement amount when you sign the release of liability form. 

The payment will likely be made out to your personal injury lawyer. From there, your legal counsel will likely take a percentage of the total balance as their fee, and you will receive the bulk remainder of the settlement check. 

Now, the process may differ in instances where your case went to trial, and the at-fault driver was ordered to pay you directly for the damages they caused. Ultimately, it’s wise to hire a personal injury attorney who can look at your case and advise you on how to proceed. 

Speak With an Atlanta Car Accident Law Firm For More Information Today

Did you know that insurance companies will often try to convince you to accept a much lower settlement than you deserve? Insurers operate a business, after all, so it’s no wonder they want to minimize the amount of money they owe you. 

However, at John Foy & Associates, we believe that victims like you should receive a fair compensation offer that covers the full extent of your damages. While we can’t guarantee that we’ll secure a specific amount for you, we can promise to fight for you every step of the way. 

Call us today to set up a no–obligation consultation at no cost to you. When you meet with us, we’ll tell you more about our firm and how we can help you pursue a car accident settlement. With The Strong Arm, you can rest assured that someone is on your side.