No one ever wants to deal with an insurance company. No one ever wants to be in an accident. The fact of the matter is that accidents do happen. Subsequently, it is likely that you will have to work with an insurance company to help get compensated for your losses and harm suffered. If you have been injured in a car accident, you will likely want to file an accident claim with your insurer as well as the insurer for the at-fault party. Here, we’ll talk more about filing an insurance claim after being in an accident.
Filing an Insurance Claim After an Accident
After an accident, filing an insurance claim is your first step towards receiving compensation for losses you have incurred as a result of your accident injuries. This may include things like medical expenses and lost wages. There are two types of insurance claims that you may file after an accident: a first party claim and a third party claim. A first party claim is a claim you file with your own insurance carrier. A third party claim is one you file with the insurance carrier of someone else’s carrier, such as the at-fault party in the accident. What kind of claim you file after an accident will, thus, largely depend on who was at fault for the accident. It will also, however, depend on the available insurance coverage.
It can be important to file your insurance claims as soon as possible following an accident. You may also have a contractual obligation to inform your own insurance company that you were involved in an accident within a certain period of time. Contacting your insurance carrier promptly after an accident can help avoid your claim being subsequently denied because you failed to notify the insurance provider in a timely manner.
When you file a claim or report the accident to your insurance company or a third party company, you will likely be asked for details about the accident. This will usually include basic questions about where and when the accident occurred as well as what happened and the nature of any injuries you may have sustained in the accident. Subsequently, the insurance company will begin its investigation of your claim.
The claim investigation will not only involve looking into who was at fault for the accident, but it will also involve calculating a projected value of your claim. This will be determined by the amount of damages you have already sustained as well as a projection of future losses you are likely to sustain as well, such as loss of future earning capacity and cost of future medical care. If the insurance company offers a mutually agreeable settlement offer, you may accept it and a settlement check will be issued. Oftentimes, however, an insurance company will offer a settlement amount that fails to properly compensate an accident victim, and settlement negotiations ensue. If the company continues to refuse to make an agreeable settlement offer, you may wish to file a lawsuit.
Philadelphia Personal Injury Attorneys
Injured in an accident? The team at Cooper, Schall & Levy is here to fight for you. Contact us today.