Car Accident Insurance Settlement Information
An insurance company may pay a settlement to a victim of a car accident. There are two types of claims filed; personal injury and vehicle damage.
A full investigation of the claim must take place before a settlement payout.
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Car Accident Claims
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After an accident, a claim is filed with the insurance company. An engineer will assess the damage of the car; if it is salvageable the insurance company will pay for the repairs.
If the car is a write-off, the settlement will be based on the current value of the car.
Out-of-Court Settlement
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If an individual is injured, the claimant will put in a claim with the at-fault driver's insurance company. The claim is evaluated and a decision made as to whether to offer a settlement to the claimant.
If a settlement is offered, the individual can either accept or decline.
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Court Setttlement
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If the claimant rejects the settlement, they are entitled to go to court and have a jury decide how much money they are entitled to as a result of the claim.
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References
- Photo Credit Police officer at the scene of the Jeep and car road accident. image by Dragan Trifunovic from Fotolia.com
