Car accidents can be an overwhelming experience - physically, emotionally, and financially. If you're involved in a car accident in Charlotte, North Carolina, it's critical that you know how to protect your rights and secure the best possible compensation for your injuries and losses. When negotiating a settlement for your car accident case, having an […]
Who Pays For a Car Accident Settlement?
When you are involved in a car accident, you will likely be asking yourself, "Who pays for a car accident settlement?" In most cases, this will be the insurance company of the at-fault driver. In some cases, however, your insurance may have to pay for some or all of your damages. This is done by your Uninsured/Underinsured motorist coverage. Here are some tips to remember.
Uninsured Motorist
If the car and the individual who are at fault carry no insurance then your insurance will cover the damages under your Uninsured Motorist coverage. In those cases the car accident can result in a settlement offer only from your insurance. This amount is based on various factors, including the cost of medical bills, lost wages, and the repairs to your vehicle. Depending on how much insurance you carry, you should be aware that it might not be enough to cover your expenses.
Under Insured Motorist
If the car and individual who hit you have less coverage than is necessary to pay you for your damages, your Under Insured Motorist coverage can kick in for the amounts above the at fault’s insurance. In such cases you would be limited to the coverage that you pay for over and above minimum limits.
The amount of the compensation you actually receive depends on many factors, including the severity of the injuries you sustained. You should be compensated for pain and suffering, since and any lost wages. Also, if you sustained property damage, you should be compensated for that, as well. The insurance company has to set aside the proper settlement reserve.
At-fault driver's insurance company
In many cases, the at-fault driver's insurance company pays a car accident settlement. Your medical bills can quickly add up, but an experienced attorney will push the at-fault driver's insurance company to pay them on your behalf.
In addition to the costs of medical bills, car accidents also cause lost wages. If you are unable to work because of your injuries. In order to maximize your chance to be paid for these and other costs associated with car accidents you should contact a lawyer as soon as possible.
The Take Away
Uninsured motorist coverage pays for car crash settlements when the other driver does not carry bodily injury liability insurance. This coverage will reimburse you for any damages and expenses caused by the accident. Uninsured motorists may be difficult to track down, but you can still receive compensation. To qualify for UM, you must carry an insurance policy in North Carolina.
Underinsured motorist coverage is a great way to protect yourself in the event of a car accident that results in high damages. This coverage pays for damages caused by the negligent and underinsured driver and is available to any injured party who is not at fault and pays a premium to have their own underinsured motorist coverage. However, even this coverage is often not enough to cover the entire cost of an accident. To maximize your underinsured motorist coverage, contact your insurance company to discuss the details of your policy. Contact an attorney at Rosensteel Fleishman to discuss your car accident case.
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