When you want to know what you can do after being sued for car accident what can they take from you, you will most likely be required to pay up for the suffering. It will be your insurance company. The best option for the insurance company is to quickly settle the case and do so for multiple reasons that we will look further down.
The insurance company’s main motive is to settle the case as quickly as possible, and therefore, the settlement becomes their priority over going to court.
If you are the plaintiff in a case, a settlement is usually in your best interest. But you must ensure to have a lawyer by your side before signing any document or settlement offer.
Lawyers and Insurance Companies which to dodge away from the Uncertainty of the Trial
This statement is always right in the case of insurance companies; however, the plaintiff’s lawyer wishes to avoid the trails and take the case to court. Since anything can come up in the trial, both defendants and the plaintiffs often prefer to go for the settlement option to avoid such uncertainty during the case.
Even if both parties cannot settle according to their wishes, there stays a percentage of predictability in case of a settlement. The plaintiff can dodge away the chances of getting nothing as compensation and the defendant has the chance to avoid the likelihood of having to pay a massive compensation for the case. Since, in court, there stands a possibility for both results and there will be no chances of negotiations.
Plaintiffs prefer getting payment as soon as possible
In a car accident, the plaintiff always prefers to get the compensation as soon as possible to cater his medical bills and expenses. Furthermore, the worth of the compensation amount is more in the present than in the future. The longer the plaintiff must wait to resolve the case, the deeper the plaintiff’s debt might get.
Therefore, even for the plaintiff, it is preferable to settle. When an insurance company has agreed to a certain amount, they are likely to pay it as soon as possible. However, if you happen to get a decision from the court, there is no surety for the collection and the time duration.
If the numbers stated by the judge are out of the defendant’s insurance policy, the defendant will be asked for the overage. There lies no assurance the defendant can pay out the stated amount quickly. To get the compensation amount, the settlement is the best way.
Being Sued for Car Accident: Saving Money on Litigation
Litigation is costly. If a case goes on for years, the expenses add up or often multiply. You have to attend a number of dispositions and have to hire expert witnesses.
The price for litigation can easily climb up to a five-figure value prior to the trial and get twice this amount during the trial. Each of the two sides has to bear these expenses and have to look for ways to dodge many of these. Only settlement can accomplish this.
Measures to take if you still being sued in a Car Accident
We are now clear on many of the steps to take and things to be careful of. However, if you are proven guilty and the plaintiff’s wishes to sue you, then these are the following steps which you must take to know if you are being sued for car accident what can they take from your possessions:
1- First things first. Call your insurance company immediately. This applies in all car accident situations regardless if there are any damages or not. You do not wish to give them an excuse not to defend and advocate you.
2- There is a free defense facility by you. The minimum insurance policies also offer the service of a free lawyer if you being sued. So, utilize the service for the best outcomes.
3- Indemnification is available up to the limits you purchased: The people having insurance will indemnify you up to the limited policy amount. Indemnify refers to the compensation for damages or loss and to offer financial security to a person if any loss is experienced. In the situation where you have minimum limits of approximately $25,000, the insurance company will provide a lawyer to you at no cost under the ‘duty to defend,’ and you will get covered up to the stated limits. If you have a $50,000 policy and the jury awards $65,000, then $15,000 of the said amount by a jury will be entered against you after the insurance company clears out the bill for you.
4- Make sure to know what you are being sued for: If you happened to be caught in the situation so, the first step must be finding out the details of the case. The details will include the reasons of you being sued, what is the claimed injury by the victim, what are total incurred medical expenses, and the lost earnings because of the accident. Then, ask your insurance company about their stance on the case and situation. And lastly, have they made any offers or not?
5- Type out a letter to your insurance company: If you have a low payment capacity, write your company a letter. It will detail them that you are wishing and expecting them to pay the policy limits out if they have a chance to get you a release or a limited liability release. In case your insurance company rejects the payment of the policy limits to protect you after the injured person’s lawyer asks the compensation, and there is a verdict for the compensation beyond your limits. In particular circumstances, you can sue your insurance company for failing at protecting you.
Getting closure after being sued in a Car Accident
Along with the plaintiff, if you are trying to move on with your injury, damages, and wish to get on with your life, Insurance companies are willing to wrap the case; settlement is the best option for both while taking the minimum for you sued.
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