Thursday, June 30, 2016

Preventing Bankruptcy after a Serious Motor Vehicle Accident

High Medical Bills After a Car Accident
Many people come very close to bankruptcy after a serious auto accident. You need to know this is common due to how stifling medical bills can be after injuries have been sustained and must be treated. No one plans for a car accident and when it happens, it can be not only a complete surprise but detrimental to your personal financial security. According to the CNBC report, medical bills are the biggest cause of bankruptcy with over 2 million filing bankruptcy in 2013.

What typically happens following an auto accident is the insurance company of the responsible party will try to provide compensation that they believe you will accept, according to what they feel is appropriate. They do this because they must take care of their own customer, the policy holder, not because they have your best interests in mind.

So the question is whether you should accept the insurance company’s offer at face value, or spend some time trying to negotiate with them.

What you should do first is to contact an experienced auto accident attorney. If you have already accepted some money from the insurance company, you should still contact a lawyer if your expenses are more than the compensation you were provided after the accident. A lawyer can help rectify the situation and get you the compensation you should have received in the first place.

Being short-changed by an insurance company after an accident is nothing new. Many victims of car accidents are under-compensated every day. But a lawyer can help.

What can a car accident lawyer do to help your situation?

An knowledgeable auto accident attorney can help you by doing the following:
  • Advising you of your rights as a victim - Car accident lawyers know how insurance companies operate and, worse, how victims of car accidents frequently feel they are victimized again in the insurance claim process. They know what you can do to help your situation and how they may help you receive the financial compensation you deserve.
  • Assessing the circumstances of your accident - Your attorney will look very carefully at the circumstances of your accident to determine whether negligence played a role in your injuries or damages. Many auto accidents are caused by negligence, such as through drunk, careless or distracted driving. There may be other forms of fault involved, such as defective parts. When negligence is a cause of a car accident or others are to blame for a wreck’s occurrence, additional compensation may be owed to injured motorists or those suffering damages.
  • Out-of-court settlement negotiationSettling out of court can be achieved by your attorney through negotiation with the insurance company. Insurance companies know when their policy holder is at fault and when they are wrong in the amount previously provided to you. So they will settle out of court to avoid the risk of a judgement and the bad publicity that generates. When a settlement can be quickly reached out of court, you can return to your everyday life and better financial outcome sooner.
  • Working to gain punitive damagesYour auto accident attorney can pursue punitive damages. These are additional monies that may be granted by a judge because of gross negligence, above and beyond compensatory damages covering your medical expenses and other bills. Drunk drivers, aggressive drivers or others who were clearly negligent in causing auto accidents are often successfully sued for punitive damages.

An Auto Accident Attorney Can Provide Help for Your Finances

After a car accident, you are likely very afraid of the piling high medical expenses and other costs associated with damages, lost wages and injuries. Contacting an auto accident attorney is the right choice for recovering compensation you should have received in the first place.

Personal injury attorneys who handle auto accidents most often work on contingency. This means that you will not have to pay any legal costs up front. These costs are covered after the case is won or settled, through a prearranged fee structure reviewed with you during a free, no-obligation consultation.

During the free consultation, you can also get to know the lawyer to determine if he or she is a good fit for your needs. The attorney will advise of whether your case is viable and how work on your claim will begin. By the end of the consultation, you will likely know if you want to pursue a case with that attorney on your side.

While some people have enough savings in the bank to cover financial emergencies, most Americans do not. So do not feel ashamed that you need to gain aggressive support to ensure your rights and financial future are protected. Insurance companies are supposed to take care of their customers. Part of that obligation is to pay for claims when people are injured and suffer other damages. 

Your experienced personal injury lawyer will hold the insurance company accountable, so you are not left covering costs that you should not have had inflicted upon you, in the first place.

No comments:

Post a Comment

Please keep comments and questions relevant to this post.