Auto Accident Insurance and Settlement Compensation
By law, every driver must have a minimal amount of car insurance, per their state’s requirements. However, not every person in an accident with car insurance will collide with another party that does. Though illegal, thousands of accidents occur annually between sufficiently insured drivers and drivers with no or insufficient insurance coverage. In turn, the car accident insurance settlement may not cover each party’s damages sufficiently. In an accident with both parties having an accident with car insurance, car accident insurance settlement would be negotiated between both insurance companies and paid out to their own policyholders. However, in cases where one party is without insurance coverage, a driver is left with limited options to retain financial compensation, save for filing suit, which most likely will result in a judgment award that the other party cannot pay.
Protecting One’s Self from Uninsured Motorists
Today, in response to these situations, insurance companies now offer consumers extra coverage in the event they are involved in an accident with an uninsured motorist. As with every case, costs of car insurance increase with accidents, however, the immediate financial loss from a driver without insurance will be avoided. This is especially helpful in cases where an uninsured or underinsured driver is at-fault causing injuries to other parties.
Getting Legal Help with Car Insurance Settlement Claims
An attorney is extremely helpful in recovering damages from outstanding car accident insurance claims. Even claims involving rental car accident insurance, which are difficult and complex, an attorney can handle for drivers. Rental car accident insurance, though beneficial, is not handled by an individual driver, but rather, an entire company. Therefore, obtaining settlement may prove difficult for one individual without legal assistance. Having an attorney look into any car accident claims case, before any settlement agreements are signed, is essential.