Collecting Your Insurance Settlement or Court Judgment
Posted on Jun 23, 2014 3:26pm PDT
If you agree to a settlement amount with insurance, or if you are awarded a certain amount from a jury, you still have at least one step more. Whatever stage you currently are in for your injury claim, if it is successful, you can look ahead to the process where you can collect your compensation. Here is what you can anticipate.
Was the other driver insured?
If this is the case, then if you can settle with the other driver's insurance company, you need to get this agreement in writing. You can handle this yourself with a letter to the insurer. Then you or your lawyer should get a release, which says the insurer will pay you a certain amount. When you return the release with your signature, you should then get your check. If an attorney was involved, then the check will be in both your names. The attorney deposits the check and then writes you another check, which will be your portion of the settlement after legal costs have been deducted. If you still have medical bills you need to pay, you can use this settlement to handle that outstanding debt, but ideally you and your attorney can negotiate those bills down first.
If you went to trial with an insured driver and won, then the driver's insurance company will have to pay you the amount the jury decides, unless the company appeals.
Was the other driver uninsured?
If you made a settlement with the other driver, you need to get this informal agreement down in writing and with your signatures. Or you may want to go to small claims court, or file a lawsuit, taking them to trial, going after personal assets instead of an insurer's. Going through any court is a tricky process however, and end up costing you more than your claim is worth. You may be able to settle with your insurance company through an underinsured or uninsured motorist policy.
To get to any of these points in your case, a car accident lawyer can be absolutely invaluable. For the legal expertise you may need for just compensation, do not hesitate to find the advocate you deserve today!