If you’re in a car accident caused by another person, you’ll need to know about third-party insurance claims. This claim is filed with the insurance company of the other driver – also known as the at-fault party. Your insurance company will not be involved in this claim, and all compensation for your damages and injuries will come from the other driver’s coverage.
Third-Party Insurance Claims for Property Damage
If your car or other property is damaged by another driver, you will be able to seek compensation for your repairs and replacement costs through a third party insurance claim. In most cases, the insurance carrier will not pay you directly for these expenses; they will, instead, pay the auto shop for the repairs your car requires. Sometimes, they may even cover the costs of a rental car while your vehicle is in the shop.
In the event your car is totaled by the other driver, meaning it is irreparable or the repairs would cost more than replacing the car would, then the third party insurance carrier will usually pay you what’s called ACV, or actual cash value. This is the current cash value of your car for its make, model, year, and condition. They will remit this amount to you, salvage your car, and you can use the funds toward a new vehicle.
Claims for Bodily Injury
If you’re hurt or injured in the wreck with the other driver, your, third-party insurance claim can compensate you for medical bills, treatment costs, pain and suffering, and more. To do this, the insurance carrier will likely offer you a lump-sum settlement payment. It is up to you to decide whether this is a fair and adequate amount for the injuries you suffered. If you are not happy with the settlement offers you are receiving, you are under no obligation to accept them. Simply refuse them verbally, and do not sign any sort of agreement or contract.
You may be able to take further legal action to seek additional compensation for your injuries. If you’re considering doing so, you should consult a qualified attorney before moving forward.
Texas is a contributory fault state. That means, even if the other driver did cause the accident, you may still hold a level of fault in the accident. If you were tailgating, speeding, or not following the letter of the law before the accident, it could be determined that you had a hand in causing the wreck and your subsequent injuries. If this is found to be true, it could affect the settlement offer your third party insurance claim garners you.
The at-fault party’s insurance carrier will work to prove you held fault in the accident; that way, they don’t have to pay out as much. To prevent incriminating yourself or giving the insurance carrier reason to pin blame on you, you should always refuse to give any sort of recorded statement when talking to insurance representatives. Speak to an attorney before talking to anyone about your accident, and be careful to only give the information you’re legally required to – nothing more, nothing less. If the at-fault party’s insurance carrier finds that you were even 20 percent at fault for the accident, it could result in a 20 percent reduction in your settlement offer, and, in the end, you’ll have to foot part of the bill for an accident that wasn’t your fault.
Get Legal Help for Third Party Insurance Claims
Are you preparing to file a third party insurance claim for a car wreck you were in? Ensure you get the most compensation possible by discussing your case with a personal injury attorney at the Law Offices of Pat Maloney. We’ll help you through the claims process and get you the money you deserve. Call us at (210) 934-6609 or contact us via our free online form for a free consultation.
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