Motor vehicle insurance is an important responsibility that Florida drivers must maintain when they own cars, trucks, and other automobiles. A motor vehicle insurance policy protects a driver from claims if they are involved in accidents and may compensate them if they are harmed in collisions. Though automobile insurance can provide victims with financial help to get back on their feet, victims of automobile accidents should understand that insurers do not always have their best interests in mind when dealing with motor vehicle accident claims.
This post will discuss some of the challenges that victims may face when dealing with their motor vehicle insurance companies. No part of this post is offered as legal advice, but all readers are encouraged to seek legal at counsel from trusted personal injury lawyers when they have questions about their claims and options for compensation.
Insurance settlements: A potential pitfall for victims
Insurance companies have an interest in resolving claims quickly and keeping their costs low. This not only means they can handle more claims but can keep their profits higher for themselves. After a motor vehicle accident, a victim may make a claim against their insurance for compensation to cover their accident-related losses. Their insurance company may offer them a settlement as a quick resolution to their claim.
A settlement is a contract. Through a settlement an insurer and their policy holder may agree to an amount of compensation for the victim in exchange for the victim agreeing to waive any other rights to seek compensation on their accident-related claims. While a settlement may provide a victim with quick money, it may not end up being enough to cover all of their accident-related costs if they suffered serious and long-term injuries. To this end, an insurer may get out of fully compensating a policy holder if they can convince them to take a settlement that is not in their best interests.
Getting full compensation after an accident
In some cases, an insurance settlement may be more than sufficient to compensate a victim for their losses. These decisions should be made on a case by said case basis. However, if a settlement is insufficient, a victim should be prepared to understand their legal rights and options to use the courts to pursue their losses.
After a serious motor vehicle accident, not all victims may feel prepared to go to court and fight for their rights. This is where they can benefit from seeking the counsel and representation of a trusted personal injury lawyer to stand with them as they seek their damages. Lawyers who work in personal injury understand the laws and processes for helping their accident victim clients pursue what is fair and right.