Apart from the mental and physical trauma that one has to go through when met with a car accident, they are also prone to major financial losses because hospital and damage bills begin piling up in addition to income losses. It is noted that many victims under peer financial pressure don’t know what needs to be done, and hence it is important to know how to claim compensation when met with an accident in Fort Worth. Located in Northern Texas, the city of Fort Worth is a highly populated area. Vehicles are the fundamental way of transportation here. Hence, accidents like collisions and drunk driving happen in the city frequently.
What’s the first step?
The first thing one needs to do while filing for compensation is to file a Fort Worth accident report. After any reported accident, the officer on the spot offers a receipt with an identification number to help them get their report from the local law enforcement office that holds the case draft. However, if one fails to remember the identification number, the report can be obtained by stating the accident’s date, time, location, and name.
The report must be submitted to the insurer so that they can start their own investigation. Because the report carries vast information that helps lead the investigation.
The Calculation of car accident settlement
In order to know about the compensation settlement for car accidents in Fort Worth, one must be aware of how the settlement is calculated. Insurance firms analyze statistical data to determine the average payout for each auto accident. If the victim and the insurance provider cannot agree, the victim may file a personal injury lawsuit. In this situation, the jury must render a judgment detailing the specific losses sustained.
Insurance adjusters, attorneys, and lawyers look at three categories of losses when calculating the overall damages resulting from an automobile accident in Fort Worth. They are:
Economic
Damages include medical and hospital bills (after insurance and government payments have been paid), repairs to damaged property, lost wages, etc. The court will also consider the cost of any supplementary treatments or procedures, including surgery, medical care, physical therapy, and medications.
Non-economic
Calculating them is difficult since they are inconsequential. The settlement sum is determined by the degree of damage, the extent to which it has disrupted your life, and the length of time it has persisted.
Punitive
Exemplary damages are awarded as punishment to the at-fault motorist in order to discourage future acts of negligence or recklessness. For example, the defendant failed to have their vehicle’s brakes repaired on purpose or by intoxication.
Getting through all of these might add to the victim’s current stress; hence, it is best to have a lawyer that can take care of any noticeable changes that need to be taken care of.
How it all works
The insurance company is bound to respond to a filed claim within 15 days after receiving the claim, acknowledge it, and start an investigation to determine whether it accepts the claim. However, in a few cases, the time might be extended up to 45 days, provided they have reasonable justification for the delay. Once the claim is accepted, the settlement is done within the next 15 business days.
Most accident claims take several months as well if under the influence of lawyers in a try to get the best possibility. Other factors that may cause delay include the severity of injuries, complexity of accident investigation, and involvement of multiple vehicles. A Fort Worth accident report will include the date, time, venue of the incidents, victims’ injuries, vehicle and weather conditions, along with the eyewitnesses.
A car accident lawyer can help get you through all these and get you a settlement at the earliest. However, without one, accepting a settlement deal too quickly may result in a significantly smaller amount for the client.