A settlement is a contract between parties to settle the matter for a predetermined sum of money. The parties then end the lawsuit and resume their lives.
No one wants to waste time fighting an auto accident claim or trying to win in court. Most disputes are settled without the need to hire an attorney. Settlement is an informal settlement of the case to reach a mutually acceptable solution. It allows the parties to end the ongoing dispute.
Settlement conferences are not required throughout Georgia. If you’re overwhelmed by the unexpected bills resulting from your car accident. A Athens car accident lawyer will assist you in obtaining compensation for your personal and financial loss.
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Georgia has a standard vehicle accident compensation policy, which we’ll go over in more depth.
What is the typical settlement for car accidents in Georgia?
This is a challenging problem because the damage each scenario causes differs.
To reach an agreement, parties along with their lawyers will take into account the following elements.
The limits of the policy are not a limitation on the obligation of insurance companies.
- Maintenance of vehicles
- Medical expenses for the future and past
- Agony and suffering
- Loss of earnings due to time away from work
- Rehabilitation expenses
- Disabilities
- Scarring and disfigurement
What is the process of an agreement for car accident settlements?
It can be difficult to reach a settlement following an accident. Follow these steps to get better settlements.
Contact with lawyer
First, you must contact a car accident attorney about your case. Then, you should contact a car accident attorney to discuss your situation.
Insurance and claim
Your lawyer promptly informed all potential insurance companies and people that you had a personal injury claim. To determine how much insurance funds are needed to settle your claim, they begin to collect all information about insurance, including coverage amount. This is an essential process. Only attorneys know how to stack many policies to make it easier to access insurance funds. They also search for medical payment insurance that will aid in the payment of the medical care you require.
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Evaluation
After you have appointed an attorney, the firm begins collecting all the evidence that is relevant to your particular case. These might include:
- A copy of the accident report and other police papers
- Photos of the damage to cars
- Medical bills and medical documents
- Begin with recording your wages lost.
Medical Attention
They will keep an eye on your medical care and injuries. They will monitor your progress each week. They will also track your progress from week to week. Don’t worry about not having insurance or having difficulty paying for your medical expenses. Your attorney will consult with doctors regarding your treatment.
Preparation of the Settlement Packet
Once you have completed medical treatment or have reached the point where the physicians can no longer assist you, your lawyer will begin putting together your compensation package, which they will then use to negotiate with insurance companies. They contact each physician or any other person to verify every bill or amount outstanding. Next, send a detailed settlement letter that outlines your claim along with supporting documents to the adjuster. After they have verified all the numbers, the adjuster will deliver the settlement document.
Negotiations
In most cases, insurance adjusters will review your settlement offer and offer their initial offer within 20-30 days. Once they have made their initial offer, negotiations can move swiftly. The firm normally receives the most competitive rate from the insurance provider rapidly. Your lawyer will call you after every request to discuss the issue and make an offer to counter. Every counter-offer must be approved by you.
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Lawsuit vs. Settlement
After your attorney is offered the best price from the insurance provider, you’ll be provided with the settlement proposal. These documents will explain the best offer from the adjuster, and breakdown the settlement into the manner in which you will receive it. If you decide to accept the offer then you have to sign and return a release. The adjuster then mails out the cheque and your attorney will deposit in your trust account, and then allow it to be cleared.
Anyone who has treated you or any government institution or private company that is eligible for reimbursement once it has cleared the way, has to be compensated. Naturally, your lawyer will negotiate with them all to decrease the amount you pay them. Let’s say you decline the best deal from an insurance company. The whole legal process can last for a full year.