Many complicated factors go into the decision of whether or not to settle a Chattanooga car accident case, and the process can seem stressful when faced alone. Know that retaining help from a professional Chattanooga car wreck attorney can assist you in making the decision that grants you the best opportunities for your case. Become acquainted with the below information in order to learn more about what goes into Chattanooga car accident settlements, as well as the benefits of contacting a skilled Chattanooga car accident attorney early on.
How to Prepare for an Initial Consultation on Chattanooga Car Accident Settlements
A police report, medical information, and car insurance information are the three most important categories of information needed at the very beginning of Chattanooga car accident settlement cases. The most significant information an attorney will need includes the police report or the car crash report from the law enforcement agency that investigated the collision right away so that they can attempt to establish liability or negligence demonstrated in the case.
The lawyer will need to know what doctor or medical facility they were treated at, what medical treatment they have received, or if they are in possession of any statements or information from those medical providers. This will help the attorney know where they can request complete copies of all medical records for the injured individual. Additional information to bring includes any car insurance information if the individual has their own insurance policy, as well as their declarations page from that policy. If they have any information on the other driver’s car insurance, that will also be extremely important.
Who Decides to Settle in Chattanooga Car Accident Cases?
The plaintiff decides whether or not to accept any offer in Chattanooga car accident settlements, but sometimes the individual does not receive a settlement offer. The insurance company or the defendant decides whether or not to go to trial, and if the defendant does not make an offer to the plaintiff to settle the case, then the plaintiff is left with the options of either not receiving compensation or going to trial. Often, an experienced attorney can get a settlement offer for the individual, and from there that individual decides whether or not to take the offer or to go to trial. The reasoning depends on the amount offered. If the amount being offered by the insurance company is unfairly low and the plaintiff is confident they can get more money at trial, then they should proceed to trial.
How Chattanooga Car Accident Settlement Amounts Are Determined
The amount of a Chattanooga car accident settlement is determined by an agreement between the parties involved. A settlement does not occur if either side does not agree. The plaintiff usually throws out the first number in a settlement negotiation and then the defendant will come back offering a much lower number, and it goes back and forth until there is a number that both sides can agree to.
In a lot of cases, the actual settlement number comes from the insurance adjuster. The defendant does have some influence over the settlement, but they do not get to decide the amount offered. The insurance adjuster cannot force the defendant to settle if they do not feel it is a fair offer.
What Goes Into Settlement Calculation
Settlements are based on the amount of damages that an injured individual suffers. This amount includes medical expenses, future medical expenses, lost wages, future lost earning capacity and money for non-economic damages like pain and suffering, loss of enjoyment of life, and mental anguish.
When an individual settles a case, a jury does not weigh in at all. A settlement is based on what the lawyers and/or the insurance company think that a jury would award. Past jury awards act as a guide to lawyers and insurance adjusters in understanding whether or not a case is worth the cost of a trial.
Effect of Negligence on a Settlement Amount
If the injured individual was negligent in the accident, then their settlement amount is likely to be decreased. For example, if they were 50% or more at fault in Tennessee, then they could not recover anything. But if they were less than 50% at fault, they would be entitled to recover an amount of money equal to the percentage of the other individual’s fault for their total damages. It is important to note that someone’s negligence can decrease or even prevent any recovery compensation.
Reasons to Settle the Case Rather Than Going to Trial
If the plaintiff is not sure that they can get more money at trial, then it becomes a difficult decision. Going to trial is very expensive. The plaintiff has to pay doctors and other experts to testify at trial, needs to request copies of all court transcripts, and will have to pay additional court costs for the time spent in trial.
The reason that individuals will take offers for Chattanooga car accident settlements even when they think they can get more at trial is that going to trial is a difficult process. All parties have to sit in front of a 12 member jury who are always wondering if they are telling the truth and are deserving of the money. It can be nerve-wracking and uncomfortable, causing anxiety, fear, and worry. Sometimes individuals will settle their case just to get it over with so they can avoid the effects of a trial. A reliable Chattanooga car accident lawyer will do as much as they can to insulate the plaintiff from these effects by acting as an aggressive advocate for their compensation.
Chattanooga Car Accident Settlement Process
The Chattanooga car accident settlement process includes submitting all damages and a demand for settlement to the insurance company, or to the defendant, and then the defendant responds by making a settlement offer. This process goes back and forth a few times. The plaintiff may decrease the amount they are asking for or the defendant may increase the amount they are willing to pay until an agreement is reached.
When both parties agree on the settlement number, the insurance company will require the plaintiff to sign a release which is basically a contract guaranteeing that the plaintiff will not bring any lawsuits or insurance claims based on these events ever again in the future. In this way, they forfeit their right to file a lawsuit or to continue a lawsuit that would go to trial. In exchange, the insurance company sends a check for the settlement, payable to the plaintiff.
Typical Length of a Settlement
From the time a demand letter is sent to the insurance company showing all of the injured individual’s damages, it typically takes a period of two to four weeks for the insurance company to evaluate all of that information and get back with a response in the form of an offer. Then negotiations going back and forth can sometimes take a few weeks as well (sometimes it takes longer than that depending on how the two parties view the case).
Once a settlement is reached, it generally takes a week or two before the insurance company sends the settlement release for the injured individual to sign and return back to the insurance company, and then another week or two until the insurance company sends the settlement check.
The check has to clear with the bank, and all of the subrogation liens (medical providers and any health insurance company involved) have to be worked out. After these steps, the money is ready to be paid. Unfortunately, this means that the settlement process can expand over a period of months.
How to Expedite the Settlement Process
The best way to expedite this process is by doing things electronically. This can greatly help when communicating with the insurance company. For example, when the injured individual signs the settlement release, it can be emailed to the insurance company right away rather than waiting for the mail. The settlement check can be sent by direct deposit into the injured individual’s bank account. Simple steps such as these can save several days.
Common Issues That Can Delay a Settlement
Issues often come up with individuals who have Medicare. Getting permission from Medicare to settle the case or disperse settlement funds sometimes takes a long time. The same can also be true for insurance companies if there is a legal question as to whether or not the insurance company is entitled to be repaid for their money.
Sometimes federal law (like an arrest) will come into play in these cases. If an injured individual has to wait for a specific number or a negotiation response from a health insurance company or a government insurer such as Medicare or TennCare, it will slow the process. Unfortunately, these approvals cannot be done in advance as the exact settlement number needs to be in place before contacting them.
The Role of an Attorney in Maximizing a Settlement
The injured party’s attorney can play a large role in determining the value of any settlement by making sure the injured individual receives all of the medical treatment necessary, making sure to document all lost wages, calculate the loss of future income (sometimes an expert will be retained to project these numbers), by talking with witnesses, and developing proof of damages.
At this point, the injured party’s attorney will submit a package to the insurance company to prove the damages in a legally sophisticated way in the hopes they will be willing to pay. Having an experienced plaintiff attorney will have a large influence on the amount that an insurance company is willing to pay to settle a case.
A car accident attorney can possibly increase the amount of money that a client recovers in a settlement. There have been insurance studies that indicate that someone with a lawyer recovers three times as much money as an individual without a lawyer. Even after paying an attorney’s fee, the client still walks away with more money in their pocket.
Contact a Chattanooga Car Accident Attorney
Chattanooga car accident lawyers take great pains to make sure everything in a settlement is done quickly. They will gather all pertinent information, contact the health insurance companies, and advise them of the case so that the process can move as quickly as possible when it comes to Chattanooga car accident settlements. If you or a loved one need legal assistance in your settlement case, call a reliable Chattanooga car accident attorney today to set up your initial consultation.
