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If someone crashes your car, you can claim compensation. The process of finding this type of auto accident compensation is called a third party insurance claim.
A car accident can cause loss or damage to property. An investigation will reveal the amount to be compensated. Liability insurance will compensate you in such situations.
Other situations include car accident injuries. An insurance company of the driver at fault pays the cost of treatment. Compensation claims have a specific deadline.
What is a third party auto insurance policy?
A third party insurance policy is when an insured person purchases a policy from an insurance company. The purpose of the policy is to protect against the claim of another person.
The insurance company of a driver at fault will pay you after following a specific process. Here’s what you need to know to make a third party auto insurance claim.
Car accident lawsuit
After an accident, you have to pay a filing fee and wait for a hearing. Other expenses that you may have to incur are expenses related to traffic accidents, such as the cost of treatment.
The person claiming compensation will have to wait until a case is decided in their favor before receiving a settlement. Funding for a car accident lawsuit can pay for your expenses and buy what you need during the waiting period.
It is risk free financing and you do not have to search for money to pay off the debt. When you request a legal cash advance, you will refund the money after you win your case. If you are injured and need money to pay your bills, you are eligible for client legal financing.
This type of financing is not the same as car accident lawsuits loans. It does not depend on the credit rating of the applicant. Funding a car accident lawsuit gives you cash relief during the investigation period. Here’s what to keep in mind when investigating and making a third party claim.
Some states have no-fault laws. In such states, you must first make personal injury claims. You must make these claims to your insurance company.
You must also have PIP (Personal Injury Protection) insurance to make a third party claim. In no-fault states, you must meet specific qualifications before you can sue a driver for a car accident. In most cases, you can only sue a driver when a serious injury or death occurs in such states.
In some cases, a driver who causes an accident may not have enough insurance. This means that such a driver may not be able to cover the injuries of the other driver.
You can use your underinsured motorist coverage. This coverage can help you pay your medical bills if a driver who caused the accident does not have sufficient coverage.
If this option is not available to you, you can apply for pre-settlement cash funding from the law. This is a cash advance that can help pay for your medical bills while you sue the other driver.
You can repay the advance after winning the case and receive a settlement. An underinsured driver may still have money to pay you, although that may not be enough.
In other situations, you may have collision insurance coverage. You can choose to use this coverage and not the faulty driver insurance.
This coverage compensates you for damage caused to the car by someone else. The downside to this option is that the deductibles will result in a reduction in your compensation.
You can obtain the amount of your deductible later if your insurer decides to be reimbursed by the insurance company of the driver at fault.
What you should do at the scene of a car accident
When making a claim with a third party, you may need to prove that the other driver is at fault. To present a strong case, you need to hire a lawyer and collect evidence.
Gather all the information you need at the scene of the accident. For example, take photos, eyewitness contacts, and police reports. These are some of the items you will need for your case. Here’s what to do immediately after an accident.
When your car is involved in an accident, try not to panic. Pull back and breathe. Watch out for soft tissue injuries.
Make sure that no one in the car is injured. Any injury will increase the stakes for insurance claims.
Exchange pilot information
After confirming your safety and that of your passenger, remain calm. Avoid road rage. If possible, move to a safer position and avoid crowded places or roads with cars traveling at high speed.
Exchange insurance information with the driver of the other car and be sure to call the police. Wait for a police officer to arrive.
Collect all the information you need. Gather the insurance ID information of the other driver.
Some insurance companies have a mobile app with a checklist for car accidents. You can use such resources.
Take as many photos as you need to capture your damaged car and the condition of the road. You will need this information to file a complaint.
Contact your insurance company
Contact your insurance company without wasting time, no matter who is at fault. Many insurance companies have mobile apps that you can use to file a claim. Confirm if this is allowed and use these resources.
Submit your complaint
Confirm the deadline for submitting a claim and be sure to submit yours on time. In most cases, the submission deadline is 30 days.
Understanding your auto insurance policy
After an accident, read and understand your auto insurance policy. Remember what you are entitled to and what you are not entitled to.
When you start the complaints process, the first step is to register the FIR (First-Information Report). You can do this at a police station near you and pick up an indictment.
After registering an FIR, a court will register a case. This is a special tribunal that deals with claims for compensation for traffic accidents.
Special courts are used in this process because civil courts are not authorized to adjudicate compensation claims in such cases. You can file a claim for property damage, personal injury or even death.
What will be compensated
When an accident occurs, a person can suffer serious injuries that require them to be hospitalized. You may want to file claims for hospital bills.
Injuries can result in permanent and total disability or partial disability. In other situations, an accident can result in lost wages. It means that a person is not able to earn an income due to accidents.
When you register a case with a court, you can be compensated after proving that the other driver is at fault.
These cases can take a long time to resolve. During this time, you also have to pay some bills. In situations like these, a person can opt for personal injury loans. These are accident loans that help you pay your bills while you wait to win a case and get a settlement.
In other cases, an accident can result in death. A person can claim medical expenses for injuries causing death. The dependents of the policyholder may claim compensation.
If you own a car, it is advisable to understand how to make a third party auto insurance claim. It doesn’t matter who is to blame.
Knowing what to do in the event of an accident can prevent you from making costly mistakes. One of the things you need to remember is how long it takes to receive a settlement.
During this time, you may need to spend money on expenses like bills and other lawsuit costs. There are legal loan companies that can provide auto accident loans to help pay your expenses.