FAQ'S About Car Insurance Claims
How to determine car insurance settlement claim?
First are medical expenses.Those who have the so-called Med-Pay included in their insurance policies have a specific amount to spend on medical payments that range from $999-$5,000. All insurance companies use a very complex formula that takes in to account how much you were charged for the car accident.
Second is property includes vehicle damage as well as personal property damage incurred during a car accident. How an insurance settlement is determined for property damage is largely dependent on how damaged a vehicle is.
Third is lost wages.A car insurance company has the sole authority to determine the amount of lost pay based on documentation provided by your employer. Considering that you take vacation days, you are still allowed to receive your wages from the at-fault party. If you depend on settlement claims in order to pay or compensate your medical bills, you better seek a competent attorney that could help you with regard to your claims.
Fourth is amount of insurance claim depends on your liability. The insurance company will study your accountability in the car accident. Then, if they found that you have any liability, the insurance company will have the authority to reduce your final settlement based on your percentage of fault in the said accident.
How a car insurance settlement is calculated?
You must fully understand that every car insurance company has their own ways of calculating insurance claims. You may experience a better and adequate insurance settlement if you will seek the advice of a competent legal attorney.
You have the freedom to know the scope of the policies of your car insurance company and consult a legal attorney for clarifications and for better understanding of such policies.
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