When it comes to auto accidents, victims may be entitled to certain monetary damages. Where the money comes from is of vital importance. Read on and find out more.

Auto Insurance Settlements

If the driver that caused the accident has insurance, your money damages will come from them. However, many insurers are reluctant to pay up to the policy limits. To avoid that, they make the victim an offer that covers only part of their damages. Some victims unknowingly accept the money without realizing they are entitled to more. For instance, insurers generally won't offer victims payment for pain and suffering. To avoid being paid less:

  1. Seek medical treatment without fail even for minor accidents.
  2. Don't speak to the other side or their insurance company for any reason.
  3. Speak to a personal injury lawyer and ensure you are paid what you deserve.
  4. Negotiate with the other driver's insurer to get you paid for your damages.

Settlements are the quickest way to be paid after an accident and victims can expect payment within weeks of an agreement.

Private Settlements

Some drivers are not insured but they still have assets that can be used to pay a settlement. If the driver is without insurance and the state has set low limits covering uninsured motorists, you have the option to contact a personal injury lawyer and investigate the financial resources of the driver. You may be able to uncover money in a saving account, for example, that could be used to cover your accident expenses.

Court Judgements

If the case does not settle, your lawyer may advise you to file a lawsuit against the insurer or the driver, depending on their resources. As soon as the case is filed, your lawyer will ask the judge to freeze the bank accounts of the driver and their assets. That way, if the insurance is inadequate or they had no insurance, the assets of the driver can be preserved. Defendants without insurance may experience garnished wages, seized savings accounts, and liens on real estate.

Many drivers are insured with adequate policies, however.  If you win your case against an insurer, the judgment must be paid within a certain amount of time. Though it varies, the insurer usually has less than a month to produce a check for the plaintiff.

To find out how much you can be paid and when, speak to a personal injury lawyer.