When a personal injury law firm representing you on a contingency fee basis, the at-fault driver’s insurance company may send your settlement payment to the law firm. Your lawyer might then deduct his agreed-upon fee and submit the remainder of the settlement amount to you.
According to Fair Claims Settlement Practices Regulations §2695.7, the settlement from the at-fault driver’s insurance company must meet the following criteria:
- The settlement offer you receive must not be unreasonably low.
- When a settlement agreement is accepted, it must be paid within 30 days.
Additional guidelines might be in place if your settlement. These include compensation for vehicle repairs or replacement. All guidelines must comply with the Fair Claims Settlement Practices Regulations §2695.8. If your injuries are catastrophic or require long-term care, your legal team may help you assess your financial damages, which might include future expenses.
When you work with Jacoby & Meyers, an auto accident lawyer in Los Angeles will walk you through the steps of your case, taking the time to help you understand:
- How the insurance claims process works;
- The settlement payment process after an accident;
- How your claim might benefit from the guidance and direction of an attorney.
Your Lawyer May Help You Value Your Compensation Claim
An attorney can negotiate a financial settlement on your behalf. Before that, members of your legal team may help you assign an accurate monetary value to your compensation claim. California Civil Code (CIV) §1431.2 provides details on the types of economic and noneconomic damages you might be entitled to recover, including:
- Health care, therapy, and rehabilitation expenses
- Loss of wages, earnings, and business income
- Repair or replacement costs for your vehicle
- Physical, mental, and emotional pain and suffering
- Physical disability, impairment, or disfigurement
Your personal injury team may help assess the cost of anticipated expenses and losses. Underestimating the financial value of your claim for recovery might lead to an undervalued and underpaid settlement. Work with your legal team to build a case file. It must contain the documents that prove the value of your claim.
Support Your Compensation Claim with a Strong Evidence File
Your legal team may work with you to build an evidence file that bolsters and supports your right to compensation. Your evidence file will consist of items that help demonstrate the cause and the cost of the accident to representatives on both sides. It might contain:
- Medical records that prove the extent of your health care
- Medical bills that prove the cost of your health care
- Car accident report that proves the cause of the accident
- Witness statements, photos, and video footage
- Proof of income that demonstrates your financial losses
When a car accident leads to injuries and property damage, you might prefer to focus on your physical recovery rather than on compiling a mountain of paperwork. When a personal injury lawyer represents your compensation claim, they will concentrate on your financial recovery.
You May Only Have a Limited Time to Act
Any personal injury lawsuit filed after a car accident in Los Angeles is governed by the statute of limitations in the California Code of Civil Procedure (CCP) §335.1. It generally allows the filing of a personal injury lawsuit within two years of a car accident. Complying with the statute of limitations is an important part of your fight for compensation.
Failing to file your lawsuit within the allotted time could prevent you from seeking the financial compensation you deserve. With enough notice, your legal team may be able to make sure of the timely filing of your lawsuit. This can remove the risk of having your pending lawsuit disqualified or dismissed.
If a car accident claims the life of a family member, you might have the basis of a wrongful death lawsuit. The two-year timeline for filing your wrongful death lawsuit starts on the date of your loved one’s demise. Your legal team may also explain how the presence of a minor and other factors might toll, or temporarily pause, the statute of limitations.
Contact Us Today
Our team might be able to help you understand the complexities of the financial settlement, negotiation, and resolution process. With our guidance and direction, you may understand the process of paying settlements and the entire negotiation process in relation to your car accident case. When you are ready to resolve your claim with an insurance settlement, reach out to Jacoby & Meyers Law Offices, and call us at (866) 559-7223 today.
[INFOGRAPHIC] How Do Settlements Get Paid?