Car accidents can be overwhelming experiences, and reaching a settlement is often seen as the final step toward financial recovery. However, what happens if an error is made during the determination of your car accident settlement? Mistakes can have significant financial implications and may leave victims without adequate compensation. Fortunately, there are ways to address such errors.
This article points out the possible errors that could occur during the settlement process, the legal options you have available, and how to ensure your rights are protected.
It’s always recommended that you consult with an experienced car accident lawyer, such as those at Brandon J. Broderick, Attorney at Law. A lawyer can provide legal advice that would aid your specific case.
Common Mistakes in Settlement Determinations
Several factors influence car accident settlements, from the extent of damages to the calculation of future losses. Mistakes may arise at various stages of the process, including:
Miscalculation of Damages
A common issue in settlement determinations involves underestimating the victim’s damages. This can include errors in assessing medical expenses, lost wages, and the costs of long-term care or rehabilitation. When these damages are undervalued, the settlement may not adequately cover your needs.
Ignored Future Losses
Future expenses, such as ongoing medical treatments or diminished earning capacity, are often overlooked or underestimated. A comprehensive settlement should account for these potential losses, ensuring financial stability for the victim.
Incorrect Liability Assessment
If there is a mistake when determining fault in a car accident, you may receive a reduced settlement or none at all. For example, insurance adjusters or legal representatives may incorrectly assign a percentage of fault to you, reducing the amount you are entitled to under comparative negligence laws.
Failure to Include Non-Economic Damages
Settlements should account for non-economic damages, such as pain and suffering, emotional distress, and loss of enjoyment of life. If these factors are excluded, the settlement may fail to provide adequate compensation.
Legal Recourse for Settlement Mistakes
If you suspect a mistake was made in your car accident settlement, you have legal options to address the issue. Here are some steps to consider:
Reviewing the Settlement Agreement
Start by carefully reviewing the terms of your settlement agreement. Look for discrepancies, such as missing damages or errors in liability assessment. Consulting with an experienced car accident attorney can help identify potential issues.
Requesting Reconsideration
In some cases, you can request a review or reconsideration of the settlement. This process typically involves presenting evidence of the error, such as medical records, receipts, or expert testimony.
Filing a Legal Claim
If the mistake is significant and cannot be resolved through negotiation, you may need to file a legal claim. This could involve suing the insurance company or other parties involved in the settlement process. A personal injury attorney can help build your case and represent your interests.
Key Laws Related to Settlement Disputes
Understanding the legal framework surrounding car accident settlements can provide clarity and guidance. In most cases, the following laws may apply:
Statute of Limitations
Each state has a statute of limitations for filing disputes or legal claims related to car accident settlements. In many states, including New Jersey, the statute of limitations for personal injury claims is two years from the date of the accident. Missing this deadline could forfeit your right to dispute the settlement.
Comparative Negligence
Under comparative negligence laws, your compensation may be reduced based on your percentage of fault. If liability is incorrectly assigned, disputing the settlement could help restore a fair distribution of fault and compensation.
Bad Faith Insurance Practices
Insurance companies have a legal obligation to handle claims fairly and in good faith. If an insurance company acts dishonestly, such as intentionally undervaluing your claim or delaying payments, you may have grounds to file a bad faith lawsuit.
Preventing Mistakes in Settlement Determinations
While mistakes can be rectified, prevention is always preferable. Here are some tips to help avoid settlement errors:
Keep Detailed Records
Maintain thorough documentation of all accident-related expenses, including medical bills, repair costs, and lost wages. These records will serve as valuable evidence during the settlement process.
Work with a Personal Injury Attorney
An experienced attorney can review your settlement offer, negotiate on your behalf, and ensure all damages are accurately accounted for. They can also identify potential red flags and address issues before they become significant problems.
Obtain Expert Opinions
In complex cases, consulting with experts—such as medical professionals or accident reconstruction specialists—can provide additional support for your claim. Their insights can help establish the full extent of your damages.
Call Brandon J. Broderick For Legal Help
Navigating car accident claims can be challenging. Fortunately, you don't need to do it alone. The experienced car accident lawyers at Brandon J. Broderick, Attorney at Law, are available 24/7 to help you understand your legal options, gather necessary evidence, and build a strong case to secure the settlement you deserve.
Contact us now for a free legal review.