When a person is injured in an accident that somebody else has caused, they will file an insurance claim. The amount of money they get is generally determined by their injuries, their medical bills, and any lost wages they have incurred. If you are about to file a claim, you may be wondering if there is a set minimum amount that you can receive as a settlement.
There is no set minimum for an insurance claim in Arizona. If you end up taking an insurance company or a negligent driver to court, the minimum amount that a judge or jury could award you would be $1.00, although they are unlikely to do this.
How does an insurance company figure out a settlement amount?
According to a Glendale personal injury attorney, When you file an insurance claim, the insurance adjuster assigned to your case will look at various documentation to determine if your claim is legitimate. Then the adjuster will determine how much money you should receive for your injuries based on the documents you have provided.
If you want your claim to be successful, you should provide some or all of the following:
- A copy of the accident report.
- The name number and insurance information of any other drivers involved in the accident.
- Photographs of the scene.
- The names and numbers of any witnesses at the scene.
- Copies of medical reports.
- Copies of medical bills.
- Receipts from any medications that you have taken whether they are prescription or non-prescription.
- A letter from your employer stating the number of hours you have missed from work due to your injuries.
- Proof of any services you have needed because of your injuries, such as professional house cleaning.
The insurance adjuster will approve or deny your claim. If they approve your claim, they will offer you a certain amount of compensation. Before you take that settlement, you should speak with an attorney. An attorney can tell you whether or not the settlement is fair. If the amount of money that an insurer is offering you is not fair, a personal injury attorney can negotiate with them. At this stage, you may wish to consider lawsuit loan funding, to help see you through the immediate period before the settlement is made. However, as you can see from these sketchy presettlement funding examples, caution should be taken to ensure your funding loan is from a reputable company.
What am I entitled to?
When you are injured due to another person’s negligence in the state of Arizona, they are responsible for paying the medical bills associated with the accident. If you break your arm and require a cast that costs $400, you should receive at least $400 in medical expenses. If you break your arm and need a $40,000 surgery, The responsible party’s insurance would have to pay that amount.
A driver in Arizona must have bodily injury coverage of at least $25,000 for each person and $50,000 for each accident. A driver is required to carry a minimum of $15,000 for property damage. Even though the at-fault driver might have enough coverage to pay your bills, the insurance company may not be willing to pay your bills in full. They may try to claim that your injuries are not as severe as you claim, or they may try to prove you had pre-existing conditions that made the injuries you sustained in the accident worse.
A personal injury attorney will be able to negotiate with the insurance adjuster on your behalf. They will be well versed in Arizona law and insurance law. At the very minimum, you should be able to recover the cost of your medical bills. You should also be compensated for the time you had to take off work to go to doctor’s appointments and have surgery.
If your injuries are very severe, you may be entitled to money for pain and suffering. Generally, pain and suffering money is only awarded if you develop a permanent condition as a result of the accident. If you fracture a bone or are permanently disabled or disfigured, you should get compensation for pain and suffering.
There is no minimum amount awarded for pain and suffering. The amount of money claimants receive is generally based on the amount of time their injuries will take to heal and their loss of enjoyment of life.
You should never resign yourself to getting the bare minimum to pay for the aftermath of an accident. Not only can an accident result in severe pain and expensive medical bills. It can take a toll psychologically. You should get the maximum amount of money you need to recover. A personal injury attorney can help get you the money you need for the best possible care.
Veeramachineni Lalitha
I am Finance Content Writer. I write Personal Finance, banking, investment, and insurance related content for top clients including Kotak Mahindra Bank, Edelweiss, ICICI BANK and IDFC FIRST Bank. My experience details : Linkedin