How Do Settlements Work in Injury Cases?

An accident settlement is monetary damages awarded to a victim injured by the reckless or careless behavior of another person or business. Settlements may pay for all losses incurred by the victim. In some states, like Kentucky, a no-fault state, victims file a claim against their personal injury protection (PIP) coverage to receive benefits for their losses, no matter who is at fault. There are times when you can file a claim against the other driver as well, and a Lexington personal injury lawyer can be of assistance.

How Settlements Work in Kentucky After an Accident

Kentucky is a no-fault state, meaning every driver carries PIP coverage. This means that after an accident, you file an accident claim with your insurance company for the losses you have, including medical bills and lost wages. Insurers must pay up to the amount of coverage you have, which is typically at least $10,000 per person, based on your losses. Lost wages are covered up to a maximum of $200 per week.

If you have serious injuries and losses, meaning you have at least $1000 worth of medical expenses or sustained a permanent injury or disfigurement, you can then file a lawsuit against the at-fault party for additional losses you have.

When You Can File a Lawsuit for a Personal Injury Settlement in Kentucky

The state of Kentucky allows victims with severe injuries to file a lawsuit for their losses. Under the state’s laws, a severe injury could include:

• Permanent injury
• Broken bones
• Permanent disfigurement
• Death

Alternatively, you can establish you have a severe injury by demonstrating you have at least $1,000 in medical bills from the accident. In these cases, you can file a claim against the at-fault driver’s insurance policy to recover damages.

How Do Settlements Work?

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How the Settlement Process Works

To file a claim and receive a settlement, you must work through the following steps:

• File a claim with the appropriate insurance company. Demonstrate what all of your losses are. Then, notify the insurance company of all losses you have.
• An investigation happens. The insurance company will investigate your accident to determine its responsibility to pay for your losses. They will ask questions and seek additional information.
• Negotiate a settlement. The insurance company may offer a settlement, which is a set payment they will agree to make to you for the accident and the losses you have suffered. You do not have to accept this settlement value, and you should not do so if you do not believe the compensation is fair.

Your injury attorney will help you determine if the settlement value is fair. If you agree to it, you will sign an agreement, and you receive payment. If you do not, you can continue to negotiate with the insurance company. If they refuse to treat you fairly, or if claim disputes exist, you can then file a lawsuit against the at-fault party to hold them legally accountable.

In either case, once an agreement is reached, the funds are paid to you, typically through your insurance company. You can then use those funds as you see fit, after all legal fees are paid.

Schedule a Free Consultation with Our Lexington Injury Attorney Today

In most accident cases, it is essential that you work with an attorney to build your evidence-based claim and defend it with the insurance company. Working with a personal injury or auto accident attorney can be a valuable investment. Call us at (859) 268-4300 for a free consultation today.