Money is not the entire answer when it comes to recovering from an auto accident. No amount of money will ever pay for the trauma, uncertainty, discomfort, and other negative effects many victims suffer from. However, you deserve to be paid when another driver causes an accident. Some may wonder where the funds to pay victims come from. To learn more, read on.
Money Damages Owed to Victims
Though every accident case is different, many victims are owed for the below forms of damage after an accident:
- Payment of medical expenses
- Reimbursement for lost wages from a job
- Repair or payment for a wrecked vehicle
- Pain and suffering from the emotional effects of the accident on victims
Common Sources of Compensation
Accident damages can range from small sums to those in the millions of dollars. In most cases, medical expenses will be very expensive and a major part of the damages. However, pain and suffering can be several times the dollar amount of medical expenses. Where this money comes from depends upon the circumstances and insurance coverage.
When you first speak to a personal injury lawyer, money damages are of prime importance. For the case to be worth pursuing, there must be a source of funds to cover your losses. Your lawyer will investigate the auto insurance coverage of the at-fault driver first and then make other inquiries later.
Most drivers are insured and can use their policies to pay victims of an auto accident. Your lawyer will be in touch with the insurer for the other driver because they will be responsible for paying for your damages as listed above. Never communicate directly with the other driver's insurer, however. Do let your insurer know about the accident right away.
Some drivers carry what is known as umbrella coverage. This form of insurance covers businesses, lawsuits, car accidents, homes, and more. Your attorney will determine whether the driver has that form of insurance if they do not have auto insurance.
In some cases, the driver has no insurance at all. That doesn't mean you cannot be paid for your damages, though. Much can be done to secure funds from a driver using the court system. Your lawyer can request the judge place a hold on the driver's assets to preserve them until the case is complete. They can place liens on real estate, freeze bank and investment accounts, and place garnishments on a worker's wages to pay off personal injury losses. Bankruptcy won't protect the driver since legal obligations cannot be listed on the filing.
As you can see, it's not just about auto insurance after an accident when it comes to damages. To find out more, speak to a personal injury lawyer.
Contact a local firm like Clark Law Group, PLLC.