These policies, sometimes known as “full coverage” insurance, pay for the damage to your vehicle regardless of fault in the collision. If you cause an accident (collision coverage) or your vehicle sustains damage in a non-collision incident (comprehensive coverage), this policy will pay to repair or replace your car. It could pay out up to policy limits.
You can also file a claim based on this policy to recover compensation after another driver causes a crash. Your insurance company will pay out minus the deductible for your car repairs and then try to recover the money they spent from the at-fault driver’s insurance company through a process called subrogation.
Medical payments coverage is an optional policy that pays to cover medical care costs related to accident injuries. Unlike a liability policy, this coverage pays for the policyholder’s injuries. It applies regardless of fault. There is generally a deductible, and this policy will only pay up to its limits.
Once we believe we have strong support for our client’s claim, we determine a fair settlement range and demand the insurer pay us for our client’s damages. This is equivalent to “filing the claim.” We generally send a letter outlining our case and projected value, asking them to pay.
Insurers only want to pay out as much as absolutely necessary. They rarely accept our demands. So, we negotiate to reach a settlement agreement that works for our client.
Often, a settlement with the insurer is possible. In that event, we draft an agreement, and our client signs. This agreement states that they will not pursue any additional compensation in the case in exchange for the agreed payment.