Insurance companies, as all of us know, insure people and help them out by providing appropriate compensation. Assets of people like cars and homes, and the people themselves are insured with the help of insurance policies, such as car, medical, or health insurance.
At times, it so happens that companies and their customers reach a point of debate, regarding compensation and its amount, where each party is justified. Such debates are resolved with the help of personal injury settlement.
Meaning of Personal Injury
The basic intention of insurance companies is to reduce the uncertainties of life. A health insurance plan is a type of insurance policy that is meant explicitly for health related problems and uncertainty. A person insured with a health policy can rightfully demand compensation for the expenditure incurred for all health related problems.
A personal injury is considered to be covered under such a health insurance. In ordinary cases, insurance companies pay the compensation for medical expenditures, at the earliest.
However, there are some cases where companies refuse compensation on the basis of legal and honorable basis, by quoting their arguments, which forces the insured person to initiate settlements for personal injury.
This concept can be further explained with the help of an example, that was found in a recent case of law. This personal injury settlement involved a person who was hit by a car. Local courts held that it was the person who was hit by the car, the person was not at fault, and the driver of the car was fined, very heavily.
The injured person was denied compensation for the injures that he suffered. The injured person thus resorted to injury settlements. It was held by the court in accordance with the insurance policies, that the insurance company of the person who was injured was liable to pay indirect expenditures, such as loss of wages, car/ambulance rentals, etc.
On the other hand, the medical expenditures, such as hospital and medicine bills were to be paid by the insurance company and the person responsible for the accident. The person himself, who was responsible for the accident was to compensate sufficiently for emotional injuries and pain caused.
Standard Settlements Procedure
The first and foremost thing that you need to do is, after the accident, visit a doctor.
This is very important due to two simple reasons, firstly, even the smallest injury can become a life-threatening one in case it is left unattended and secondly, it is also important to document the it, with the help of X-rays, doctor's prescription, a medical bill, or any report by medical practitioners.
The second step is to claim the compensation, with the help of an appropriate application. You will also have to decide where to file the claim, as the injury can also occur in the course of an employment, that is within the office premises or when you are out of station, representing your employer.
In case of an impairment in the course of employment, you would need to file the application for compensation even with your employer. In case of a road accident, or impairment occurring as a result of crime (e.g.: physical assault), you would also need to file a complaint with the police.
In most cases, it would be not necessary to file a lawsuit. The companies would directly compensate you for the expenses and the total trouble caused.
However, when there are more than two parties involved, such as yourself and creditors, in case of a personal injury settlement and bankruptcy, or yourself and 2 insurance companies, the insurers would call you in for a process of peaceful negotiations. Again in most cases, the negotiations prove to be fruitful, as everything is done lawfully.
If you find the results of negotiations unsatisfactory, then you can file a lawsuit in order to recover losses. The process of settlements, in some cases where a lawsuit has been filed, can become tiresome and lengthy, hence, it is extremely important to maintain a patient approach towards the process of injury settlements.