Insurance Is a Frugal Business
If the other driver is at fault in your accident, his insurance will provide coverage for any damages it’s liable for, such as medical expenses, lost wages, and any pain and suffering you incur.
However, insurance companies will do everything they can to limit the amount of money they spend. This can be in the form of offering a reduced settlement (what I like to call a “consolation prize") or flat-out denying your claims altogether.
Perhaps the provider will try to say the accident occurred due to an “act of God" or some other extenuating circumstance that doesn’t receive coverage — like if someone other than the other driver (e.g., his child) were driving the vehicle at the time of the accident.
It’s in negotiating this “liability claim" that you’re at risk of getting sold short. Even if you receive some coverage in the form of a consolation prize, you don’t have to be satisfied with it. Remember: Insurance companies are frugal. There’s no “out of the goodness of our hearts" money. Don’t accept anything less than what you deserve.
The other insurance provider wants you out of its hair as quickly and cheaply as possible. You need the support of someone who knows the intricacies of insurance law and has experience negotiating fair settlements. Yes, lawyers aren’t cheap, but neither are medical bills. But by being proactive and getting some legal assistance on your side, you can make sure that a one-time accident doesn’t snowball into a financial disaster.