In the wake of a car accident, getting a fair settlement can be tough. Your injuries can make it difficult to focus on your damages, and understanding your vehicle’s worth isn’t always easy, as many factors can change the car’s worth. A car crash can be overwhelming.
As such, it can be difficult to negotiate with auto insurers after a wreck, especially if you’re working alone. You’ll need to know what to expect and how to handle your car crash claim to ensure you get the full compensation you deserve.
Understanding Your Car Insurance
First, you’ll need to understand what your car insurance will cover and when you’ll need to file a claim against the other driver. New Mexico is a fault state, which means that the person responsible for your accident is also financially liable for it.
That means that you’ll have two options for compensation. You may either file a claim with your own insurance company and let them seek compensation from the other insurer, in a process called subrogation, or you may file a third-party claim with the other insurance company.
However, you might find that the insurance companies aren’t willing to give you the full compensation you deserve. They may be more concerned with their profits, which means that they may not offer you the full settlement you deserve. If they refuse to give you the full settlement you’re entitled to, you’ll then need to file a personal injury claim against the insurance company or the other driver.
Know Your Claim’s Worth
After filing your claim, you’ll receive a settlement offer from the insurance company, but how do you know what your claim is worth? Getting the full worth of your damages is important for a full recovery.
First, you’ll need to understand what your car is worth, which is often found by calculating the fair market value of your car. The fair market value is the worth of your vehicle if it was sold by a willing seller to a willing buyer for its exact worth. This value gives the insurance company an idea of what the car was worth before the accident.
Once the worth of your car has been determined, you’ll also need to keep any receipts for car repairs. You might have had some parts replaced since the accident, and you may receive compensation for those repairs.
Get Your Full Settlement
Unfortunately, dealing with the aftermath of a car accident can be upsetting. You’re facing expensive repairs, but you’re not sure where to turn for the settlement you deserve. Fortunately, your accident attorney from Will Ferguson & Associates can help you recover.
If you’re struggling to negotiate your settlement after an auto wreck, don’t deal with the auto insurers alone. Instead, get help fighting back and seeking your full settlement. With a car crash lawyer on your side, you may have a better chance of getting your settlement without a fight while you’re injured.
Seek out your settlement by taking advantage of our free consultations first. We can review your claim and review what we can do to help. When you’re ready to begin, then, just call us at 505-633-0750 or fill out the online form on our website.