Whether or not to file a lawsuit after being hurt in an accident depends mostly on the amount of injury suffered. Most personal injury suits are filed due to car wrecks or injuries suffered on someone else's property.
Realizing the potential for liability, people buy car, homeowner's, or property insurance. Indeed, most states make it mandatory that owners have insurance before they can register their vehicles.
These insurance policies provide payment for property damage and physical injuries. These policies have limits to the amount of money that will be paid out. Insurance purchasers may choose the amount of these limits and pay higher premiums for higher limits.
If the dollar amount of damages suffered by a victim is less than the limit of liability under the insurance policy, there may be no reason to sue. Insurance companies will usually be quick to settle a claim for damages rather than risk a lawsuit being filed. When this happens, the insurance company requires the person to sign a release form promising not to file a lawsuit against the company over the accident.
If the damages suffered are above the policy limits, you can sometimes recover more money through a lawsuit. For example, the common car insurance policy provides for payment of up to $100,000 for bodily injury to each person and up to $300,000 for each accident. If a victim suffers injuries that prevent him from working for the rest of his life, the insurance will usually not be enough to compensate him adequately. While the insurance company would gladly agree to pay the $100,000 limit, it would take a lawsuit to recover enough money to compensate him fairly.
Unfortunately, often times, even if the amount of damages might fall within the policy limits, you may have to file a lawsuit if the insurance company refuses to pay you a fair amount. This may happen when pain and suffering is a result of an injury. An insurance company may be willing to settle with you for a certain amount but not be willing to pay for pain and suffering, even if all the amounts would fall within your policy limits.
Lawsuits for car wrecks are best evaluated by an experienced Louisiana accident lawyer. To schedule a free appointment today, contact the Wright Pichon & Gray.