YOU ASK:

How do third-party insurance claims work?

WE ANSWER:

You have been involved in a car accident in which the other driver has been at fault. What you have to do next, and make sure you do it as soon as possible, is notify your insurer of the accident and all the circumstances around it. You also need to file a third-party claim against the other party's insurer to make sure you will be indemnified for all your losses.

Things to Consider with Third-Party Claims

Before making a third-party claim, there are a number of things you should do. Here is a list:

  1. Visit a physician promptly after the accident and get all the check-ups necessary. A thorough examination will determine your condition and the severity of the injuries you have sustained. Your Medical Record will also serve as proof of your condition that the claim adjusters can use in order to evaluate what your losses have cost you. Remember: the more evidence documenting your physical condition, the more likely it is for you to get the compensation you deserve.
  2. Try to evaluate all the losses that you have been subject to. Add up all the expenses incurred as a result of property damage, bodily injuries, loss of wages, etc. Last but not least, don't forget that, being a victim of an accident, you can get compensatory damages to make up for the pain and suffering that you have been subject to.
  3. Although it is a tough choice to make, you need to decide whether you will be able to handle the third-party claim yourself, or you will be better off contacting an attorney. If your injuries are serious, we recommend that you seek the help of a lawyer. Otherwise, you should try and deal with the issue yourself.
  4. The at-fault party's insurer will most probably contact you soon after the accident, trying to offer you a deal. Beware of such premature settlements, especially when you have not assessed how much you compensation you should receive. Try to provide as little information as possible and do not sign anything.
  5. Remember that the at-fault driver's insurer is indeed obligated by law to pay liability compensation in third-party claims. However, if your losses exceed the other driver's liability limits, you might end up inadequately compensated. In such cases, your underinsured motorists coverage (if you have such in your auto policy) will cover the gap.
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