Obtaining Compensation From A Multiple Vehicle Accident

It is critically essential that individuals who are hurt in traffic accidents get the financial compensation they need to pay for the damages they sustained. The aftermath of a car accident can be pretty costly as medical treatment can be expensive, and so can car repairs or replacements.

The claims process is rarely easy, but certain situations can make it more complex. One such instance is when many people are injured in one single traffic accident.

Injured parties of any type of injury accident can benefit from having an experienced attorney assisting them with the claims process. Claims can be complex, and understanding all the nuances of working through a claim, such as how to conduct skilled negotiations or how policy limits can affect settlements are issues that an attorney will be knowledgeable about and able to provide professional assistance. Obtaining the highest amount of compensation is the key, but many factors and considerations go into being offered a fair and full settlement.

The car accident attorney at Monaco Law PC has more than thirty years of experience practicing law and can help you get the most out of your claim, no matter how complicated it is.

When Multiple Parties Are Seeking Financial Damages From One Accident 

Understanding the limits of a New Jersey or Pennsylvania insurance policy is critical to learning what to expect from a claim and how much a settlement could possibly be. Car accidents that cause several people to be injured can be particularly involved, especially for insurance companies where multiple parties are simultaneously making claims against a single limited policy.

In this situation, the amount of money that can be obtained from a claim paid by an insurer will have to be divided among all individuals who were harmed and filed valid claims. As a result, the insurance company may do any of the following:

• Assess each claimant’s injuries and pay a proportional amount based on how extensive each person’s physical bodily harm is.
• Have to deal with multiple competing claims.
• Have a court-supervised settlement meeting.

When one limited policy must pay many parties, it is important to understand that claimants in this scenario will have to endure highly complex negotiations to get a settlement. Since an insurance company will have to pay more than one party, dividing the coverage often means that each claimant will be unable to get the full amount of their damages and instead only receive a portion of the actual value of their claim.

To receive compensation that is higher than the policy limit, suing an at-fault driver may be a possibility but this is only feasible for an at-fault driver with significant personal wealth. In other cases, a claim could potentially be made against underinsured coverage if it is available. Depending on who caused the accident, if a commercial vehicle driver is responsible, claimants may be able to access business liability coverage.

Speak to a New Jersey and Pennsylvania Personal Injury Attorney Today

After a multiple-vehicle accident, call an attorney at Monaco Law PC at (609) 277-3166 for our New Jersey office and (215) 546-3166 for our Pennsylvania office to discuss your case today.

We are a New Jersey and Pennsylvania personal injury law firm serving Atlantic County, Bucks County,  Burlington County, Cape May County, Camden County, Chester County, Cumberland County, Delaware County, Gloucester County, Mercer County, Middlesex County, Monroe County, Montgomery County, Philadelphia, Ocean County, Salem County, Susquehanna County and all of South Jersey.

Source:

.njcourts.gov/sites/default/files/charges/8.43.pdf