If you’re injured in a car accident, the chances are good that you won’t know how expensive your recovery will be. While the at-fault driver’s insurance company can issue a settlement to help you pay for your medical expenses, that settlement may not be enough to cover the full cost of your treatments. This is because each policy has limits in place that restrict how much you can receive. Your trusted Chicago car accident lawyers at Anesi Ozmon, LTD., are here to help. Before you can start exploring your options, you need to understand what policy limits are and how they impact your settlement.
What Are Policy Limits?
Policy limits are the maximum amount that the insurance company will pay out in a settlement for any injuries suffered. The exact limit will depend on the type of policy the driver has and the amount of insurance they purchased. Some policies have by-accident limits which caps the amount of money they’ll pay out to all injured parties involved in an accident while others have a per-person limit.
If your costs fall below the limit and the settlement you receive from the insurance company, you’ll be in good shape. But if your injuries are severe, it’s likely that the insurance settlement will fall short of your actual costs.
You May Be Able to Sue the Responsible Driver
If the responsible driver’s insurance policy limits are too low, you may still be able to sue the driver for additional damages. Anything you receive as a result of the lawsuit will be in addition to the insurance settlement. It’s not usually an either/or situation. The additional damages you may recover can help you pay for ongoing medical bills and take some of the financial stress out of the situation.
Keep in mind that every case is unique and there are a few things you’ll want to do to increase your chances of success.
Document Everything You Can
The key to success in most personal injury lawsuits in Chicago lies in documenting as much of your condition, your expenses, and your projected recovery as you can. Maintain records of your medical treatments and be prepared to provide copies of your medical bills to your car accident attorney as needed. The more documentation you have on hand, the easier it is to build a case showing that you’re entitled to additional compensation.
Don’t Put It Off
The thought of suing someone while you’re trying to recover from your injuries can be overwhelming. While there’s no way to remove the stress from the situation, waiting to file until you’re feeling better may not be the best idea. In Chicago, you’re only able to sue the responsible driver within two years of the discovery of your injuries. If you wait past the two-year point, you effectively lose the right to sue for damages. Instead of waiting, schedule a consultation as soon as you can.
Schedule a Consultation with a Chicago Car Accident Lawyer
If you’ve been injured in an accident and believe the insurance settlement is too low, don’t wait. Contact the team at Anesi Ozmon, LTD., and schedule a free consultation. Our experienced Chicago car accident lawyers will do everything they can to get you the settlement you deserve.