An auto accident injury settlement is monetary compensation for an injury caused in the accident. As you will have been represented by a lawyer a portion of this settlement goes towards settling the fee of your auto accidents lawyers in Iowa City IA. In the greatest majority of cases the actual compensation comes from the insurance carrier of the defendant but, there are also cases where the defendant must pay damages from his own personal money. The settlement amount is either negotiated between the parties or it is left to the court.
In almost every case there is at least one responsible party. In the event someone was injured in the accident this individual will most likely receive some compensation for his or her medical expenses, lost time at work and other expenses associated with the accident. This money is called the “settlement” because it is paid after a process has gone through that started with a claim or a complaint. In a good number of cases, a settlement is structured after considerable negotiation between the parties and their legal representatives.
If the injuries are minor the settlement is usually reached quickly, rarely will there be a need of an auto accident lawyer in Iowa City IA. In the event the injuries are more severe it may take a considerable amount of time to arrive at a settlement. One reason for the extended length of time is the severity of the injuries and treatments may be long and drawn out. Before any settlement can be made the long term ramifications of the injuries must be determined as well as the total costs.
Cases like this are is often heard in civil court. In court there will be two teams of lawyers; the auto accident lawyers in Iowa City IA that are representing the injured party and the lawyers who have been hired to defend the individual who was alleged to be responsible, or the insurance company that refuses to settle the claim fairly. The lawyers for the injured party are compensated by a prearranged and agreed upon portion of the settlement.
In the event the responsible party does not have insurance the court will normally order that the settlement be paid from the personal finances of the negligent party. There are times when the responsible party has insurance but not enough to satisfy the full award, in these cases both the insurance company and the negligent party will pay a portion.
