Following the occurrence of a minor accident, there might not be any injuries. In that instance, the owner of the damaged vehicle would only want to receive enough money to cover the cost of any needed repairs.
What process should take place, if the insurance company gets asked for that amount of money?
The insurance company should pay either the amount of money that could cover the cost of the repairs, or the amount that equals the vehicle’s actual cash value.
Under what circumstances would the vehicle’s owner have reason to file a lawsuit?
The owner might consider filing a lawsuit if there had been debate about who was at fault, or about what had caused the accident. The owner might want to file a lawsuit if there was some question about the extent of the damage. Two other issues could push the owner to sue the insurance company of the responsible driver:
1) Questions had been raised about the cost of getting the vehicle repaired.
2) Questions had been raised about the vehicle’s actual cash value.
What contentious issues might get the vehicle owner thinking about suing the insurance company?
Questions have been raised about the presence of pre-existing damage.
The policyholder has been asked to pay for damages to one of the other vehicles involved in the collision. This possibility is most apt to become a reality after the occurrence of a rear-end collision. One of the involved drivers has no insurance.
What developments might cause the emergence of a problem?
The accident took place in a state with a no-fault system. Vehicle damage is not covered by that particular system.
The owner of the damaged vehicle had purchased only a bare minimum of collision and comprehensive coverage.
Suppose there is no lawsuit, and no contentious issues or other problems emerge?
In that case, the vehicle’s owner and the insurance company should manage to settle in about 30 to 90 days. At that point, the insurance company would issue a check, and the vehicle’s owner would be expected to sign a release. Later, if any signs of an injury were to be observed, then the insurance company could not be held responsible.
How does that timeline compare to the one that describes the length of a case in which a lawsuit was filed?
Following the filing of a lawsuit, Personal Injury Lawyer in Mississauga knows that the timeline for resolution of a dispute over no more than damage to a vehicle could fill a period that equals close to 2 full years. Yet a policyholder might feel ready to wait that long for compensation, if the insurance company had suggested that the same policyholder was wholly or partly responsible for the damage-creating accident.