Know the Law: On Car Accident Claims

car accident lawyerVictims bear the brunt of the many costs associated with motor vehicle accidents. Nonetheless, it’s a different case if you’re not responsible for the accident. You can file a claim against the liable party to seek a fair settlement. This is when the services of New Orleans personal injury law firms can be a helpful choice.

Having legal representation can make things easier when filing a claim. Still, there are a few points you need to understand. Here are some of the important things you shouldn’t miss before filing for a car accident lawsuit:

Statute of Limitations

Statute of limitations is the period you can file a personal injury lawsuit or go to court after the accident. This may vary in every state—in Louisiana, the statute of limitations is one year. If you wait too long or file your lawsuit beyond the period set by the state, you will lose any right to compensation for injuries or any losses caused by the accident. This is why it’s important to get the services of law firms in New Orleans before the statute of limitations ends.

Alternative Dispute Resolution

You can reach a car accident settlement through alternative dispute resolution so you don’t have to take the case to court. This may involve an arbitrator who can decide the amount of compensation that you can receive from the liable party or insurance company. In some cases, though, alternative dispute resolution involves a mediator to facilitate settlement discussions between both parties without going to trial.

Settlement Funds

The settlement funds are the funds the insurance company pays after you agree to settle your case. Car accidents pose several problems and difficulties, especially when parties disagree on the events that took place. Fortunately, the law has provisions to make sure that anyone involved in the accident receives a fair settlement. This makes it even more important to have the right approach in filing for an accident lawsuit.