What is a Third Party Insurance Claim?

Posted on 5/2/13 by Pat Maloney

There are two distinct types of claims when you get in a car or truck accident: a first party insurance claim and a third party insurance claim. A first party insurance claim is filed with your own insurance carrier, either because the accident was your fault or the other driver had no insurance. It’s also used in cases of theft, vandalism, and other incidents when the at-fault party is not present. A third party insurance claim, on the other hand, is filed with the other driver’s insurance carrier. This type of claim is necessary when the wreck is the other driver’s fault, either in whole or in part.

Through a third party insurance claim, you can seek recompense for damages to your car, as well as medical bills for any injuries you’ve suffered. In the event your car is totaled, the claim will usually award you an Actual Cash Value, so you can replace your vehicle. They may also pay fees for any rental cars you must use in the meantime.

There is no guarantee you will be paid in full for all of your injuries and damages, however. The amount you will receive depends on the exact specifics of your case and how much of a role you are determined to have played in the wreck. If the other driver’s insurance can show that you shared some of the blame in causing the accident to happen, you will only receive a portion of the funds you are seeking.

Ultimately, the insurance company will make you a settlement offer after evaluating your case and the accident. In order to determine if you are being offered a fair amount for your injuries and damages, it’s always best to consult an attorney before accepting a settlement or signing any paperwork. An attorney can ensure you’re being treated and compensated fairly.

Need help with your third party insurance claim? Call the Law Offices of Pat Maloney today at at 210-226-8888 to get started.

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