Common Mistake Made After a Wisconsin Car Accident

Posted by rozeklawoffice on April 20, 2010 under Car Accidents, Insurance | Be the First to Comment

One of the most common mistakes made by an injured party directly following a car accident is signing an insurance release too early. Insurance companies often attempt to convince an injured party to sign a release early on, settling their personal injury case as quickly as possible after the accident. A quick settlement almost always equals less compensation than warranted for the injury victim.

What a lot of people do not realize is that insurance companies, like any other business entity, has protocol to follow to save money when making payouts to their clients. The insurance wants to cut costs and increase profits. What you may not know is that, according to a study commissioned by the insurance companies, claimants that are represented by lawyers receive an amount 2 to 3 times more than those not represented by an attorney, and this is after the attorney fees are paid.

Keep in mind that many times, injury symptoms (particularly brain injuries) do not appear right away. Although you may be symptom free or only have mild symptoms directly following the accident, a few weeks later, you may feel differently and start experiencing injury symptoms.

Also, doctors are usually not able or willing to assess a permanent medical condition until at least 6-12 months past accident. A quick settlement prevents an injured person from making a claim for permanent injury and the costs of any future medical treatment that may be needed.

My advice is simple: Do not settle your case unless you are absolutely sure that your injuries have resolved and you will have no problems in the future.

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For more on common mistakes made after a car accident, order your free Consumer Guide to Auto Accidents in Wisconsin or contact an experienced Wisconsin Car Accident Attorney.

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Wisconsin Propety Damage and Compensation

Posted by rozeklawoffice on January 25, 2010 under Car Accidents, General, Insurance, Truck Accidents | Be the First to Comment

Under Wisconsin law, if your vehicle has been damaged due to someone else’s negligence, you are entitled to compensation for your losses. The amount of compensation will depend on the value of the property and the extent of the damage.

Repairable Automobiles- You are entitled to the following:

1. The Cost of Repair of the Vehicle- whether or not you actually decide to have the vehicle repaired.

2. The Loss of Use of the Vehicle- compensation for the cost of a reasonable comparable rental vehicle while you are unable to use your vehicle for any period of time from the time of the crash to the time the vehicle is repaired.

3. The Diminished Value of the Vehicle- sometimes when vehicles sustain damage and are repaired, their resale value drops. You are entitled to the loss in value of the vehicle after the repair.

Non-Repairable or Totaled Vehicles- You are entitled to the following:

1. The Fair Market Value of the Vehicle- this is usually referred to as the “Blue Book” value, which can be obtained at kbbb.com. Technically, this is just one indicator of the fair market value of the vehicle, which is really just the amount for which the vehicle could be sold. Usually, if the cost to repair the vehicle is 70% of the fair market value of the vehicle, the insurance company will consider it a “Total Loss.”

2. The Loss of Use of the Vehicle- compensation for the cost of a reasonably comparable rental vehicle while you are unable to use your vehicle for any period of time from the time of the crash to the time you get the insurance company’s total loss payment.

For more information on car accidents, order the Free Consumer Guide to Auto Accidents in Wisconsin

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