When you are involved in an accident, particularly a car accident, you have two options for filing a claim if you want to recover compensation for your damages and losses. The option you choose largely depends on who was at fault for the accident, but additional factors will have an influence as well. Continue reading to learn these two options and the difference between them both.
The two types of insurance claim options you face after being involved in a car accident is a first party claim or a third party claim. A first party claim is an insurance claim that you file with your own insurance carrier, under your own policy. A third party claim is an insurance claim that you file with the opposing party’s insurance carrier.
The purpose of filing a claim, whether for injuries or vehicular damages, is to recover the money you need to make up for the financial losses that resulted from your accident. This may include medical expenses, hospital bills, lost wages, and sometimes, even pain and suffering. As mentioned, the type of claim you file after a car accident depends on who was at fault.
Who is At Fault?
If you were at fault for the car accident and subsequent damages that resulted, then you would need to file a first party claim through your own insurance company. If you were not at fault for your accident, then you would file a third party claim with the at-fault party’s insurer.
A common example of a first party insurance claim accident would be if you didn’t stop soon enough at a red light and collided into the back of another person’s car. In this same example, the driver you hit would need to file a third party insurance claim with your insurance carrier.
At Fault Parties
In a car accident, there could be many potential opposing parties, including a vehicle manufacturer, a business, another driver, a pedestrian, or even the city. More than one party can be at fault for a car accident as well, and each party can be liable for different levels of fault. Furthermore, the level of fault in a car accident can sometimes be unclear, in which case, you might have to file a first and third party claim.
This means your car accident personal injury claim, or claims, can get very complex, which is why you require a licensed and experienced Indianapolis car accident attorney to help recover the full and fair compensation you deserve after being injured in a car accident. If the opposing party’s insurance is unwilling to settle fairly, an accident attorney can take your case to trial.