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How Can I Get Fair Compensation After a Car Accident?

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Getting in an accident is a scary and stressful event. Unfortunately, the likelihood you will get in an accident at some point in your life is very high. Should that occur, there are a few things to do to make sure this event doesn’t cost you any more time and money than necessary.

Keep Records

According to Nolo, the most important thing you can do after you get in an accident is to keep detailed records. Records would include detailed photos of the accident with damages sustained to your and the other driver’s car, insurance information, receipts for car repairs and medical bills, and what compensation you have received. When you track your expenses, you have a higher likelihood of claiming the complete cost of damages ensued rather than the other driver or insurance companies underestimating your damages.

Get a Lawyer

Even if the other party from the accident is cooperating, it is best to get a lawyer who can run interference on your behalf and negotiate the best deal for you. Not everyone can cover car and medical expenses out of their pocket before receiving compensation. Your compensation will be processed faster because insurance companies are more likely to cooperate with someone who has the legal backing and credentials to obtain the necessary information. According to Rogers Beltran, insurance companies have an interest in paying you as little as possible. When you hire a lawyer to fight on your side, you are much more likely to maximize your claim.

Hold Your Ground

Too often people do not claim the damages or medical bills caused by an accident. It is a lengthy and difficult process, but insurance agencies make it that way on purpose. They need to protect themselves from shelling out money to everyone who comes asking for it, but you need to claim what is rightfully owed to you. According to Great Plains Autobody, if you do not seek help and fair compensation, there could be damages either to your car or your body that will haunt you for many years. Hold your ground and be persistent in the pursuit of fair compensation, you deserve it!

When an accident occurs, you can take control of the situation. Keep detailed records. Hire a lawyer to go to bat for you. Don’t back down when opposing parties are difficult. Doing so will ensure you receive fair compensation after a car accident.

Read this next: How Should I Measure My Financial Health?

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About The Author

Michael Kelley is a Cleveland, OH Fee-Only financial planner. His firm, Kelley Financial Planning, provides comprehensive financial planning, retirement planning, and investment management to help clients organize, grow and protect their assets through life's transitions.

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