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3 sources of compensation after a serious car crash

On Behalf of | Jul 10, 2024 | Motor Vehicle Accidents

Motor vehicle collisions are a leading cause of both death and severe injury in North Carolina. People in all age groups are at risk of crashes that might put them in the hospital. After a serious crash, an injured person could have tens of thousands of dollars in losses or more.

From towing and vehicle repair costs to medical bills and lost wages, there are many sources of financial pressure following a car wreck. If someone cannot work because of their injuries, they may worry intensely about fulfilling their financial obligations. The following are some of the potential sources of compensation available to those injured in a car crash.

Liability insurance coverage

Every motorist in North Carolina typically needs to carry an insurance policy. That policy protects them from direct financial liability if a crash occurs. Every driver should have at least 25,000 worth of property damage coverage. State statutes also require $30,000 of bodily injury liability coverage if a crash injures one person or $60,000 for crashes involving multiple hurt people. In some cases, insurance coverage is adequate to fully reimburse an individual injured in a collision.

The driver at fault for the crash

In cases involving uninsured drivers or inadequate insurance coverage, the driver at fault for the wreck may be personally liable. Someone injured in a crash or those grieving the death of a family member could file a lawsuit against the driver at fault for the collision. The courts can award compensation up to the full economic value of the crash. Medical expenses and lost wages are easier to fully recover in a lawsuit because strict policy limits do not apply as they would during insurance claims.

Third parties

There are some scenarios in which a business or other third party could have a degree of liability for a North Carolina crash. Maybe the person at fault for the wreck was an on-duty delivery driver. Vicarious liability rules might make their employer accountable for the losses generated during the collision. Perhaps the crash was at least partially due to a defective vehicle component. Manufacturers might have a degree of responsibility for the financial consequences of such crashes. There are a variety of different scenarios in which those injured in the car crash could hold an outside party accountable for losses that the party at fault for the wreck cannot cover.

Exploring every option for financial compensation after a motor vehicle collision can help people limit their losses. Given how costly a crash can be, pursuing every opportunity for compensation may be necessary for innocent crash victims.