By Olivia Wathne, Esq. | Legally reviewed by FindLaw Staff | Last reviewed August 26, 2024
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Like many other states, Tennessee has laws that determine whether you must report a car accident, how insurers get involved, and the time frame within which you must file a lawsuit.
Were you recently in a car wreck in Tennessee? If so, understanding the Tennessee car accident settlement process can help ensure that you get fair compensation.
The following article offers key information about how to pursue a claim against an insurer following a Tennessee car accident.
There are two kinds of accidents that you must report in Tennessee:
Tennessee drivers in a reportable accident must give proof of financial security under Tennessee Code Section 55-1102(12). This is true unless you can produce notarized releases from each person involved in the accident.
Adequate car insurance is proof of financial security. If you do not have proof of insurance, a surety bond or cash to cover all the damages is an acceptable substitute.
After a car accident claim gets filed with the appropriate insurer, the company's claims adjuster investigates. The investigation usually includes gathering evidence such as police reports, medical records, and interviews with witnesses.
The insurance adjuster reviews the submitted evidence, including medical bills and records of medical treatment, to determine the strength of your personal injury claim. They then decide whether to offer a settlement. With the help of your attorney, if you have one, you decide whether to accept the settlement offer. This initiates the settlement negotiations process. This may be the first of several offers and counter-offers proffered by either side.
Once the parties agree on a mutually acceptable settlement, they will sign a settlement agreement. Accepting the settlement amount, you release your claims against the insurer.
An average of car accident settlements is difficult to produce. This is because the circumstances of an accident differ greatly from person to person. But, the factors involved in determining the amount of a car accident settlement for injury victims include:
The extent of your injuries and the amount of money required for your recovery are crucial in this determination. Also, the at-fault driver's insurance policy limits and your ability to negotiate a fair settlement play significant roles in the final settlement amount.
Tennessee law requires that you file a car accident lawsuit within one year following a car accident injury under Tennessee Code Section 28-3-104 or three years after an accident involving vehicle or property damage under Tennessee Code Section 28-3-105. This statute of limitations is critical. Failure to file within these time limits can result in the loss of your claim altogether.
Car accident settlements can take significant negotiation or litigation before the parties can reach an agreement. For this reason, consult a local car accident attorney. A lawyer can help you manage your communications with the insurance companies. They can also ensure that you get fairly compensated for your damages.
Contact a qualified attorney.
Get tailored legal advice and ask a lawyer questions about your accident. Many attorneys offer free consultations.