Tennessee Car Accident Settlement Process and Timeline

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.

Do I Need to Report a Car Accident in Tennessee?

There are two kinds of accidents that you must report in Tennessee:

• Auto accidents that involve personal injury, death, or property damage costing $50 or more. Under Tennessee Code Section 55-10-106, you must immediately report this type of accident to the police.
• The Tennessee Department of Safety classifies accidents involving personal injury, death, and property damage more than $1,500 as "reportable." Under Tennessee Code Section 55-10-107, you must report the accident to the Department of Safety within 20 days of the incident.

Tennessee Car Insurance Laws

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.

How Do Car Accident Settlements Work in Tennessee?

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.

What Is the Average Car Accident Settlement in Tennessee?

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:

• Medical expenses
• Lost wages
• Car repairs
• Pain and suffering
• Disability or disfigurement

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.

How Long Do I Have to File a Car Accident Lawsuit in Tennessee?

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.

Get Legal Help With Your Car Accident Case in Tennessee

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.