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Does settlement of accident effect the case with insurance company
18-Apr-2023 (In Motor Accident Law)
jitendra mera ek mitra he uska 2014 se accident case insurance company ke sath chal raha he or sath me jis ne accident kiaya tha us vyakti k sath bhi accident case chal raha he aur is bich jis ne accidnet kiaya he vo vyakti paisa dekar case vapas leno ko bata raha he to yadi esa krne se is ka koi efffect insurance company sath chal rahe case me kuch ho sakta he aur kanooni taur per accident case me vo vyakti sath settle krna sahi he ya nei
Yes the above said out of the court settlement with the other party to the accident is legal and has no effect on the case with the insurance company if it does not involves the payment of the compensation to the other party who has settled the case If you are involved in a motor vehicle accident with an underinsured or uninsured driver, you will work with your own insurance company to obtain a settlement for both your property damage and any personal injuries.
Because you have a contract with your insurance company, the company owes you a duty to act in "good faith" in negotiating with you and settling your claim. If your insurance company is unwilling to compensate you satisfactorily, you can file suit against your insurer for breach of contract and bad faith. Many insurers want to avoid a bad faith claim because of the potential financial hit -- courts award "triple damages" in many states if a plaintiff is successful in a bad faith claim.
Because you have a contract with your insurance company, the company owes you a duty to act in "good faith" in negotiating with you and settling your claim. If your insurance company is unwilling to compensate you satisfactorily, you can file suit against your insurer for breach of contract and bad faith. Many insurers want to avoid a bad faith claim because of the potential financial hit -- courts award "triple damages" in many states if a plaintiff is successful in a bad faith claim.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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