What Is the Difference Between a First Party Insurance Claim and Third Party Insurance Claim?Filed under Car Accident, Personal Injury, Personal Injury Cases, Personal Injury Education
Being involved in a car accident can be frightening, to say the least. A serious crash may leave you with medical bills, time away from work, pain and suffering, emotional distress, and various other damages. Fortunately, Nevada law allows you to file an insurance claim and potentially recover compensation to alleviate the financial burden caused by the collision.
There are generally two types of insurance claims that can be filed after a car accident: first-party insurance claims and third-party insurance claims. The facts surrounding the crash and who is involved will largely dictate which claim is appropriate. But in any case, if you have been injured in a car accident, you should seek experienced legal representation, who can guide your claim and handle the insurance process from start to finish.
With decades of experience and a long history of securing the best possible results in first party and third party insurance claims, a Las Vegas car accident lawyer with Paul Padda Law should be your next call. Call us today at (702) 366-1888 or contact us online to set a free consultation.
What is a First-Party Insurance Claim?
A first party insurance claim in Nevada occurs when you as the policyholder files a claim with your own insurance company. There are a few reasons it’s wise to file a first party insurance claim. For instance, if you have worked with a lawyer and determined the accident was your fault, this type of claim can compensate you for any injuries you sustained. Also, if your accident involved a natural disaster, filing a first party insurance claim may also make sense.
What is a Third-Party Insurance Claim?
In a third party insurance claim, you file a claim with another policyholder’s insurance company. If the car accident in question was not your fault and you suffered injuries as a result of another party’s negligence, a third-party insurance claim may be appropriate. For example, if you were driving down the road and were rear-ended by a driver who was texting, the accident is likely not your fault. In this case, you have the right to file a claim against the liable driver’s insurance company. By doing so, you may recover compensation for medical bills, lost wages, pain and suffering, and other damages.
Can I File Both a First and Third Party Insurance Claim?
Typically, it only makes sense to file a first party or third party insurance claim. However, in some situations, both may be filed. For instance, if you find out that the responsible driver lacks sufficient insurance coverage, filing a first-party and third-party claim can increase your chances of securing the maximum compensation for your damages.
The Process of Filing an Insurance Claim
Following a car accident, you should reach out to your insurance company or the insurer of the liable driver. Typically, your insurer will ask some questions relating to how the accident happened and what injuries you are coping with. Then, a claims adjuster will investigate your case, make a determination about liability, and provide an initial settlement offer if appropriate.
Since insurance companies are in business to make money and often low ball compensation amounts, it’s always wise to consult a car accident lawyer before accepting any offers. A lawyer can help you determine what your case is worth and ensure that you receive fair and full compensation for your damages.
Injured in a Las Vegas Car Accident? Contact Paul Padda Law, PLLC
If you’ve been hurt in a Las Vegas car accident are unsure of whether you should file a first party or third party insurance claim, we encourage you to contact us right away. Paul Padda Law can help you answer this question and make sure you’re being treated fairly by an insurance company.