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"How much money is my Texas car accident worth?"

Texas auto accident attorneys explain types of compensation

The financial toll of a car accident in Texas can add up fast. Emergency medical expenses. Car repairs. Lost income from not being able to work. And the longer your recovery time, the more all these expenses can add up.

And if you don't demand the money you deserve for your crash, you could end up paying for many of your accident-related expenses out of your own pocket - even if another driver clearly caused your accident. That's why it's important to talk to a Texas attorney who understands how the legal system works and knows how to get results. That's why you need Tracey & Fox.

Our lawyers are well aware of all the different types of financial compensation available to auto accident victims in Texas. That's because we have helped people get the money they deserve for decades. Learn more about the types of compensation available to you after your accident.

Texas a fault insurance car accident state

Each state has its own unique legal system when it comes to determining who's responsible for compensating car accident victims. Texas has a fault insurance system. That means the at-fault driver is responsible for compensating the other driver (or drivers) involved in the accident. In most cases, the at-fault driver's insurance company compensates all accident victims, including other injured drivers, passengers, pedestrians or cyclists.

The at-fault driver is defined as the driver who was at least 51 percent at fault. Determining who was at fault might seem straightforward, especially if the other driver clearly caused your accident. But many accidents turn out to be much more complicated.  That's because many at-fault drivers - and their insurance companies -deny any wrongdoing or try to downplay the severity of such accidents.

First-party, second-party and third-party car accident claims

Under Texas' fault insurance system, there are three main types of claims normally associated with auto accidents. These include:

  • First-party claim - Request for financial compensation filed with the injury victim's own insurance company.
  • Second-party claim - Request for financial compensation filed by an insurance company after an accident.
  • Third-party claim - Request for financial compensation filed by injury victim with the at-fault driver's insurance company.

As your attorney, we can help you decide what's the best method for obtaining the maximum compensation allowed after your accident.

Types of compensation available after an accident

The financial impact of a motor vehicle accident can be staggering. Many people only take into account their expenses immediately after an accident. But it's important to factor in every expense when determining the true financial impact of an accident.

Every accident is unique. But during the course of someone's lifetime, accident-related expenses can add up to hundreds of thousands or millions of dollars. Some of the most common expenses associated with auto accidents include:

  • Emergency medical care after accident
  • Long-term hospital care
  • Surgical procedures
  • Physical therapy
  • Lost income during recovery
  • Lost future earnings (if cannot return to work)
  • Modifications to home to accommodate a permanent disability

In addition, you or your family may be able to obtain financial compensation for:

  • Pain and suffering
  • Mental anguish
  • Loss of companionship

If a loved one died in a car accident, your family may be able to file a wrongful death lawsuit to obtain the money you rightfully deserve.

Minimum car insurance requirements in Texas

Under Texas law, all drivers must have auto insurance. The minimum amount of insurance drivers must have in Texas includes:

  • $25,000 for property damage per accident
  • $30,000 for bodily injuries per person per accident
  • $60,000 for bodily injuries if two or more people hurt in accident

Such amounts often don't cover the complete cost of a car accident. That's why it's critical to contact our law firm if the at-fault driver who caused your crash was underinsured (did not have enough insurance) or had no insurance at all.

What if the at-fault driver had no car insurance?

You might think there's little you can do if the driver who crashed into your car has no insurance coverage. However, many legal options exist. That's why it's important to contact our law firm as soon as possible.

If you have uninsured/underinsured motorist coverage, you may be able to file a claim with your own insurance company. You can also file a similar claim with your insurance company if you're victim of a hit-and-run car accident.

If you do not have uninsured/underinsured car insurance, you may be able to pursue other legal options. But it's important to speak with an attorney right away. Otherwise, you could miss out on an important opportunity to be fairly compensated.

How our law firm can help you

Under Texas law, you only have a limited amount of time to seek financial compensation. Specifically, the deadline for taking legal action after an auto accident in Texas is 2 years in most cases. Such a deadline is known as the "statute of limitations."

Two years might seem like a long time. But finding the evidence you need to build a strong, legal case often takes a tremendous amount of work. And the longer you wait to take legal action, the harder it can often be to find the facts you need to build a strong case.

Our experienced Texas attorneys know what evidence to look for and how to compile all that information into a compelling, legal case. Remember, you didn't do anything wrong. You shouldn't have to pay for someone else's mistakes. Put your trust in Tracey & Fox. Contact our law firm right now.

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