When you talk to a car accident lawyer or an insurance company about your property damage and personal injury claim after a collision, they will use certain words and phrases during the discussions. A car accident lawyer with Hensley Law Office, in Flatwoods, KY, explains terms you should know.

Here are some typical car accident claim terms and their meanings:

• Total Loss: If it would cost more to repair a car than it’s worth, or if the damage is so severe that repair is impossible, the car is called a total loss. In these situations, insurance companies usually offer the vehicle owner the actual cash value of the car and do not pay for repairs.
• Actual Cash Value: If the owner had sold the vehicle immediately before it was destroyed or damaged in the collision, the selling price of the car at that point is called its actual cash value. Market value is another term used to describe the actual cash value of a car in accident claims.
• Settlement: When an insurer and a car accident claimant agree that the insurance company will pay an amount to the claimant to resolve the claim, it is called a settlement. The settlement covers all property damage and personal injury claims in the case. Once claimants sign a settlement release and receive payment, their rights to sue or claim any other damages end.

The lawyers at Hensley Law Office are skilled at negotiating, settling, and trying car accident cases. You can count on their deep knowledge of insurance industry practices and their strong advocacy to resolve your claims in a way that gives you the greatest benefit.

After a car collision, seek help from a car accident lawyer who speaks the claims language. Call (606) 836-3117 for an attorney at Hensley Law Office in Flatwoods, KY. For a complete list of their legal services, visit their website today.