Being involved in a car accident is a stressful situation, and it can continue to be so for weeks or months after the accident occurred. Injuries that you sustained may be preventing you from being able to work, and, as a result, you might be suffering from lost wages and the heavy burden of medical costs.
When you have been involved in an accident in Iowa that has negatively affected your quality of life and damaged your financial situation, it is important to know the best way to react. It is essential to know your rights and understand how you should engage with your insurance company and lawyers.
What is the car insurance law in Iowa?
In the state of Iowa, you must be able to show proof of your financial responsibility. This means that you should be able to show proof of insurance, pay for all damages involved, or post a bond. However, posting a bond or voluntarily paying for damages can be risky and it is always a good idea to talk with a lawyer if you plan to do this informally. In this way, you are able to protect yourself from any false claims made by the other party.
If you have car insurance in Iowa, you will be covered to a certain financial extent. The law in Iowa specifies a minimum amount of coverage that insurance companies should offer. This is $20,000 per person in liability for injuries, capped at $40,000 in total, and $15,000 in property damage liability. If you believe that the car accident was the other party's fault and the incident was a serious one, it is likely that it will be necessary for you to file a legal claim in the state of Iowa.
How do settlements work in Iowa?
Car accident legal settlements in Iowa differ depending on the specific situation. However, it is vital that all claims are filed within two years of the accident date in personal injury cases, and five years after the accident date for property damage.