How much is my car accident lawsuit worth?

You were just trying to be nice, and you let your friend use your car. What's the worst that could happen? Then your friend ran through a red light, slammed into a pickup truck, and wrecked both vehicles. Now what?

Your Insurance

The first thing you should know is that your insurance is probably still going to take the hit. From an insurance perspective, the coverage is on that specific car. No matter who is behind the wheel, that policy applies to the vehicle. This is important to note because many people assume that the coverage belongs to them and therefore goes with them from vehicle to vehicle, but that's not actually how it works.

Exceptions

There are exceptions, of course. Your coverage doesn't have to be used if your car was stolen or if your friend borrowed it without telling you. The example provided above assumes you lent out the car intentionally, but the situation changes if you didn't.

Tickets and Charges

Naturally, the above only pertains to insurance. From a legal perspective, your friend is still at fault. Points will go on his or her record, as will fines and tickets. If your friend is facing more serious charges -- perhaps it was a deadly accident -- you're not at fault, either, unless you somehow contributed to the crash. For instance, if you knew your friend was drunk and told him to drive your car, anyway, you may end up getting sued for helping to create a dangerous situation.

Who Pays?

It's important to be careful about who you let drive your car. Understand the responsibilities you may take on when you loan it out. Be sure you know who has to pay after a car accident. This can be incredibly important when the costs are high and people have been injured in the wreck. Always know what your legal rights are and what steps you may need to take since your car was involved.

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