How do I report an accident to State Farm?
If you’ve just been in a collision, don’t worry – reporting an accident to State Farm is straightforward.
First, you need the person’s name and their insurance policy number. Hopefully, you got this at the accident scene. If not, it should be on the police report. If you want a copy, you can fill out the Oklahoma City Police Department Accident Report Request.
Next, “file a claim” at State Farm.com or call their 24/7 claims hotline at 1-800-SF-CLAIM. You’ll be connected with a representative who will walk you through the process of filing a claim.
They’ll ask for basic information about the incident and any other parties involved and details like when, where, and how it happened. Once all the necessary information has been collected, the adjuster will give you the following steps to process your claim. If you have an injury claim, State Farm will usually also require you to sign a HIPAA Release so they can review your medical records. Note that they might be going after records that are unrelated to the wreck.
If your car still needs to be repaired, the next step is to get estimates from repair shops or provide additional documentation, such as pictures of the damage or police reports. State Farm will either send a property adjuster to look at your vehicle or tell you a body shop where they want you to get an estimate.
If you are claiming your policy, your adjuster will also explain what kind of coverage you have on your policy. You can find out what insurance will cover and what might not be eligible for reimbursement.
When all paperwork is filed correctly and everything is in order, State Farm will evaluate your claim to determine its “validity” and if there’s sufficient coverage under the policy to cover any damages incurred from the incident. At some point, they’ll make you an offer. Remember that there is a two-year statute of limitations in Oklahoma. This means that the claim is lost forever if a lawsuit is not filed within two years from the date of the accident.
What to Expect As the Insurer Investigates Your Case
As the adjuster reviews your case, you may need clarification on what to expect; however, it’s essential to understand that their goal is minimizing any payout. During this process, there are a few things you should keep in mind:
- The insurance company will investigate the accident and gather evidence from both parties.
- They will also assess the damage to both cars and determine who was at fault. Even in a clear-cut rear-end collision, the insurance company often delays by stating, “Liability hasn’t been determined yet.”
- Your statements and those of other passengers or witnesses may be taken as part of the investigation.
- The insurer will usually request medical records if necessary to evaluate your claim.
- You must provide accurate information about the accident and its circumstances. Lying will not help your case and will almost always come back to hurt it.
The insurer will consider all these details when determining an appropriate settlement amount. This can take anywhere from a few days to several months, depending on how complex the case is. A common delay is asking the claimant for “more information.”
During this time, you will need to remain patient and cooperate with the insurer so they have all the necessary information to make an informed decision. Get an attorney involved if you’re tired of playing games with State Farm. You can always reach out directly with questions or concerns during this process, and most car accident lawyers will review your case for free.
Ultimately, an insurance adjuster prefers to settle a case, as this gets another file off their desk, but they want to do so by agreeing to pay for as little as possible.
State Farm’s First Settlement Offer
You may wonder what kind of settlement amount you can expect from State Farm after a car accident. Generally speaking, the first offer is usually significantly lower than what you can ultimately get as a settlement. State Farm operates by “teams,” so you won’t speak with the same adjuster each time. Whenever you call in, you’ll likely be talking to someone who knows nothing about your case apart from what is in their claims management software. So, it helps to be patient.
Just so you know – the exact amount of your first offer will depend on the details of your case, such as any medical bills or damage to property that occurred. Even though they know it isn’t reasonable, it’s common for State Farm to offer less than the actual medical bills as their “first offer.” Their first offer is typically meaningless, so don’t get discouraged.
Sample First Offer Settlement Amounts
State Farm typically begins with a settlement offer that is less than the amount requested by the claimant. In general, the adjuster will want you first to make a “settlement demand” before they make an offer. Depending on the facts of the case, the first offer can range from as low as 10% to as high as 70% of where the adjuster has the claim evaluated.
Additionally, claimants should know that State Farm will consider factors such as “fault” and damage when calculating their initial offer. If they think you were somehow 20% at fault for the wreck, they will generally decrease their offer in line with that percentage.
When considering a settlement offer from State Farm, it’s essential to bear in mind three key aspects: 1) The amount offered may not cover all damages incurred; 2) You don’t have to accept a settlement offer immediately; 3) It’s beneficial to seek legal advice before making any decisions.
How Does State Farm Calculate Settlement Values?
State Farm considers several factors when determining a settlement value for a car accident. They will consider medical treatment and bills, lost income due to the injury, and the type of injury sustained.
Medical expenses include hospital visits, physical therapy sessions, medications, etc. Lost income depends on the injury’s severity and the time necessary for recovery. Just so you know, you will need proof of your lost income. The easiest way to do this is to get a letter from your employer.
Medical Treatment and Bills
When negotiating a settlement amount from State Farm, it’s also essential to factor in all potential future medical costs associated with the incident. These can add up quickly, depending on the injury sustained by the victim or victims involved in the accident. Remember that insurers may attempt to discount your bills, so ensure you have accurate documentation of all costs incurred during treatment and recovery. State Farm sometimes arbitrarily “discounts” what they think is reasonable for medical bills.
Lost Income
This includes payments for any time taken off from work, and any job opportunities missed due to the injury. If you have suffered a permanent disability because of the accident, you may also be able to claim compensation for loss of future earning capacity.
You will need evidence, such as pay stubs or tax returns, to prove your lost income claim due to an accident. It’s essential to keep track of all paperwork related to your case to ensure that you receive appropriate compensation for your lost income.
Type of Injury
The type of injury sustained can significantly impact the compensation you receive for your case. For example, two people might have nearly identical medical bills from an emergency room due to a wrist injury from a car wreck. They both have x-rays, the ER physician, ambulance, and hospital bills. One person is diagnosed with a sprained wrist, while the other has a broken one. While these bills are nearly identical, the injury and potential settlement values are usually quite different. This is where the “pain & suffering” calculation comes in. There are no exact formulas to use, though. It boils down to a combination of what the insurance company, plaintiff, and the attorneys think a jury might end up awarding balanced with what the insurance company and the plaintiff are willing to settle the matter for.
Similarly, if an underlying medical condition has been exacerbated by the car accident, this could also lead to increased (or decreased) compensation. In any case, it’s essential to understand how different types of injuries may affect the settlement amount and seek professional legal advice.
Who Are State Farm’s Lawyers, and are they more willing than other insurance companies to go to trial?
In general, State Farm lawyers are employees of State Farm. If you can’t settle the claim, the next step is to file a lawsuit against the driver who caused the wreck. Even though State Farm is handling the defense, they are not a party to the case.
In short, State Farm’s approach to legal representation is both efficient and cost-effective. Rather than paying high hourly rates to outside law firms, they utilize their “in-house” legal teams to handle cases. This allows them to keep costs down while defending a high volume of patients.
Does State Farm’s offer increase dramatically when a suit is filed?
Filing a suit can usually, but only sometimes, increase what State Farm is willing to offer to settle a case, so it’s worth considering if you’re looking for the best possible outcome.
Generally speaking, when an insurance company such as State Farm is taken to court over an accident claim, they are often more willing to offer a higher settlement amount to avoid further legal fees and trial costs.
However, this does not necessarily mean that State Farm will permanently settle quickly or at all – sometimes, their offer may remain unchanged even after the suit has been filed.
What happens to my auto loan if State Farm totals my car?
If the repair cost exceeds 60% of the fair market value, and State Farm accepts liability, they will offer to “total the vehicle.” They’ll issue a check made out to both you and any lien holder (your lender). However, it is essential to note that the amount paid out will often not cover your remaining balance on the loan. Most lenders require this, so check to see if you have GAP coverage to pay the difference between your car’s worth and what is owed.
Frequently Asked Questions
How long does it usually take for State Farm to settle a car accident claim?
Assuming you and the adjuster have come to a settlement agreement, you can expect State Farm to process and settle your car accident claim within two weeks (usually) after all the required documents have been signed and submitted.
State Farm won’t issue a settlement check until they received the signed settlement release. Remember that the release will release State Farm and the driver for any future claims related to your wreck. So, only sign if you are ready to close your case.
Does State Farm have a limit on how much it will pay for a car accident claim?
Yes, State Farm does have a limit on how much they’ll pay for car accident claims.
The first “limit” is determined by the kind of coverage their drive has and the type of claim being made. The is the policy’s liability limits and are the maximum amount that State Farm will pay out for bodily injury or property damage caused by an accident. The minimum required in Oklahoma is a “$25/50/25k” policy. If the State Farm driver has this policy the most State Farm will pay per claimant is $25k, but limited to a total of $50k if there multiple claimants, and $25k for the property damage. Note that State Farm does not have to disclose their insured’s “policy limits” unless a lawsuit has been filed.
Additionally, if your claim is for medical expenses or lost wages, there may be other limits imposed on what State Farm can cover. It’s important to check with your policy and an agent to understand any restrictions that might apply in your particular case.
Does State Farm cover any rental car costs while my car is in the shop?
If you’ve been in a car accident and your car is being repaired, you may be wondering if State Farm covers rental car costs. The answer is yes – State Farm will usually cover the cost of renting a vehicle while your own car is being repaired. Note that they will time-limit the rental to a “reasonable” amount of days
How long does it usually take for State Farm to settle a car accident claim?
Assuming you and the adjuster have reached a settlement agreement, you can expect State Farm to process and settle your car accident claim within two weeks (on average) after all the required documents have been signed and submitted.
State Farm won’t issue a settlement check until they receive the signed settlement release. Remember that the release will release State Farm and the driver for future claims related to your wreck. So, only sign if you are ready to close your case. The overall car accident lawsuit process varies from case to case.
Does State Farm have a limit on how much it will pay for a car accident claim?
Yes, State Farm does have a limit on how much they’ll pay for car accident claims.
The first “limit” is determined by the kind of coverage their driver has and the type of claim being made. The policy’s liability limits are the maximum amount that State Farm will pay for bodily injury or property damage caused by an accident.
The minimum required in Oklahoma is a “$25/50/25k” policy. If the State Farm driver has this policy, the most State Farm will pay per claimant is $25k, but limited to a total of $50k if there are multiple claimants and $25k for the property damage. State Farm does not have to disclose their insured’s “policy limits” unless a lawsuit has been filed.
Additionally, if your claim is for medical expenses or lost wages, other limits may be imposed on what State Farm can cover. I think it’s important to check with your policy and an agent to understand any restrictions that might apply in your particular case.
Does State Farm cover any rental car costs while my car is in the shop?
If you’ve been in a car accident and your car is being repaired, you may wonder if State Farm covers rental car costs. The answer is yes – State Farm usually covers renting a vehicle while your car is being repaired. They will limit the rental to a “reasonable” number of days.
Final Thoughts
You’ve reached the end of your State Farm car accident settlement journey! Now, you know how to report an accident and what to expect during the investigation. You also understand how settlements are valued, who their lawyers are, and why they’re more willing to go to trial.
It’s important to understand that filing a suit may not increase the settlement offer significantly. However, medical bills can be paid directly, and loans can be handled if the car is totaled.
Now, you have all of this information at your disposal to make informed decisions when dealing with State Farm car accidents. Congratulations on taking control of your situation, and good luck!