If you’re pursuing a car accident claim, the traffic accident report can make or break your case. For legal funding underwriters, it’s the first case document they look at. Read below for a brief guide to traffic accident reports and legal funding.
The reason traffic accident reports hold so much weight for legal funders is that they provide a lot of information about your accident.
First, it helps establish liability.
Legal Funding Companies Want to Know Who Caused the Traffic Accident
When legal funding companies look at the police report, the first thing they’ll do is look at the crash description.
If it is possible to determine, the police report tells us who caused the crash and how it happened. Ideally, underwriters want to see a clear description of the accident, and they want to see that another driver was at full fault.
If a full description is not available, sometimes a diagram can help. A crash diagram that implies fault can often be enough for a legal funding company to make a decision.
The Type of Vehicle That Hit You Matters
An accident report will tell a legal funding company if the car that hit you was commercial or private.
Commercial cars usually have larger policies than private cars. Even if limits aren’t known, legal funding firms assume there is enough coverage with a commercial policy.
Funders also avoid cases with claims against certain insurers. While some insurance companies settle fast, others fight every case tooth and nail.
Involved Parties and Passengers
Given how insurance policies work, the fewer passengers and the less accumulated damages to other parties the better.
If it is clear that the other vehicle was at fault, but you have many injured passengers in your vehicle, legal funding companies may not fund unless there is a large policy.
The best way to think about this is that you are sharing the policy with all other involved parties.
Other Traffic Accident Report Factors That Affect Legal Funding
Before providing legal funding, companies also look at several other factors such as:
- Accident location – legal funding companies are regulated in some states. If you live in or had an accident in a certain state, a funder may avoid funding your case or have certain restrictions.
- Weather and other environmental factors – heavy weather can affect your case. Most statutes involve what a reasonable driver would do given current road conditions. Even if you are under the speed limit, an officer can cite you for high speed in poor conditions.
- Seatbelt use – if the officer cites anyone for seat-belt non-use, it’s possible the offending party shares some liability.
- Any citations – even if the other driver was at fault, it is possible you could be cited for speeding, faulty brake lights, etc. Any citation against you can hurt your case and legal funding prospects
Uplift Legal Funding
In addition to funding car accidents, Uplift Legal Funding provides pre-settlement funding on many other personal injury cases.
To learn more, see our breakdown of how legal funding works.