An Uber or Lyft accident can result in devastating injuries whether you are riding inside the Uber or the opposing vehicle.
These injuries can occur in a Lyft or Uber accident, just like in any other car accident.
However, when an Uber or Lyft vehicle is involved in a car crash, the company’s insurance policy might cover damages stemming from the accident.
This is important because Uber and Lyft carry insurance liability policies that significantly exceed minimum liability insurance requirements.
That means your potential settlement could increase.
After you file a lawsuit seeking compensation for your injuries, you might find yourself facing a stack of pressing financial obligations with no way to satisfy them.
That is where Uber accident lawsuit funding comes in.
An Uber or Lyft accident lawsuit loan gives you an advance on your settlement funds, so you can pay your bills and other expenses while you wait for your case to settle.
Can I Recover Damages After an Uber or Lyft Accident?
To recover in a personal injury claim, you need to prove that the at-fault driver caused the accident by acting negligently.
You must also show that you suffered damages as a result of the accident.
To establish negligence, you must prove that the at-fault driver did not act as a reasonable person would have acted under the same or similar circumstances.
If an Uber or Lyft driver is at-fault in an accident, the company’s insurance policy coverage typically pays the settlement.
However, it’s essential to understand that Uber’s insurance coverage depends on the status of the driver at the time of the accident.
The rules for Uber’s liability insurance coverage are as follows:
- If the driver was waiting for a ride request, Uber offers liability coverage of up to $50,000 per person and $100,000 per accident plus $25,000 in property damage.
- If the driver was on their way to pick up a passenger or was already carrying a passenger, liability insurance coverage increases to $1,000,000 plus certain other benefits.
Thus, claims against Uber or Lyft drivers can result in large settlements.
When Can I Use a Lawsuit Loan?
Lawsuit loans give plaintiffs an advance on their pending lawsuit settlement. Lawsuits can span several months, so many plaintiffs incur a lot of debt during that time.
This is especially true if you suffered severe injuries in the Uber accident. You might spend time in the hospital racking up high medical bills that you cannot ignore.
Alternatively, if you cannot work as a result of your injuries, a lawsuit loan can help cover your share of expenses while you are hurt.
Once you receive your lawsuit loan, you can spend it on any necessary expenses.
That might include:
- Rent payments,
- Utility bills,
- Groceries, and
- Car payments.
If you lose your case, you generally do not have to pay back the lawsuit loan. This is one way in which lawsuit loans differ from other types of loans.
Benefits of Lawsuit Loans
Lawsuit loans offer several benefits to plaintiffs who need financial assistance while they wait for their case to settle.
As stated above, an Uber accident can lead to a lot of unexpected expenses, such as:
- Medical bills,
- Rehabilitation costs,
- Vehicle repair costs, and
- Physical therapy bills.
These expenses can add up quickly, especially if you lose the ability to work after the accident.
Some insurance carriers will give you a lowball settlement offer, hoping you will accept it right away to satisfy your mounting obligations.
In other words, the insurance company will try to take advantage of the expenses piling up by tempting you with a quick settlement offer.
However, you might be entitled to a significantly larger settlement—and once you accept a small offer, you cannot go back for additional compensation no matter how much more your injuries end up costing you.
Getting a lawsuit loan allows you to satisfy your financial obligations without accepting a fast and unfair settlement.
It also gives your attorney more time to prepare a stronger case against the at-fault party. This can also result in larger settlement offers.
Thus, a lawsuit loan can help you in several ways. You can receive the funds you need to keep your head above water while giving your attorney the time they need to prepare the strongest case possible.
Contact Injury Wallet to Find a Lawsuit Loan for You
At Injury Wallet, we do not offer lawsuit loans for Uber or Lyft accidents. However, we can help connect plaintiffs with companies that offer lawsuit loans to fit their needs.
Injury Wallet can help you avoid the hassle, stress, and confusion of looking for your own lawsuit loan lender.
You just need to fill out our brief questionnaire, and we will find the lawsuit loan lender with the lowest loan rate.
Contact Injury Wallet today to get started.