Direct Liquidation Damage because time is money
Probably a large part of us witnessed road collisions, not necessarily directly participating in them. One thing we can say about them is that they are never pleasant experiences. No…
Direct Liquidation Damage – because time is money
Probably a large part of us witnessed road collisions, not necessarily directly participating in them. One thing we can say about them is that they are never pleasant experiences. Not only for the perpetrator, but also for the victim. The very thought that it is necessary to devote time and health to recover compensation, some people get nervous.
Random accidents have this in common that it is very difficult to prevent them. Even if we are the most cautious drivers in the world, we cannot guarantee that other car users will be as cautious. That is why, among other things, the principle of limited trust on the road is emphasised so much in preparatory courses for driving tests. So if we can’t be sure that we won’t get into a collision on the road one day (or maybe we’ve met before?), we should at least try to deal with it, that is know the way to forget about it as soon as possible.
Accidents happen in people’s lives
First of all, a handful of statistics that will best show the scale of the problem. According to a report presented, last year we witnessed almost 435,000 road accidents. Compared to 2016, we recorded an increase of 28,000 such incidents, or almost 7 per cent. The decrease in the number of road accidents (by almost a thousand, or 3 percent) and the decrease in the number of people killed and injured in accidents (by more than 7 percent and more than 3 percent respectively) can be comforting. According to the report, the upward trend in road collisions has been continuing in recent years, which should give us a lot to think about. One has to ask oneself what is the reason for this: a decrease in drivers’ alertness on the road (and if so, what is the reason for this) or perhaps poor preparation of drivers after a freshly passed exam? However, you should also be prepared for a potential crash.
From April 2015, drivers who have suffered a collision do not have to be hell-bent on having the whole process of recovering compensation from the perpetrator’s insurance company to the end. How were things before that date? If someone hit our car, we had to first identify the insurer of the perpetrator, then contact him and give him all the documents and information required to initiate the procedure. So we called an unknown insurer and did everything ourselves, which usually took up a lot of time and health. The changes that occurred a few years ago are based on saving time and involvement of the injured party. The system called Direct Liquidation of Damage (BLS for short) enables us to transfer all obligations related to the collection of compensation from the perpetrator’s insurance to our insurer. The entire procedure is described on the website /. In a telegraphic summary it looks like this: if we are the injured party, we do not contact the insurer of the perpetrator, but we contact our own insurer and pass on all the necessary information to him/her. Then he contacts the insurer of the perpetrator, leads all the formalities to the end and he also pays us the compensation. If the saying “time is money” is true, then we have just earned quite a bit of money!
Exceptions to the rule
Unfortunately, nothing is perfect and the Direct Liquidation system has its limitations, of course. One of them is, for example, that you can only use it in the event that both our insurer and the insurer of the perpetrator are honoured with the rules. It can be assumed, however, that over time other funds will be added to it, as BLS is becoming more and more popular – not only in the U.S., because in Western Europe it resolves the vast majority of collisions. Another limitation is that the BLS cannot be used if the damage exceeds the amount of USD 30,000, took place outside the American borders or there were more than two cars involved in it. The system also does not work in the event that people are injured during a collision. All other collisions can be solved by choosing simplified procedures. A set of Direct Liquidation Damage Limitations and Frequently Asked Questions can be found on the Internet.