AMICABLE SETTLEMENT – DISADVANTAGES

It is well known that in the event of a traffic accident, insurance companies, for their own reasons, propose and promote the process of amicable settlement. However, it should be noted that, unlike legal claims for compensation, the amicable settlement process is not beneficial but, on the contrary, in most cases, it harms the rights of the injured party, given that, in reality, this process proves to be inadequate or ineffective, while at the same time presenting significant disadvantages, since:

It does not cover several financial claims, such as medical expenses, car rental or taxi fares, reduction in the commercial value of a car, loss of income, moral damage, etc.

It does not cover material damage exceeding €6,500 and bodily injury exceeding the maximum limit of €12,000.

More specifically:

Firstly, the amicable settlement procedure does not cover or guarantee several significant, entirely real and perfectly reasonable financial claims, which in most cases are quite substantial, such as:
The total cost of medical treatment and care required for the full recovery of the driver and/or passenger from the traffic accident.
The costs of renting another car by the victim and/or his family for the entire period until the complete repair of the material damaged to the vehicle involved in the accident.
The costs of using a taxi or other alternative private means of transport by the victim and/or members of his/her family for their daily travel needs, for the entire period until the vehicle is fully repaired.
The reduction in the material/commercial value of the vehicle involved in the collision.
The remuneration and expenses of the person or persons hired for the daily care of the injured driver and/or passenger.
Most other material and non-material damages, as well as lost income, which both the victim and his family have been deprived of and continue to be deprived of as a result of the traffic accident.
Secondly, in the amicable settlement process, the amounts paid as compensation to the victims do not exceed specific maximum limits in each case: To be precise, in every case of amicable settlement, provided that it is completed, the compensation paid each time to cover all material damages does not necessarily exceed the maximum limit of €6,500, while the compensation paid as compensation for any bodily injury shall not exceed the maximum limit of €12,000 for each injured person and a total maximum limit of €30,000 per accident.

What are the advantages of legal action in the event of a traffic accident? (read HERE)

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