According to the Insurance Institute for Highway Safety and the Highway Loss Data Institute, about 40,901 persons died in car accidents in the United States in 2023. Car accidents involve added stress as a result of numerous medical and legal requirements, along with the added burden of financial issues.
When you have an accident that involves cars, you may be wondering how much money the incident could get you. The answer is never straightforward since an accident depends on your injuries, from the accident’s circumstances to the respective insurance policies.
Car accident lawyer Lee “Jody” Amedee III states that dealing with the messy legal and medical concerns following a car accident can be quite a headache. With assistance from an automobile accident attorney, accident victims will be able to win the compensation amount that they deserve and require.
There are different types of damages you can claim. Each of these claims is calculated differently. These major issues can greatly affect how one prepares to pursue compensation. Let’s discuss the elements that affect the possible amount of compensation you will be able to obtain following a car accident.
Factors Influencing Compensation Amounts
Several factors influence the compensation amount after a car accident. The severity and type of injuries will increase the claim amount. The circumstances also matter. Who was at fault can decide who undergoes liability.
According to Kingwood DUI lawyer Patrick Crowe, Esq., speaking with an attorney can help you identify how long your insurance may be impacted. The relevant insurance policies will seriously affect your payout. If the other driver has less insurance or no insurance, your compensation can be severely limited.
Since you cannot work, you should not forget to account for lost wages. The state laws of your area come into play in deciding your compensation, especially when it comes to settlement negotiations. In short, knowing the particular issues would help guide you and make you feel an important yet supported presence in the process.
Types of Damages You Can Claim
By being aware of the types of damages that you could claim in the event of a car accident, you can hope to maximize compensation. Most auto accident claims mainly deal with the pursuit of economic damages. Examples include reimbursement for hospital bills, car repairs, or actual expenses for lost income.
These tangible costs usually hold a direct economic effect on you and can be very well-documented.
Pain and suffering, emotional distress, and loss of enjoyment are all examples of non-economic damages. It’s hard to say how much these damages are worth, but they show how the accident harmed your health.
You will be able to get what you deserve when you know these categories.
The Role of Insurance Companies
Understanding how insurance companies operate while going through the aftermath of a car accident is necessary if you want to secure compensation. Insurance companies act as mediators working between you and your claims or payout.
After determining the amount of damage and liability for the accident, your lawyer will enter negotiations with the company. Your legal representative will try to secure a favorable settlement. Expect the process to be lengthy. Keep in mind that insurers are only there to implement guides and policies of the insurance company.
Be the one who proactively keeps beneficial records and clearly communicates your needs. Creating a pleasant rapport with the adjuster will be a good thing for you later.
You can receive fair compensation if you know how to ask questions and seek clarification.
How to Calculate Your Claim Value
You might get overwhelmed by how claim values are computed but understanding the associated elements can help ease the process.
Write down the medical expenses for settlement purposes. List the payments of all hospital bills, treatment, and rehabilitation costs.
Focus on your pain and suffering, which usually makes up the bulk of your claim. Relevant documentation may support your claims, such as hospital records and pay stubs.
Next, evaluate any property damage sustained by your vehicle. After gathering all this information, you would arrive at a ballpark figure for your claim value.
Understanding the distinction and uniqueness of each case will give you the necessary confidence to face them.
When to Consult a Legal Professional
Knowing when to consult an attorney can weigh so much on decisions concerning your car accident claim. In case you get injured or cause your car to be severely damaged, you should immediately contact an attorney for legal rights.
Seek advice from an attorney if you find the insurance company’s offer unsatisfactory or if there is a disagreement regarding liability. Consult a legal professional if you have any doubts or believe your legal rights are involved.
The lawyer is going to walk you through the negotiations and limit any possibilities for you to be taken advantage of. In any case, you will never go wrong with having someone on your side who knows the ins and outs of the system. A lawyer’s assistance takes off great amounts of stress about the outcome and increases favorable opportunities.