After getting into a car accident, understanding how the value of your claim is determined is very crucial. Several factors influence the amount victims receive as compensation. The severity of injuries and the extent of damages can either lower or increase the settlement.
Victims need to know that the average settlement for a car accident varies depending on the nature of the incident. Keep reading to learn more about key factors used to determine the value of your car accident claim.
Nature of Injuries
The extent of your physical injuries affects your medical treatment and the compensation you can receive. Minor injuries that heal quickly, like bruises, result in lower claims. Serious injuries, on the other hand, like broken bones, TBI, and spinal cord injuries that could lead to permanent disability, can result to higher claims because of the long-term impact on your life.
Despite sustaining serious injuries, insurance companies may try to reduce the value of your claim. They can argue that everything was made worse because of pre-existing medical conditions. Proper records of conditions and new injuries from the accident can help strengthen your case. How severe your injuries are also helps in determining pain and suffering, as more serious injuries cause higher emotional distress and reduce quality of life.
Medical Expenses
The immediate and long-term medical costs help determine the value of your claim. These include:
- Emergency room visits
- Surgeries
- Prescription medicines
- Rehabilitation and future therapy
- Hospital stays
Victims should have documentation, including receipts, to show their paid costs. In some cases, experts must testify to estimate future expenses and long-term medical care.
Lost Wages
After an accident, victims may need to take time off work to recover from their injuries. Lost wages include the immediate loss of income because of the time away from work and reduced earning capacity. For instance, a permanent disability may mean that a victim cannot return to the same line of work, reducing the money they could earn.
To support these claims, victims must provide evidence such as:
- Tax returns
- Pay Stubs
- Letter from your employer showing missed time from work
The higher the impact on your ability to earn, the higher the compensation could be.
Liability and Fault
After an accident, the responsible and negligent person should compensate the other party. However, sometimes, the degree of fault can affect the compensation you receive. If the other party is fully responsible, the process will be simple.
If the investigation finds you partially responsible, the insurance company could reduce your claim based on your responsibility percentage. This is called comparative negligence. In some states, they use contributory negligence laws, which means you won’t receive compensation if you are found to be partially at fault.
Property Damage
The damage to your car is another factor determining the value of your car accident claim. They can also consider personal property inside the car. To determine the value of your car, insurance adjusters evaluate the costs of repairs. In some cases, excessive maintenance can result in a total loss settlement, where the insurance company will pay you the full value of your car.
The Type of Insurance Cover
The insurance of the at-fault driver is primarily used to settle the claim. However, the amount of coverage may limit how much you can recover, even if your damages are very high. You can use your insurance coverage if the driver is uninsured or underinsured.
Conclusion
There are so many factors that determine the value of your car accident claim. By fully understanding all these aspects and working with an experienced lawyer, you can ensure that you get fair compensation and justice you deserve.
