If the unavoidable occurs and you find yourself involved in a car accident where the other driver was at fault, you will want to file a personal injury claim against the defendant. You will also want to hire a personal injury lawyer. While determining the real value of a car accident case is never easy, certain factors do play a large role in determining the final number.
Car accident cases are not cut and dry
Your personal injury lawyer in Hesperia & Antioch will tell you that car accident cases are not cut and dry because there is no set formula insurance adjusters can use to arrive at an immediate and constant figure. This is because many factors influence the final dollar value of a personal injury claim in the event of a car accident. You need to know about these factors which are:
● Car insurance coverage and policy limits
● Vehicle damage
● Medical expenses
● Lost income/earning capacity
● Pain and suffering
● Loss of companionship or enjoyment
Car insurance coverage and policy limits
Any car insurance policy has a coverage limit. Your personal injury lawyer knows that is a major deciding factor in calculating your final settlement. This is because you will likely receive a settlement that corresponds to the other party’s insurance policy limits.
The extent of damage to your car is converted into dollars and calculated. Personal injury lawyers know that this figure plays a crucial role in determining the final value of your personal injury claim. If your car sustained only minor scratches, expect the insurance adjuster to calculate a lower settlement claiming that your car was not severely damaged, therefore you couldn’t have sustained substantial and/or serious property damage and/or bodily injuries.
All expenses related to your car accident will be considered when calculating the final settlement. This includes follow-up visits to the doctor and rehab therapy. This will be especially true when the insurance adjuster calculates the total amount of your pain and suffering.
Lost income/earning capacity
Any income you have had to forego and any future income you will lose will be factored in when calculating your final settlement amount.
Pain and suffering
This includes any physical injuries or suffering and any mental injuries or suffering you have sustained because of the accident. Good examples are a broken ankle or severe depression. This plays a huge role in calculating your final settlement. Since these injuries are hard to quantify, insurance adjusters tend to use the multiplier value when calculating the final settlement amount. They take a figure like 1.5 or 3 and multiply it by your total medical bills.
Loss of companionship or enjoyment
You will suffer from loss of companionship or enjoyment if a loved one is severely injured or killed in a car accident. The impact of the relationship plays a key role in determining the dollar value of the final settlement. The spouse is the only person who will get the settlement amount. This occurs only if the plaintiff wins his or her case in court. Loss of enjoyment injuries include those that keep you from partaking in the activities you used to before your car accident.
Your conduct will partially determine the final settlement amount. Your personal injury lawyer will tell you that your settlement amount will be dramatically reduced if you were even slightly responsible for the accident. Many factors influence the final value of your settlement. Now that you know how your final settlement is calculated, you can’t afford not to hire a personal injury lawyer.