Predicting Your Auto Accident Settlement
Posted on: 18 March 2022
You may be owed compensation after an accident. When another driver causes a wreck and you are injured, they may owe you a lot more than their insurance company will offer. To help you understand how important it is to be paid what you should, review the main things that go into your compensation.
Settlements: The Basics
A settlement means that you are paid soon after an accident rather than waiting for a court case. Almost all vehicle accidents settle out of court and your case can too. It's important, though that you don't get taken advantage of by the at-fault driver's insurance company. They may not offer you as much as you should get. The best way to know that you are being paid the right amount is to speak to a personal injury lawyer about your accident, your medical expenses, and your losses. Your lawyer will contact the other driver's insurance company and negotiate with them to get you what you deserve. Below, find out what to expect in terms of your damages and what you are owed.
Damages After an Accident
Damages are more than your wrecked vehicle, although that is a form of damage too. Other types of damage include your medical bills and that is the case even if the insurer pays them. You may also be entitled to things like a rental car to use while your vehicle is being repaired, reimbursement for lost wages from your job, and pain and suffering because of your physical injuries and the misery caused.
What Are You Owed?
To find out how much you should be paid for your damages, your personal injury lawyer will add up all the above and you both will agree on a figure. Your medical expenses, lost wages, and transportation-related damages are in one category. The other category contains pain and suffering. This can be calculated by multiplying your medical expenses by a number, one that can vary from place to place depending on various factors. Ask your lawyer how your pain and suffering are added up to find out more.
Adding (and multiplying) those damages will give you an idea of what you may be owed but there are a few more factors to consider. Your age, your salary, your level of disability, and common settlements for similar situations in your area can all go into the calculation for a settlement.
Speak to an auto accident lawyer before you accidentally accept a settlement that is less than you deserve.
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