If you were recently involved in a car accident, you must be feeling overwhelmed because of the medical bills, the insurance claims and the emotional distress of the entire situation. Car accidents can happen at any time and when they do, you will start drowning in issues you never thought would affect you.
However, you can seek a car accident settlement that can reimburse you for all the losses you have incurred. Additionally, the settlement money can make up for physical trauma, lost wages, psychological trauma and also the replacement cost of your vehicle.
Where Does The Settlement Come From?
If you are the victim of a car accident, your insurance company and the other driver’s insurance will be responsible for compensating you for the damages. If you caused the crash and have collision coverage on your vehicle, the insurance company will cough up a certain amount to help fix your vehicle.
If the entire cost of repairing your vehicle will be more than the value of your vehicle, the insurance company will total the car and payout a lump sum depending on the value.
If the car accident was caused by the other driver’s negligence, his/her insurance company is in charge of paying for the losses, pain and suffering, damages and much more. However, the amount offered here might be a little less than your expectations. Note that, it’s challenging to put a fair price tag on your price and suffering.
Is Hiring A Lawyer A Good Idea?
Yes, working with a car accident lawyer is a good idea if you want to receive reasonable compensation. Actually, you might get a little more than what the insurance company would payout if you didn’t have representation. The attorney’s job would be presenting your case to a judge or the insurance company. It’s likely that the attorney will bring out a lot of facts that you might have missed previously.
The settlement for the repairs on your vehicle as well as your medical bills will be determined by the amount you paid. Your attorney should help with the negotiations to come up with a fair amount for your pain and suffering.
Remember, the insurance company will offer you the lowest possible amount for your pain and suffering. Basically, the insurance adjuster will be brought in to ascertain that you underwent unnecessary treatment for your injuries caused by the car accident.
Everything about the car accident needs to be properly documented and your attorney will help with that. Additionally, if a doctor can vouch for the missed workdays and the treatment received you should be able to recover the total amount of cash lost. If you need the maximum amount of compensation from the insurance company, you need to do more than submit the claim.
You don’t necessarily have to go through the court system to get a settlement for your car accident injuries. There are cases where the insurance company and attorney will reach a suitable agreement. There are a lot of factors that help determine the average settlement for a car accident. These include the type of injury, length of therapy, treatment plan, severity of the wreck and loss of income.
How Is The Car Accident Settlement Calculated?
There are numerous online calculators available online that can be used to determine the right amount of settlement you can receive from a car accident. Note that, there isn’t an exact formula used by the insurance company to calculate this amount. However, if the damage was only sustained by the vehicle, you will be reimbursed depending on the policy limits.
You will receive pain and suffering compensation if you have been injured as a result of the accident. That’s why it’s prudent to visit the doctor immediately even if you’re not sure that you’re hurt. To get a rough estimate of how much you can receive, you should add your medical bills plus the lost wages and finally the car repairs then multiply the amount by 3.
You will receive a higher settlement if you have received permanent or severe injuries. Also, you should get a higher payout if the other driver was driving under the influence. Basically, you need to move quickly if you have been involved in an accident.
You have about 2 years after the accident date to file the lawsuit. Hire a car accident attorney to work with you through the process for an effortless and successful compensation.