As a car accident victim, you have legal rights and options. Among these, you may have the right to pursue fair financial compensation for your accident-related injuries and losses. When you file a compensation claim, you may have many questions, one of the most important being, “How much can I expect from my settlement?”
The answer is “it depends.” Claim settlements vary greatly by person and case. Fortunately, a Waterbury car accident lawyer can help protect your rights and efficiently handle your case to get you the best possible case result.
Car Accident Settlements: Insurance Claim vs. Lawsuit
Generally, after a car accident, you can pursue monetary recovery in two ways: an insurance claim or a personal injury lawsuit. Some situations only involve one, while others may require both. Regardless of your path toward compensation, settlement is possible for both.
First and foremost, you may pursue compensation through a car accident claim. If your collision occurred in a state that follows fault rules, you can file a third-party claim against the at-fault driver’s insurance. On the other hand, if you are in a no-fault state, you can file a first-party claim through your personal injury protection (PIP) insurance.
Once you’ve filed your claim, the insurance company can investigate your accident and determine whether to approve or deny your claim. If the insurance company approves your claim, it offers a settlement amount that reflects what it believes your claim is worth.
You can accept or try to negotiate a better settlement depending on the dollar amount. Sometimes, a collision claim is all you need to get proper financial recovery.
Should you receive a claim denial, need additional compensation, or if the insurance company is unwilling to settle fairly, you may need to file a personal injury lawsuit.
The lawsuit process is more involved than that for a collision claim, so have a skilled attorney handle your case. Many personal injury cases reach the settlement phase, making court unnecessary.
Whether you can settle with the insurance company during the claims process or you need to enlist the help of the court, a car accident attorney can fight for your rights to a just settlement that accurately reflects your losses.
Is There an Average Car Accident Settlement?
When you suffer an injury in a car accident and file a compensation claim, it’s natural to want to know what you can expect. Many collision victims want to know an average of what they can anticipate receiving in the settlement. However, you’ll unlikely receive a straightforward answer for car accident cases.
Every case is unique; no two situations are the same. Because settlement amounts heavily rely on the accident details, including your injuries and the total amount of your financial losses, a lawyer cannot tell you how much you can expect to receive at the outset of your case. Additionally, as your case proceeds, changes may influence the value of your claim.
When you consult a car accident attorney, they can explain the factors that will affect how much your case might recover based on their opinions and experience.
Compensation Available in Collision Cases
As mentioned, every collision claim is different. You may receive damages based on the specifics of your situation, including:
Past and Future Medical Expenses
Medical expenses often make up the bulk of your compensation claim. Depending on the injuries you suffer and the severity of these injuries, you may need extensive, costly medical treatment.
Through your claim, you can pursue compensation for your accident-related medical expenses. You can also seek financial recovery to cover those costs if you require additional care. Your car accident lawyer can calculate the value of your future medical expenses to help ensure you get a fair amount.
Lost Earnings
After your auto collision, you may need to take some time off work to focus on your physical recovery. If you have paid time off, that eventually runs out, leaving you without an income.
This can significantly add to the stress you’re likely already experiencing as you try to make ends meet and continue to provide for your family.
Fortunately, you can pursue your lost income for days missed due to your car crash. Your attorney can gather evidence to show the value of your lost earnings to ensure a favorable settlement.
Diminished Earning Capacity
When injuries are serious, even after recovery, you may never again work in the same capacity you once did. You might have to search for a new position within your company or change your occupation altogether. You can seek damages for your diminished earning capacity through your compensation claim.
If your injuries leave you unable to work, you can pursue damages for lost earning capacity.
Property Damage
Your vehicle may suffer damage in your collision. In more severe accidents, the insurance company may declare your car a total loss. You can seek compensation to cover the value of the property damage caused by your car crash.
Pain and Suffering
Pain and suffering damages encompass the physical pain and emotional suffering you’ve had to endure as a result of your auto accident. These subjective damages fall under non-economic damages and require strong evidence to prove.
Scarring and Disfigurement
If you’re left to face serious scarring and disfigurement caused by your accident injuries, you can seek financial recovery. The value of these damages depends on certain details, including the severity of the scarring and disfigurement, the visibility, and how it affects your daily life.
Loss of Enjoyment of Life
Loss of enjoyment of life damages are another common type of non-economic damage. These damages represent the unfortunate changes you may experience following your collision, including damage to your ability to enjoy activities you once did.
Factors that Affect How Much Your Claim Is Worth
To help ensure you get the best possible settlement, you must assess your claim to determine the damages you can pursue and how much your case is truly worth. Doing so requires evaluating the following factors, as they play a substantial role in the monetary value of your case.
The Severity of Your Injuries
The seriousness of your injuries is one of the most important details in determining the value of your accident claim. The more severe your injuries, the more treatment you’ll require and the more the crash may affect your life.
Therefore, a case involving extensive injuries, such as head injuries, burns, or spinal cord injuries, is usually valued higher.
The Total Cost of Your Treatment
One of the primary objectives of filing a compensation claim after an accident is obtaining monetary assistance for your treatment. You shouldn’t have to carry the financial burdens of expensive medical care alone, especially if you didn’t cause your car collision.
Medical bills serve as evidence to determine the total cost of your treatment. As you progress through your treatment plan, costs will rise, so you may need to wait to get a better picture of your total medical expenses. Evaluating your care costs too early in your claim can result in inadequate compensation.
Whether You’ll Require Medical Care in the Future
Some accident victims can recover from their injuries in a few weeks. However, if your injuries are more serious, you may need medical treatment well into the future. The more healthcare you need for your collision injuries, the more financial recovery you’ll require.
Your Lost Income From Time Missed at Work
If you need to take time off from work because of your injuries, your case can be worth more. Your car accident lawyer can use documentation exhibiting your lost earnings to pursue monetary recovery.
Mental and Emotional Impacts of Your Car Crash
The impact of a car accident may go far beyond the physical. Some accident victims develop mental health issues, including anxiety, depression, or PTSD. If your collision affects you in these ways, you can seek additional compensation to cover related monetary and non-monetary losses.
Insurance Policy Limits
Car insurance companies don’t have unlimited money to give – it depends on policy limits. Insurance limits dictate how much money you can obtain from the insurance company following your collision. Should these limits not cover your losses, you can file a lawsuit against the at-fault party for additional compensation.
Communications With the Insurance Company
Before you file an insurance claim, you need to understand how insurance companies operate.
Insurance companies are in the business of making and keeping their money. Therefore, they won’t pay out blindly when you file a claim. Instead, they’ll employ tactics to harm your claim and benefit themselves.
Watch how you communicate with the insurance company because it will use what you say and how you say it against you. For example, the insurer may request a recorded statement allowing you to give your side of the story. Deny the request; they’re just fishing for something they can use to hurt your claim.
Unfortunately, falling into one or more of the insurance company’s traps can diminish the value of your claim. For this reason, having a car accident attorney handle your claim is crucial to avoid potential issues.
Maximizing the Value of Your Car Accident Claim
What you do following a car accident matters. Your actions can help you protect your rights and get the most out of your compensation claim. The following can greatly assist you in your pursuit of just financial recovery.
Seek Prompt Medical Care
No matter what, make your physical health your priority. Consequently, never wait to seek medical attention after a collision. Even if you don’t initially believe you suffered any serious injury, it’s best to submit to a complete examination by a medical provider.
Your medical records matter for the value of your claim. When you fail to get medical attention after an auto collision, this can communicate to the insurance company that you didn’t suffer any harm, which can harm your eventual settlement.
Aim to strengthen your medical records. Seek medical care after your car crash and follow through with your treatment.
Promptly Report Your Collision
After an accident, you should notify law enforcement. In many states, reporting your collision to the police is the law, especially if the accident involves injuries and property damage.
When you report your crash, police officers can gather essential information and create a police report, which your lawyer can use as evidence to substantiate your claims.
Additionally, you must notify your insurance company about your accident. Depending on your policy details, you may have a certain number of days to report the collision, or you must notify the insurer within a reasonable time. Failing to report your accident timely can hurt your claim.
Hire a Car Accident Attorney as Quickly as Possible
One of the best steps following an auto collision is to consult a car accident lawyer. The days after a car crash can confuse you, but an attorney can shed some light on the situation and provide much-needed guidance and advice.
Time is limited to take action after a crash, and you don’t want to miss your opportunity to recover financially for your losses. The sooner you hire a car accident lawyer, the quicker they can begin working on your case.
Pursuing Just Compensation with a Skilled Accident Lawyer
Following a collision, it might be difficult not to know exactly what you can expect from your car accident settlement. Still, when you put your case in the hands of a seasoned accident attorney, you can feel confident knowing they will do everything necessary to get you the most advantageous outcome.
Working with a Waterbury personal injury lawyer can yield skilled results and allow you to obtain the compensation you need and deserve.
