Car accidents injuries, deaths, and property damages are very costly. It is estimated that the cost of car accidents was over $200 billion in the first six months of 2020. If you have been in a car accident, you probably have to deal with insurance payments, medical bills, lost wages, and emotional, or psychological distress.
Several car accident victims sue for personal injury and more to help them deal with the financial burden that results from car accidents. Car accident settlements reimburse victims for the money they have used or lost because of the accident.
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Hire a Car Accident Lawyer
Car accident lawsuits are some of the most common cases in the United States. These cases are also mostly settled out of court. If you have been involved in a car wreck and the at-fault driver or insurance should be compensating you for the injuries and damages, you need to hire a professional lawyer to help you handle the claim.
Car accident lawyers work with victims to help them with their personal injury claims. A lawyer will help you negotiate the right settlement amount that you deserve and also ensure that you do not make any mistakes that can affect your claim. A lawyer, who is familiar with a car accident or personal injury claims, will ensure that they do not miss any information or detail.
The right auto accident attorney will negotiate your settlement with the at-fault insurance to help you recover the money that you have lost. Should you go to court, you will also have the right legal representation that you need.
How Much You Should Expect from the Settlement
To determine how much settlement you should receive, your lawyer will calculate the total cost of the damages and injuries you sustained. This includes the following:
- Damage to your car
- Medical bills
- Lost wages or contracts
- Loss of limbs/ permanent injuries
- Emotional distress
- Funeral expenses
- Loss of consortium
- And more
Though it is easy to calculate how much you should get for medical bills, property damages, and lost wages, it is more challenging to determine the average settlement for the pain, suffering, loss of a loved one, psychological, or emotional distress.
How to Estimate Settlement Amount
There is no exact formula for calculating the exact car accident settlement amount. To get an estimate of what to expect from medical bills, lost wages, and property damages, multiply the total amount of the money you lost or used by three.
To know how much you can be compensated for pain and suffering, you will need to see a medical professional to help determine what category your pain and suffering falls under. Insurance adjusters and lawyers use this information to know if you have a valid claim and how much to offer you.
Lawyers and insurance companies use the multiplier method to calculate pain and suffering. Your lawyer will calculate and negotiate the best settlement possible with the insurance company.
You could have a higher claim if the accident caused a permanent injury that will change your life from how it was before the accident. Remember, every state has different laws and statutes of limitations for car accident claims. Therefore, find out the laws of your state and try to file your claim in good time, and work with a lawyer to help you through the process.
Hire a Lawyer when Dealing with a Car Accident Claim
Contact a good lawyer immediately after you have been in a car accident. This will help minimize mistakes that can negatively affect your claim and maximize the compensation that you should get.