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How Much Money Do You Get from a Car Accident Settlement?

by | Dec 27, 2021 | Car Accidents

ATTORNEYS IN COLORADO SPRINGS FOR CAR ACCIDENT SETTLEMENT

If you are injured in an car accident, you may be able to file a lawsuit against the persons at fault. You may be able to collect damages by filing an insurance claim or a lawsuit. Every instance, however, is unique. The amount of money you get from a car accident settlement is determined by the circumstances of the event and the severity of your injuries.

Car accidents may vary from simple mishaps to fatal multi-car collisions. An car accident lawyer can assist you in recovering compensation for your injuries and damages, regardless of the circumstances.

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HOW YOUR INJURIES AFFECT THE SETTLEMENT AMOUNT

After a car accident, several variables might influence the amount of any settlement you seek for your injuries and other losses. The nature and severity of your injuries, in particular, may have a significant influence on your settlement. A broken wrist, for example, may result in some medical expenditures for a short time, but a spinal injury may need months or even years of rehabilitation and medical treatment.

The long-term nature of your injuries will also influence your settlement. Your settlement amount will likely be smaller if your physicians anticipate completely recovering from your injuries rather than if you have a lifelong impairment or deformity. Similarly, medical expenditures for severe and permanent injuries are frequently greater than for small and temporary injuries.

OTHER FACTORS THAT INFLUENCE YOUR CAR ACCIDENT SETTLEMENT

In whatever settlement you seek after a car accident, the effect of your injuries on your capacity to work is also an important element. For example, you may lose income while recovering and healing from your injuries.

Still, if your disabilities are permanent, you may not be able to return to your old employment or professional sector. This might result in a loss of current and future earnings.

Other variables that might influence the size of your car accident settlement include:

  • Your age and medical background
  • How long did you wait after the accident to seek medical help?
  • The events that lead up to the accident
  • The level of carelessness or recklessness that resulted in the accident
  • Insurance companies may limit the value of your claim by citing gaps in treatment or pre-existing conditions.

All car accidents have varying effects on victims; an injury that is debilitating to one person may not be to another, depending on their circumstances before and after the crash. As a result, even though personal injury cases are identical, each may play out differently. A comprehensive investigation is the only way to determine how much your case is worth.

COMPENSATION IN A CAR ACCIDENT CASE FOR PERSONAL INJURY

Your settlement should cover all of your damages, both financial and non-financial, as a consequence of the car accident. While not everyone suffers identical losses, most car accident victims suffer from at least some of the following injuries and losses.

#1. MEDICAL EXPENSES

Injuries sustained in a car collision are likely to result in medical expenditures. Hospitalization, diagnostic tests, surgery, rehabilitation, and medical visits can add up. You may also be able to claim damages for the expected expenses of future medical treatment linked to your injuries if you need it in the future.

Other medical expenses might include:

These costs may be continuing if your injuries are severe or persistent. For example, if you want to live at home with a lifelong handicap, you may permanently require home health or personal care.

#2. PROPERTY DAMAGE

Whether you were a driver or a passenger at the time of the accident, your car may have suffered considerable damage. Consequently, as part of your car accident compensation, you may be eligible to recover the cost of repairing or replacing your car.

#3. INCOME LOSS

If you need to take time off work to heal from your injuries, make sure your settlement accounts for your lost wages.

Furthermore, suppose your injuries result in a permanent handicap that prohibits you from returning to your previous employment or prevents you from working at all. In that case, you may be eligible to file a claim for lost future earnings. Your injuries might potentially cause you to lose your earning ability in the future.

#4. SUFFERING AND PAIN

Physical pain and suffering that you encounter due to an accident is a frequent non-economic type of compensation. Some injuries are significantly more difficult to heal from and rehabilitate than others. Although putting a specific price number on these losses might be difficult, they can be as, if not more, distressing than economic losses.

#5: EMOTIONAL ANXIETY

Trauma from a serious car accident might leave you with nightmares, post-traumatic stress disorder (PTSD), and dread of driving. Some of this emotional anguish may have a long-term impact on your life, making it a potentially compensable item in your car accident compensation.

#6. DISFIGUREMENT AND PERMANENT SCARRING

Some injuries leave lifelong scars and deformities, necessitating further surgery and therapy. These physical changes may be distressing, and they can contribute to your emotional stress. As a result, you may be entitled to compensation for these losses as part of your settlement.

#7. PERMANENT ILLNESS

If you are permanently disabled or impaired due to a car accident, you may be forced to give up personal pursuits and pastimes that you formerly enjoyed. The permanence of your impairment may have a significant impact on your capacity to enjoy life and alter your plans. These modifications also make it possible for you to seek compensation in the event of an car accident.

IN A WRONGFUL DEATH CAR ACCIDENT CASE, THERE ARE MANY DIFFERENT TYPES OF COMPENSATION

Suppose an car accident causes the death of a loved one. In that case, the surviving family members have the right to file a wrongful death lawsuit against the parties responsible for the accident. Wrongful death cases are different from personal injury claims originating from car accidents in terms of the sorts of compensation available.

#1. FINANCIAL SUPPORT AND INHERITANCE HAVE BEEN TAKEN AWAY

Eligible family members may file a wrongful death lawsuit to recover the financial assistance that their dead loved one would have supplied. They may also seek monetary compensation for the inheritance they would have received if the wrongful death had not happened.

#2. SERVICE, CARE, MAINTENANCE, SUPPORT, AND COUNSELING LOSSES

Surviving dependent children and spouses may claim damages for loss of services, care, maintenance, support, and counsel as part of their car accident settlement. If the dead individual supplied them with these types of assistance before their death, these are losses that may be compensated in a wrongful death lawsuit.

#3. LOSS OF LOVE AND COMPANIONSHIP

Similarly, surviving family members may seek compensation for the loss of companionship of their loved ones via car accident settlements. Children may lose their parents, who are meant to guide them throughout their childhoods, and spouses may lose their longtime friends.

#4. SUFFERING AND MENTAL PAIN

The loss of a loved one is likely to cause substantial mental agony, sorrow, and sadness to those left behind. These family members are also entitled to compensation for their losses.

#5: THE PRICE OF A FUNERAL AND BURIAL

Funeral and burial services are often exorbitantly priced. For those who are left behind, these unanticipated bills may be crushing. These unplanned expenditures for surviving family members may be included in the amount of money you get from a car accident settlement.

PUNITIVE DAMAGES IN CAR ACCIDENTS

Punitive damages are another harm that may be included in an car accident settlement. Unlike other types of compensation, these damages are intended to punish wrongdoers rather than pay victims for their harms. Punitive damages are also intended to dissuade others from doing similar acts of wrongdoing that cause harm to others.

Punitive damages are thus generally only included in settlements in the most egregious and severe examples of carelessness or recklessness. A punitive damages judgment can be appropriate in a car accident case involving a drunk driver or a speeding motorist who causes serious or fatal injury to others.

NEGOTIATING A REASONABLE CAR ACCIDENT SETTLEMENT

Long before you ever see a courtroom, most car accident lawsuits finish in a settlement with the insurance company. Consequently, you may anticipate your car accident lawyers to spend a significant amount of time negotiating with the insurance company to negotiate a comprehensive and just settlement. In a car accident lawsuit, sharing information and evidence is critical to a successful settlement.

PROOF TO BACK UP YOUR LOSSES

Your car accident lawyers will begin collecting evidence as soon as possible to support your claim for damages.

The following are examples of the many types of evidence they may gather in your case:

  • Medical expenses
  • Medical records as well as professional medical advice
  • Photographs and schematics of the site of the accident
  • Information from the police
  • Testimony of witnesses
  • Reports on accident reconstruction
  • Work and educational history
  • Estimates of car maintenance and replacement costs

They’ll certainly want you to provide a thorough explanation of how your injuries have impacted your life since the accident.

This report may include the difficulties you have in carrying out your everyday tasks, your ability to follow hobbies you used to love, and your ability to return to work in your chosen profession. These comments may have a significant impact on the settlement amount you are eligible for in a car accident lawsuit. Your remarks have an impact!

INSURANCE COMPANIES TO DEAL WITH

Insurance companies are not in business to reimburse you for your injuries; they are in business to earn a profit. The insurance adjuster’s ultimate purpose is to reject or pay as little as possible on your claim.

As a result, insurance firms may use the following strategies to prevent reaching a fair settlement:

  • Request that you provide a recorded statement that they may use against you later.
  • Make a settlement offer before you get a definitive medical diagnosis.
  • Encourage you to sign a rapid settlement so that they are not held liable if your injuries worsen.
  • Pretend to be sympathetic to make you feel they are on your side.

Keep in mind that the first settlement offer in your case is likely to be extremely low and not accurately reflect the worth of your injuries.

The insurance company is hoping to persuade you to sign a fast and painless settlement and waiver of your claim so that you won’t be able to file a claim for more damages in the future. These deals are rarely in your best interests. As a result, you should never sign anything without first seeking legal guidance.

A car accident lawyer can help you negotiate with the insurance company and get the proof you need to back up your claim. You and your lawyer may work together to reach a fair settlement in your case that reflects the true cost of your losses.

FOR ASSISTANCE, CONTACT A CAR ACCIDENT LAWYER NOW.

Understanding the amount of money you will get from a car accident settlement is just one part of your claim. If you want to understand every stage of the injury claims procedure from beginning to end, you should get legal guidance from a car accident lawyer. They can assess your position, respond to your queries, and explain how to help you with your legal issues.

While you concentrate on healing from your injuries after a car accident, your attorney can handle the legal concerns. The best way to maximize your car accident settlement payout is to hire a good lawyer. With a free consultation, you can learn more right now.

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