Whether you can get enough money for your car accident injuries depends on you and what you do at the outset of the legal process. Insurance companies have an entire apparatus to protect their financial interests at your expense. They have technology, lawyers, and adjusters whose job is to tell an alternate version of your reality and use it to cost you money.
The only way to learn the answer to the question of how much to seek in a car accident settlement is to hire an experienced San Antonio car accident lawyer. You need guidance to estimate the value of your case, and you want to avoid signing away your legal rights in a settlement agreement that does not fairly pay you. Calling an attorney at the beginning of your car accident case is the best way to counteract the insurance company and what it is known for doing.
Never Focus on an Average Car Accident Settlement Number
Refrain from getting hung up on what others may have claimed to receive in compensation for their car accident injuries. One of the first questions you may have researched is the average settlement for specific injuries. Try to drop that mindset because focusing on this number will not benefit you. It may even cost you money because your case can be worth far more than a typical settlement.
When you see numbers represented to be an average in your case, you do not know the following facts:
- How much coverage the responsible driver had
- Whether the injured driver in the case had underinsured motorist coverage and how much they had
- Whether the injured driver had an attorney who boldly and continuously fought for their legal rights
- The impact that the car accident injuries had on the individual claimant in the case
- How hard the individual claimant fought to get what they deserved and whether they held out for a settlement that fully and fairly paid them
Without the above information, you cannot put each settlement into perspective and compare one against another. Perhaps the most important factor that might affect average settlement amounts is whether claimants hire car accident attorneys or not. Those who fail to seek legal representation might significantly bring down the average, as they regularly accept much lower settlement offers than claimants with car accident lawyers.
Your Settlement Should Be Dependent on Your Specific Injuries
One fundamental principle to remember is that your car accident settlement is unique, and someone else’s situation and injuries may differ from yours. Hypothetically, even if you and someone else suffered the same type of broken leg in a car accident, there will be numerous ways in which the effect on you may be different. Your car accident leg injury can be worth far more than someone else’s, even if you suffered the same damage with a similar recovery time.
Before you can even file a claim, you need to understand the nature of car accident damages and why your case is worth what it is. You need to know the legal principles at work to avoid being at a pronounced disadvantage to the insurance company.
How Economic Damages Work in a Car Accident Settlement
Economic damages are the first thing you will receive compensation for in a car accident settlement, representing the actual financial costs of your injuries. There are many reasons why two different claimants may have distinct economic damages.
The first part of your economic damages is your medical expenses. The responsible driver must compensate you for the money spent in the past and your future medical expenses. If your health insurance company has already laid out payment for your care, it will have a lien against your settlement and has the right to get paid for exactly what it spent. Similarly, you will receive reimbursement for your deductibles and cost share that you have already paid. In the future, your settlement funds will be the exclusive way to pay for the health care costs associated with your car accident injuries, so you must ensure you get enough money.
Then, you will also get paid for property damage. Again, this element of your economic damages will vary based on the value of your vehicle and what happened to it in the crash. One insurance company may try to declare the car a total loss, while another may pay for repairs. Property damage matters are often separate from the rest of the claim.
Lost Income is a Large Part of Your Economic Damages
Lost income is also a significant part of your car accident settlement. Your injuries may have left you unable to work for some time, or you can no longer do the same work that you did before the accident. If you have suffered severe injuries, you may never work again.
Regardless, the driver responsible for the accident must pay you for all the money you could have earned from work but did not. This obligation extends to past and future earnings, so they must pay you based on your career path if you never suffered an injury in the accident. Lost income is often subject to a significant dispute between you and the insurance companies. They may underestimate what you could have earned in the future, freezing your career right before the accident to underpay you any way they can.
Non-Economic Damages Are a Crucial Part of Your Car Accident Settlement
Economic damages in a car accident settlement present enough disputes on their own, and your case becomes even more complicated when agreeing on non-economic damages. Your car accident injuries can affect you in several ways. Most obviously, your injuries will result in physical discomfort that you must deal with daily. In addition, you may have to endure the following:
- Anxiety
- Stress
- Depression
- Loss of enjoyment of the life that you had before the accident
- Scarring and disfigurement that can change your appearance
- Embarrassment and humiliation
- Emotional distress
Pain and Suffering Damages Can Be Challenging to Value
Pain and suffering is subjective by nature. You are experiencing the ordeal of the accident because of someone else’s actions. You have been living in a difficult situation, and you may have to deal with the effects of the accident for years or even for the rest of your life.
The nature of pain and suffering damages should mean that they are unique to you, and two accident victims may react to injuries differently. You may be dealing with anxiety and emotional issues because of your specific circumstances. The driver has a legal obligation to pay you for all you have endured. If you were more susceptible to accident injuries than other people, the driver should have thought of that before they acted negligently behind the wheel.
Objective Formulas Can Be to Your Disadvantage
When it comes to non-economic damages, insurance companies will try to use a formula to calculate what they believe you deserve that takes your specific circumstances out of the equation entirely. These objective formulas defeat the purpose of individualized car accident damages.
One of the formulas that insurance companies rely on is the multiplier method. They will assign a multiplier to your medical bills based on the severity of your injuries. For example, if you have suffered a brain injury, they may use a multiplier of five, whereas soft tissue injuries can mean a multiplier of one or two.
The multiplier method will almost always result in unfair compensation for accident injuries. Insurance companies know what they are doing, and it is up to you to stop them and tell your story. Otherwise, you can end up being underpaid for your damages.
The other method to measure pain and suffering is on a per diem basis. If you will recover from your injury, the insurance companies may try to pay you a daily amount for your pain and suffering. Again, the per diem amount can be too low and the payment period too short, resulting in less money for you.
The Insurance Company Does Not Have the Final Word
You do not have to let the insurance companies dictate what you may get in a car accident settlement. They represent and defend the driver who caused your injuries and want to make your case go away for as little money as possible. Even though the insurance companies have a legal obligation to pay you, they want to clear your claim off their books.
The only thing the insurance companies can do is make you a settlement offer on behalf of their driver. Since they must pay for your total damages up to the amount of the policy limit, they may try to settle your case for less than it is worth.
You Can Reject a Settlement Offer and Decide to Negotiate or File a Lawsuit
You have the power to decide whether to accept a settlement offer. If the offer does not pay you all you deserve, you can and should reject it. Your attorney will evaluate the settlement offer and determine whether you should accept it and how to respond to it. You will need to go through multiple rounds of exchanging proposals before you even get anywhere near the ballpark of a settlement. Insurance companies are known for making low settlement offers and trying to steamroll you during the legal process, and it is up to your attorney to push back and demand what you deserve. If the insurance companies do not fully pay you, you can take your case to court and let the jury decide what you should get.
Know that every car accident settlement agreement results from a negotiation process between you and the insurance companies. You can rest assured that their opening position will be that you deserve only a tiny fraction of the damages you have suffered. You need to build room into your negotiating position, knowing that the final number for your settlement will likely be somewhere between your opening figures.
Hire a Car Accident Lawyer to Be in a Better Position to Get Fair Results
The best way to put yourself in an advantageous negotiating position is to hire an experienced attorney to handle your case. Not only does your lawyer know how to calculate what your case is worth, but they also know the most effective way to get you the full amount you deserve.
When you have a tough car accident attorney representing you, insurance companies cannot use their usual tactics or take advantage of your lack of legal knowledge. Your attorney will be your advocate every step of the way, and their work should lead to more money for you, even after you pay your attorney their share of your settlement. The results with a car accident lawyer are regularly more favorable than if you try to seek compensation on your own.
Seek Your Free Consultation With a Car Accident Attorney Today
After a car crash, seek a free consultation with a car accident attorney as soon as possible. Even if you don't think your injuries are severe, you should know your rights to possible compensation following an accident. A lawyer can examine your legal options at no cost.
During your free consultation, a car accident attorney will evaluate the details of your case and provide you with valuable legal advice. They will listen to your side of the story, review any evidence you have, and help you understand the potential avenues for compensation.
Not only will a car accident attorney provide you with expert guidance, but they will also handle the necessary paperwork and negotiations on your behalf. This will allow you to focus on your recovery, rather than the stress of dealing with insurance companies and legal procedures.
Remember, time is of the essence when it comes to car accident cases. Seeking a free consultation with a car accident attorney today will ensure that you have the best chance of receiving the compensation you deserve. Don't wait, reach out to a car accident attorney and schedule your consultation today.