Following a car accident, life can be expensive and challenging for some time. Medical bills may pile up, depending on the severity of your accident injuries. On top of that, you may lose income from missing work. Also, your injuries may cause you to experience limitations and pain that wear on you - both physically and mentally.
If the other driver was responsible for causing the car accident, then you may be able to file a personal injury claim against them. By pursuing a claim, you could get compensation for your related injuries, medical bills, and other losses. But, without consulting an attorney, you have no way of knowing how much compensation you can expect to get in a settlement.
While each accident and injury is different, car accident attorneys have accepted methods of calculating losses to ensure their clients receive the justice they deserve. Reach out to a trusted Tampa car accident lawyer today.
Car Accident Settlements
Car accident settlements are agreements reached between the parties involved in a car accident, typically between the injured party and the at-fault driver’s insurance company. These settlements are designed to compensate the injured party for their damages, which can include medical expenses, lost income, and pain and suffering.
Working with personal injury lawyers who understand car accident settlements is crucial for anyone who has been involved in a car accident and is seeking compensation for their injuries. The settlement amount aims to cover the financial impact of the accident, helping car accident victims recover and move forward with their lives.
Factors Affecting Car Accident Settlements
Several factors can influence the amount of a car accident settlement. The severity of the injuries sustained plays a significant role, as more serious injuries often result in higher medical expenses and longer recovery times. The amount of medical expenses incurred is another critical factor, as well as the extent of lost income due to the accident.
Pain and suffering, which encompasses the physical and emotional distress caused by the accident, also impacts the settlement amount. Additionally, the extent of property damage, the level of fault attributed to each party involved, and the insurance coverage available are all important considerations.
A car accident attorney can help individuals understand how these factors will affect their settlement and negotiate with the insurance company to ensure a fair outcome.
Don’t Trust The Insurance Company’s Calculations
Insurance adjusters calculate losses with the insurance company’s best interest in mind, not the car accident victim’s. Insurance adjusters often try to settle claims quickly and for the lowest possible amount. So, it’s crucial to approach their settlement calculations with caution and skepticism.
Insurance companies typically use formulas, guidelines, or software programs to estimate the value of your claim. However, these methods may not account for the specific details of your case. As a result, you may get an undervalued or unfair settlement.
Never assume that an insurance company’s calculations are accurate. Also, never accept a settlement without first seeking legal consultation to ensure you seek compensation that accurately reflects your losses.
Your Attorney’s Calculations
Consult with experienced personal injury attorneys to ensure a fair assessment of your losses. We can evaluate your case and assess the full extent of your damages, including:
- Medical expenses
- Property damage
- Lost wages
- Pain and suffering
- Future anticipated expenses
- Permanent disabilities or disfigurement
We will then negotiate on your behalf with the insurance company for the full settlement amount we believe you deserve.
Our attorneys can help protect your rights, navigate the complexities of insurance claims, gather necessary evidence, and provide guidance throughout the process. By having an advocate on your side, you can work towards receiving the compensation you rightfully deserve.
Valuing Your Losses
Economic losses in a personal injury case are easy to calculate. They may include medical bills, lost income, and other out-of-pocket expenses. Our legal team can collect your bills, receipts, and other financial documents to prove the economic losses you need reimbursement for. If you anticipate future medical bills and lost earnings, we can use experts to project these losses.
Non-economic damages are more difficult to quantify. They’re the intangible losses you experience, including pain and suffering damages.
There are different methods of calculating these damages, including the following:
- Per diem method - Assigning a dollar amount to every day you experienced pain and suffering due to your injuries
- Multiplier method - Taking your total economic damages and multiplying them based on the severity of your injuries (1 is a minor injury, 5 is a catastrophic injury)
Documenting Your Car Accident Claim
Documenting your claim is essential to securing a fair car accident settlement. Start by keeping a detailed record of all medical expenses, including bills and receipts. Document any lost income by saving pay stubs and obtaining letters from your employer. Maintaining a journal of your pain and suffering, with dates, times, and descriptions of your symptoms, can also be valuable. Take photos of any property damage and gather witness statements and contact information.
An auto accident lawyer can assist you in collecting and organizing this documentation, building a strong case to support your claim.
Deadline to File a Lawsuit
In Florida, the deadline to file a lawsuit for a car accident is typically two years from the date of the accident. However, this deadline can vary depending on the specific circumstances of the case. It is best to consult with a lawyer as soon as possible after an auto accident to ensure that all necessary steps are taken to protect your rights and meet the filing deadline.
By understanding car accident settlements, the factors affecting settlements, documenting your claim, and meeting the deadline to file a lawsuit, you can work towards receiving fair compensation for your injuries and damages. A Florida car accident attorney can provide guidance and support throughout the process to ensure the best possible outcome.
Consult With Our Tampa Personal Injury Attorneys Today
At Hancock Injury Attorneys, we’re committed to accurately calculating your losses so you know what to expect in a fair settlement for a car accident claim. We have decades of experience helping injured clients in Tampa and beyond.
Contact us for a free consultation as soon as possible, and let us start working on getting you the compensation you need and deserve.