How Do I Know What My Car Accident Injury Is Worth?
There are many reasons why people get less than they're entitled to from insurance companies after car accidents. Perhaps the simplest reason is that most people don't know how much they're entitled to in the first place.
It's not easy to quantify the actual cost of the damage sustained from an accident. However, there are guidelines that you can use to help you determine the minimum amount you should accept from the insurance company.
Factors that Should Be Accounted for When Filing a Claim
Following an accident, there are several things that you need to consider before you file acclaim with the insurance company. These include:
Damage to your vehicle: Your car may need extensive repairs or to be replaced
Medical expenses: This is the most important part of the claims since it can seriously affect how you live your life. You should ensure that all the relevant medical expenses are considered in the claim.
Lost income: If you're unable to work and earn a living as a result of the accident, you'll need to factor in the money you won't be making.
Pain and suffering: This may be hard to quantify but it's still an important part of the settlement. This can be pain as a direct result of the accident or the treatment.
What if Your Claim Exceeds the Policy Limit?
Sometimes, the victim of a car accident will realize that their claims are higher than the policy limits of the other person's insurance cover. This is a tricky position because the insurance company will only be expected to give a payout of no more than the policy limit. At this point, you'll have to file a suit against the other party in the accident directly.
Unfortunately, this may not be worth the effort in certain scenarios. If the other party has no significant assets, they will not be able to pay you the money even if you win the suit. Therefore, you may have to accept no more than the policy limit.
Why You Need an Attorney
A personal injury lawyer will be able to advise you on how much you need to claim. They can ensure you don't settle for an offer that doesn't properly take care of all the damage you've suffered as a result of the accident. If your claim exceeds the policy limit, they can also advise you on whether a suit against the individual is worth your time.