After a car accident, you might think that receiving compensation for your injuries will be easy. After all, it's clear that the other driver was responsible for the accident. However, when you are communicating with the insurance provider, you might discover that they will do everything they can to reduce the compensation that you receive. It's important to not accept a settlement that is less than you deserve.
Damage Formulas
When you speak with a negligence attorney, they will often use a damage formula to help you determine how much your case should be worth. The formula will not determine exactly how much your case is worth, but it will provide general guidelines.
The formula will include all of the medical damages you have sustained as a result of the accident. This can include the cost of seeing a doctor, running tests, prescription costs, and any other medical expenses related to the accident.
How to Calculate Serious Damages
If the injuries are considered to be minor, the formula might simply take into consideration your medical expenses. However, if the injuries are considered to be severe, the formula might come up with a figure that is several times that of your medical expenses.
Your Settlement Offer
The formula is important because you will know when to reject a settlement offer from an auto insurance provider. If the settlement offer deviates a considerable amount from the figure you arrive at through the formula, your insurance provider will continue to negotiate and will ask for a larger settlement offer.
Be Careful When Accepting a Settlement
It's also important to not reach a settlement until you have fully recovered from your injuries because it will not always be clear how much your damages are worth until you have fully recovered and know the full extent of your injuries. You may be undergoing medical treatments for years, but you will have a better sense of what your settlement should be worth as more time passes.
Even though you have suffered damages, it's important to understand how negligence works. You must prove that the other party had a duty of care, that they breached the duty of care, that you were injured, and that you suffered damages as a result. Every car accident case is unique and you will need to speak with your negligence attorney about what other factors might come into play that will affect how much your settlement will be worth.
Reach out to a negligence lawyer like Franklin L. Jones, Jr. for more information.
Share