How To Know The Value Of Your Car Accident Claim: 6 Factors To Consider

Many people know that they have the right to be compensated for their injuries due to a car accident, but many don’t know how much money they can receive. After all, most of us won’t ever sue someone else for money damages. And up until now you probably never thought about it either. But when you get involved in an accident, you are unsure of what to do next. You don’t know how much your injuries are worth or if you should even pursue a claim. So in this article,  we will talk about the factors that go into determining the value of your car accident claim.

Hiring a Lawyer

The lawyer you hire to represent you greatly impacts the value of your car accident claim. You may think that because there are no real expenses involved in proving fault, hiring an attorney should not be necessary. However, the lawyer’s expertise and knowledge can be highly beneficial to your claim. An experienced lawyer will know all the small details about how these cases work and can use that knowledge to your advantage. As seen at https://www.davidchristensenlaw.com/detroit-personal-injury-lawyer/how-much-is-my-personal-injury-claim-worth/, a lawyer is worth his weight in gold when it comes to the courtroom. So if you ever find yourself in a position where you need to make a claim or lawsuit involving a car accident, try to find the best attorney you can to represent you.

Fault

The first thing you need to know is the rules of fault. Two different kinds of fault could apply to your accident, which include contributory and comparative negligence. Contributory negligence means that you contributed in any way to the cause or extent of your injuries. Comparative negligence, on the other hand, is simply apportioning the total fault of your accident between all the parties involved. For example, if you were 20% negligent (your negligence caused or contributed to cause injury) and the other party was 80% negligent (the other party’s actions had more impact on causing your injuries than yours did), then you would be entitled to recover damages for 80% of your injuries. 

Medical Bills

The number of medical bills that you have may be one of the biggest pieces in determining how much your claim is worth. Many factors go into determining how much your medical bills are worth, including how long you have been receiving treatment for your injuries, the specifics of the injuries themselves, and whether or not you will have to have future medical procedures done related to the accident. Most people only think about their medical bills right after they have been in an accident. But what you don’t know is that if it takes a long time to get better, the costs of your medical bills and treatments will add up over time.

Lost Wages

Another big factor in determining your claim’s value is how much money you lost because of not being able to work due to your injuries. Lost wages can be easy to calculate if you were working for someone else at the time of your accident or if you had just started a new job. But what most people don’t realize is that the lost income they suffered might not just be because of their injuries, but also due to missed opportunities they never knew about until after the accident. If you were waiting for a job offer before you could start working, and then you were in an accident that prevented you from ever receiving that offer, then the lost income associated with your injury claim would be much more than just the difference between your current pay and what you would have made at that new place of employment.

Property Damage

When you are in an accident, the last thing on your mind is how much that accident will cost to fix or replace if anything was broken or damaged. But that damage may be taken into consideration when it comes to figuring out the value of your claim because many insurance companies will attempt to reduce their total liability by paying for property damages instead of injuries. If your injuries were more severe, then the insurance company may be willing to pay out a percentage of their total liability as compensation for those injuries. But if the damage was minor, and you had only minor injuries, they may not want to pay as much money for medical treatment and instead attempt to negotiate how much it will cost to fix or replace your property.

Loss Of Consortium/Emotional Distress

The last major factor that we will consider when trying to figure out the value of your claim is none other than loss of consortium and emotional distress. Loss of consortium simply means that your spouse or partner can no longer participate in some activities with you because you are not able to do those things because of your injuries. Emotional distress is the mental and emotional trauma you have suffered as a result of being in an accident. In some cases, you may not be able to work because of the emotional distress you are suffering. Therefore,  the court may award you compensation based on your loss of consortium or emotional distress, even though you did not suffer any physical harm.

While many different factors go into determining how much your claim is worth, these six should give you a good start when it comes to trying to figure out what your claim will be worth. By knowing these factors, you will have an idea of what your lawyer will be trying to get for you and how much money you can reasonably expect to receive.