3 Factors That Determine the Amount of Settlements for Car Accidents Injuries

19 May 2021
 Categories: , Blog

Many car accident victims don't know what to expect when they file for claims. If you do not have an auto accident lawyer as your legal representative, the insurance provider may take advantage and force you to settle for less. They may contact you with a proposed settlement, but where did the figure come from to provide such an amount? It doesn't just appear out of nowhere. You may also wonder whether it is a good idea to take the insurance company's offer and whether it would be enough.

In an automobile accident, there is no such thing as a one-size-fits-all settlement. A specific injury doesn't always equal a precise amount. The jury considers several variables. Some of the variables that impact the average compensation received in a car accident include the following:

Nature and Extent of Injury

It is not easy to place a monetary value on the agony and anguish that car accident victims experience. Therefore, to determine how much money a car accident victim can receive, insurance adjusters use a specific formula. This formula has no bearing on the amount of money the accident victim gets. It's merely a tool the insurance adjusters use to initiate the process of determining the value of a personal injury claim. Compensation isn't decided until some other variables are taken into account.

Naturally, insurers compensate more for a fractured leg than a high ankle sprain. Some injuries, for instance, catastrophic injuries, can impair one's capacity to independently move again, affecting both regular chores and the ability to sustain a job. Victims of such injuries may need medical attention throughout their lives. If you sustain serious or disabling injuries, the payout sum could be higher. Settlements for severe brain injury and impairment can be pretty high.

Length of Treatment

A lawsuit is usually not resolved until the survivor is through with the treatment. If you've been seriously hurt, you may need several operations. But, even scrapes and bruises may take months to recover from them. It's critical to follow your physician's instructions to the letter. Never hurry into your recovery plan to get your compensation check sooner, as this is a surefire way to jeopardize your case.

Legal Fees

The majority of personal injury lawyers operate on a contingency basis. This method ensures that their compensation is conditional on your performance, and they are not compensated until you are. They can subtract their legal fees from the overall settlement sum after concluding your case. This figure is indeed negotiated when you hire your legal representative at the outset of your case. 

To learn more about handling your case, contact auto accident lawyers.