11 "Faux Pas" That Are Actually Okay To Make With Your Motor Vehicle Litigation
Motor Vehicle Settlement
A settlement for a motor vehicle may be used to pay for property damage, medical bills (current and future) loss of wages, and even the cost of suffering. A personal injury attorney can assist you in gathering the evidence you need to get a reasonable settlement.
Economic losses may include medical bills and up to 80 percent of your lost income. Other damages, such as discomfort and pain are calculated by adding the cost of your injuries to your injuries.
Calculate the value of your claim
Many victims of car accidents want to know what their settlement claim is worth. There is no set amount that a judge can give, but it does depend on the specifics of the case and the severity. An insurance adjuster uses a formula to assess the claim based upon the amount of quantifiable expenses like medical expenses and lost wages. The more severe the injury, the greater the award.
The assessment of the property damage is the first step in determine the value. This includes the cost of fixing or replacing a damaged vehicle as well as personal items, like cameras and phones that were damaged in a crash. Future medical expenses can be included in the settlement.
In order to calculate non-economic damages an insurance adjuster will typically begin by calculating the amount of work weeks missed by the victim because of their injury. motor vehicle accident law firm pembroke pines is then multiplied by the severity of the injury.
A lawyer can make the difference to the amount you receive. A lawyer with experience negotiations with insurance companies can help you get a better settlement than you could on your own. An attorney can assist in obtaining the appropriate documents for your claim such as medical records, receipts and personal statements from witnesses who confirm your account of events. These documents can be useful particularly when making a demand letter to the insurance company.
Send a Demand Letter
After you have collected all the evidence that can be used to support your claim, including medical records, lost wage information, bills and receipts relating to property damage, it is the right time to write a demand letter. Your personal injury lawyer will write this letter to the insurance company. It explains the specifics of your injury and the damages you are seeking to compensate you for your losses. It also contains an application for compensation for non-economic injuries like pain and discomfort.
It is important that you write the demand letter as if the insurance company had no prior knowledge of the accident or your injuries. Your personal injury lawyer should utilize a calm and objective style. The insurance company may attempt to trigger an emotional response to convince you to accept a lower settlement offer.
It is also crucial to list all of your losses in the demand letter, including the breakdown of your specific expenses and a calculation of any damages not economically based. All relevant documents should be provided with the demand letter. While you want to include as many details as possible, it is generally best to go high with the initial dollar amount you're seeking for your damages. This will allow you to negotiate and reach an equitable settlement without having to go through a trial.
Make an Offer to Counter
Once the insurance adjuster evaluated your request letter and offered an opening offer, it is time to make a counteroffer. It is important to consider the general damages that you have calculated, as well as any damages specific to your accident when deciding what you should ask for in counteroffer. Additionally, if have any emotional issues which could aid your case, such as the stress and suffering of having to miss family gatherings or difficulty in taking on responsibilities like caring for children because of your injuries, it is essential to incorporate these aspects into your counteroffer.
It is essential to notify the adjuster of your decision at the time you decide how much to raise your counteroffer. Your legal representative can help you draft a letter that clearly outlines your decision to reject the insurer's lower settlement offer and explain the reasons you should be awarded a more substantial amount.
If the insurance adjuster is unable to accept a reasonable offer, you may have to consider other options, such as filing a personal injury lawsuit. However, it is important to remember that a lawsuit can take months or even years to be completed. A lawsuit may also require both parties to spend additional funds to prepare for the trial. This is the reason it is generally preferable to settle outside of court, if it is possible.
Keep track of your claim
In the event of a car accident, keeping track of your damages and losses is crucial to ensure that you receive an equitable settlement for your car accident. Your lawyer should be able to assist you in calculating your total losses as well as determine the amount you should request from the insurance company in a demand letter. This is a crucial step, as it shows the other party that you are committed to settling your claim.
Insurance companies usually employ a formula to determine how they will offer in a car accident settlement. The formula incorporates an increase multiplier based on medical costs and other expenses that are quantifiable, such as lost income. The multiplier can range between 1.5 to 5 depending on the severity of your injuries influencing the number you choose to use.
The problem with this approach is that it doesn't account for your non-economic damages like suffering and pain. These are difficult to quantify and it is difficult for a physician to predict future issues that might develop weeks or months after your accident.
Keep copies of all receipts, photographs, financial records, and personal statements as well as other relevant documents in the event that your vehicle accident case has to be transferred to court. This documentation will help speed up negotiations and prevent any misunderstandings in negotiations with the insurance company.