What You Get From an Auto Accident Settlement
The amount of money you receive from a settlement in a car accident will depend on the extent of your injuries. More severe injuries will result in higher current and future medical bills.
Documenting your losses will help you maximize your settlement. Your lawyer can compile a list of all relevant damages that include doctors’ notes, wage records, and eyewitness testimony.
Medical bills
If someone is injured in a car crash, medical bills are usually on their minds. Fortunately, the law usually covers these expenses in personal injury cases. However, it may take months or even years before the at-fault motorist is held responsible by an agreement with a judge or a settlement agreement. In the meantime, victims incur medical bills that have to be paid.
Car accident injuries often involve significant medical treatments like surgery or physical therapy. The resulting medical expenses can be quite high. It is essential that victims know that they don’t have to pay their own medical bills after a crash. Instead, the at-fault motorist should be responsible for them as part their accident settlement.
In some instances the at-fault party may pay the victim’s medical expenses directly. In certain cases the victim’s health insurance policy or med-pay plan will pay these expenses as they get accumulated. The cost of these bills could be covered by rolling claims depending on the coverage of the victim’s insurance and situation.
In some instances hospitals or health insurance provider may make a lien against the settlement for a victim. Fortunately, a qualified attorney will help to negotiate these liens to increase the amount of money in the pocket of the victim.
Lost wages
A car accident could cause a major impact on your financial situation. You may also have to pay for lost wages due to your injuries in addition to medical bills as well as property damages. New York law requires that your car insurance policy reimburse the loss of income up to a limit. Your lawyer will fight to get you the full amount of the lost wages.
Paystubs, as well as other wage documents are the most frequently used method to prove lost income. Other documents to consider are bank statements, invoices, and correspondence if you were self-employed. Correspondence from your employer corroborating the number of working days you were absent from work because of your injuries is equally important.
If you suffer a long-term injury that restricts your ability to work or prevents you from working at all, your lawyer may consult an expert economist or financial expert to determine the worth of your earnings potential. In this case, the expert will examine your age, education and qualifications, training, career path, and job tasks you are no longer able to perform.
At Michaels Bersani Kalabanka, our Syracuse car accident lawyers often meet with clients who are seriously injured in accidents and can not work. They are not just entitled to no-fault lost wages but could also obtain additional compensation from at-fault driver/car owner’s insurance.
Suffering and pain
Car accident victims are entitled to compensation for the emotional pain and pain they experience after an accident. Insurance companies often ignore emotional pain and distress due to the fact that they aren’t documented by x-rays or photos. It is crucial to have an experienced personal injury lawyer to represent you in dealing with the insurer of the driver at fault.
Your Queens injury lawyer can help you gather all types of evidence to prove your claim for damages. For instance, a victim’s medical bills or written formal diagnoses can establish the severity of their injuries. A journal or diary that starts on the date of the accident and lasts throughout recovery can also document signs of emotional distress and physical discomfort.
The degree of your injuries will also affect the amount of your settlement. For instance, a serious spinal cord injury or a severe brain trauma may result in a bigger amount than a minor head injury that healed within three weeks.
The amount of your injuries are a critical aspect that can affect your auto accident settlement. Your lawyer will assist you in making a calculation of your damages, and then build an effective case to receive the full compensation you are entitled to. To find out more about the different types of damages awarded in a New York Auto Accident Attorneys accident lawsuit, contact an experienced attorney.
Damages
As we have discussed above Settlement awards aim to pay victims of car accidents for their financial losses. The amount of compensation awarded will depend on the severity and degree of the injuries sustained by the victim and also the amount of money they have lost because of their absence from work or property damage.
A verdict will also include noneconomic damages such as suffering and pain. Insurance companies use an algorithm to calculate the amount to pay. These damages are hard to quantify however they can be determined. A multiplier, typically determined by medical expenses, is added to the quantifiable cost to determine the amount of settlement for non-economic damages. Major injuries and permanent impairments are usually rewarded with higher amounts than minor injuries or temporary injuries.
A car crash is a traumatic experience that could alter your life. While the amount of settlements won’t completely eliminate these losses, it should give the victim to overcome their financial difficulties and restore some normalcy to their lives.
An experienced car accident lawyer is able to evaluate your case and advocate for the highest settlement possible. While it could be appealing to accept a lower amount than you deserve, this could jeopardize your future recovery. You give up your rights to sue or file additional claims related to the accident after you sign the settlement agreement.