What You Get From an Auto Accident Settlement
The amount you receive for a car accident settlement depends on the degree of your injuries. Injuries that are more severe will result in larger current and future medical costs.
Documenting your losses will maximize your settlement. Lawyers can help you create a list of damages including medical notes, wage records, and eyewitness testimonies.
Medical bills
If someone is injured in a car accident medical bills are usually in the forefront of their minds. In most personal injury cases, the law covers the costs. It can take months or even years before the driver who was at fault is found to be responsible by a court verdict or settlement agreement however. In the meantime, victims are able to accrue medical bills that need to be paid.
Injuries from car accidents typically require major medical procedures including surgery and physical therapy. Medical expenses can be costly. It is essential for victims to be aware that they should not be required to shoulder the financial burden of paying their own medical expenses following a crash, and that the driver who caused the crash is responsible for paying these bills as part of their settlement for the accident.
In some instances the at-fault party will pay the victim's medical expenses directly. In certain cases the victim's health insurance coverage or med-pay will pay these costs when they accumulate. These bills may be covered by rolling claims based on the victim's insurance coverage and situation.
In certain situations hospitals or health insurance provider may create a lien against the settlement made by a victim. Fortunately, a qualified attorney can assist in negotiating these liens in order to ensure that more money is put in the pockets of the victim.
Loss of wages
A car accident can create financial havoc. In addition to medical bills and property damage you may be required to cover the cost of lost wages because of your injuries. New York law requires car insurance policies to compensate you for the loss of income, up to a certain amount. Your attorney will fight to recover the full amount of your missed earnings.
Paystubs or other wage documents are the most commonly used method to prove the loss of income. Other important documents include bank statements, invoices, and correspondence when you were self-employed. The correspondence from your employer that confirms the number of hours/days you were off work due to your injuries is also extremely important.
If you are suffering from an injury that permanently limits or stops your earning capacity, your lawyer will consult an economist or financial expert in order to determine your future earning potential. In this case the expert will look at your education, age, credentials, training, career trajectory, and tasks that you can not perform anymore.
Our Syracuse car accident lawyers frequently represent clients who have been severely injured in accidents and are disabled from working. Not only are they entitled to compensation for lost wages resulting from accidents that weren't their fault, but they may also be eligible for additional compensation through the insurance company of the driver or car owner who was responsible.
Pain and suffering
Car accident victims are entitled to compensation for the emotional trauma and pain they endure after a collision. However, because emotional distress and physical pain can't be captured in a photo or documented with x-rays,
auto accident lawsuit insurance companies tend to discredit these losses. This is why it's vital to have a competent personal injury attorney to represent you when dealing with the at-fault driver's insurer.
Your Queens injury lawyer can assist you in gathering evidence of all kinds to prove your claim for damages. For instance, a patient's medical bills and formal diagnoses can establish the severity of their injuries. A diary or journal that begins on the date of the accident and lasts throughout recovery may also record signs of emotional distress and physical pain.
The extent of your injuries could also affect the amount you receive. For example, a spinal cord injury or severe brain trauma could result in a higher payout than a minor concussion which healed in three weeks.
The settlement you receive from your
auto accident lawsuit accident will be affected by the value of your injuries. Your lawyer will help you determine the value of your injuries and create an impressive case to secure the maximum amount of compensation you are entitled to. To find out more about the kinds of damages awarded in a New York
auto accident lawsuit Contact an experienced attorney.
Damages
As we mentioned above Settlement awards are designed to compensate victims of car accidents for the financial loss they suffered. The amount will vary depending on the severity of a victim's injuries and the amount they have lost due to missed work and property damage.
A verdict may also include non-economic damages such as pain and suffering. These damages aren't quantifiable, but insurance companies use a formula to determine how much to pay for these damages. A multiplier, usually 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 paid more than minor or injuries that are temporary.
A car accident can be a traumatic experience and the financial losses that come with it can be life-changing. The amount of the settlement won't cover these losses, but it can assist victims to overcome their financial challenges and get back to normalcy.
An experienced car accident lawyer is able to evaluate your case and negotiate the highest possible settlement. While it can be tempting to accept a lower amount than you're entitled to however, it could be detrimental to your future recovery. Once you sign a settlement agreement, it is understood that you are reneging on the right to file additional claims or pursue court action for any additional losses related to the accident.