how does an attorney determine your settlement from an auto accident

The overwhelming majority of car accident claims settle through the insurance claim process. Before you negotiate a settlement with an insurance company, you need to figure out what you think your claim is worth. Most car accident attorneys and insurance adjusters use the "multiplier" method to get a ballpark estimate of the value of a claim.

Full Answer

Why do I need a lawyer for a car accident settlement?

Jan 19, 2022 · Dealing with settlement offers on your own can leave you feeling frustrated and overwhelmed. Many car accident victims ultimately accept a settlement offer that does not reflect their needs because they become frustrated with the process. Contact a lawyer as soon after your accident as possible for help moving through the process.

How does the car accident settlement process work?

Jan 13, 2022 · A lawyer can determine if the car insurance company is offering you a typical car accident settlement amount or if you deserve a bigger payout based on your damages.

Can a car accident claim be settled without a lawsuit?

Mar 04, 2022 · If you’ve been looking around to see what kind of settlements people win in car accident lawsuits, you’ve probably noticed the amounts vary. That’s because not every case is the same. There are nuances that make each case unique. You can’t really use other case judgments to determine what your case is worth. For that, you’ll need to contact a personal injury attorney …

Where do I go to settle a car accident claim?

Jan 04, 2022 · A car accident lawyer can help you determine whether the insurance company has issued a fair settlement offer and how that offer compares to the financial losses your accident has caused. Furthermore, if needed, a lawyer can help you negotiate with the insurance company for further compensation, based on your actual losses.

What is the average settlement for a car accident?

The average car accident settlement is $15,443 for accidents with physical injuries. For accidents with property damage only, the average car accident settlement is $3,231.

How is settlement value calculated?

Settlement value is essentially based on what a jury would award you for what you went through because of your injury. That number is the sum of your pain, your suffering, your bills, and your lost wages. Using a formula would not capture the details of each individual person's case.

How do you calculate an insurance settlement?

The basic formula insurance companies use to calculate auto accident settlements is: special damages x (multiple reflecting general damages) + lost wages = settlement amount.

What is a good settlement?

A Good Settlement Offer Whether the case settles at the top or bottom of the acceptable dollars found reasonable for the injuries involved depends on many factors. One of those factors is the ability to prove liability on the part of the defendant who is offering to settle the case.

How is whiplash settlement calculated?

The multiplier for your auto accident settlement formula for minor injuries, such as sprains or whiplash is usually to multiply by 1½ to 3 times the amount of medical bills. The multiplier for more serious injuries, such as broken bones or herniated disks, is 3 to 5 times the amount of medical bills.

How do you respond to a low settlement offer?

Responding to a Low Personal Injury Settlement OfferTry to Remain Calm and Analyze the Offer. ... Respond in Writing. ... Formulate Your Counteroffer. ... Don't Settle Until You're Healed.

How is accident compensation calculated?

Your compensation will be calculated by adding together: General damages - awarded for pain, suffering and loss of amenity (PSLA), and; Special damages - awarded for any financial losses or costs you have incurred.Oct 22, 2021

How much should I settle for a back injury?

For lower back injury settlements for sprains and strains, the average settlement is between $10,000 and $50,000. The larger settlements are the result of better lawyering and specific facts which can change the value of your case.

What happens if you can't settle a car accident?

If you cannot reach a car accident insurance settlement through negotiation, a lawsuit and an appearance in court may be required as well.

Where do you file a car accident lawsuit?

Car accident lawsuits typically are filed in the proper Circuit Court. This court usually will be the one located in the county where the accident occurred or where the negligent driver resides.

What is car accident investigation?

CAR ACCIDENT INVESTIGATION. After you file your personal injury claim with the negligent driver’s insurance provider, the insurance company conducts an investigation of the accident. This is done by an insurance claims adjuster. The investigation involves a review of every piece of evidence that you provide to prove your claim’s validity.

What evidence does an insurance adjuster review?

Pieces of evidence that the insurance adjuster reviews during the investigation of your claim include: The official police report for the accident. Photographs of the accident scene, your car and the other driver’s car. Statements from witnesses to the accident. Your medical records if you have signed a release.

What is an insurance adjuster investigation?

The investigation involves a review of every piece of evidence that you provide to prove your claim’s validity. When certain pieces of evidence are not available such as photographs of your car, the insurance adjuster might take them. Pieces of evidence that the insurance adjuster reviews during the investigation of your claim include: ...

How to settle a personal injury claim?

Experts can provide critical insight to your accident and subsequent damages. This insight can be used to underscore your personal injury claim. Experts whose opinions might be considered during your claim’s settlement process include: 1 Your doctor – The physician can discuss your injuries, treatment and prognosis. 2 An accident reconstruction specialist – This expert can create a digital rendering of your accident, showing how the factors at play led to it. 3 A civil or mechanical engineer – These individuals may be called on when one of the factors at play was a vehicle malfunction or a geographical feature such as a partially complete road construction project.

What can an expert do for you?

Experts can provide critical insight to your accident and subsequent damages. This insight can be used to underscore your personal injury claim. Experts whose opinions might be considered during your claim’s settlement process include:

Why do you use a multiplier when you have a car accident?

Why? Remember, the multiplier is used to give a monetary value to your physical and mental pain and suffering.

How long does it take to incur medical expenses?

It takes weeks, if not months, to incur those kinds of medical expenses. So, the conclusion drawn by the insurance company is that you experienced a great deal more pain, or at least experienced pain and discomfort for a longer time. Because of that, a higher multiplier (3 or 4) might be used.

Do insurance companies keep records of lawsuits?

For decades insurance companies have compiled statistics on every single personal injury lawsuit that goes to trial in every part of the country. The companies have also kept records on the hundreds of thousands of settlements they 've negotiated.

Is there a universal settlement formula?

There might not be a universal settlement formula, but insurers often use a "multiplier" method to estimate the value of a car accident claim.

Does insurance pay for chiropractic treatment?

Insurance companies rarely attach the full value of medical expenses in the areas of chiropractic treatment or physical therapy if the adjuster believes the length of treatment might be excessive. Many more variables also affect the value of the claim, including your age and your health at the time of the accident.

How to contact KNR for car accident settlement?

But at KNR, we know how to maximize car accident settlements, so you get everything you need and deserve. Call us at 1-800-HURT-NOW today for a free, no-risk consultation.

What are the benefits of having an attorney in a car accident case?

One of the benefits of having an attorney in a car accident case is that we will do the work and deal with the insurance company, so you won’t have to. We will:

What is compensation for pain and suffering?

Compensation for pain and suffering can be based on the injury you suffered, what treatments you received, how many, and how long your recovery is expected to take. Your testimony, description of your pain in medical records, and what types and how much pain medication you use also indicate your level of pain.

What does "time value of money" mean?

There’s a phrase “ the time value of money ,” which means getting less money now might be the same or better than more later. That’s something insurance companies count on when they come up with a settlement offer. They’re hoping for a quick settlement at a lower amount will be acceptable.

What is medical bill?

Medical bills are used to measure the severity of your injuries. The higher your costs, the higher the value. This includes everything from the time of the accident to the projected future costs caused by your injuries.

Does insurance cover criminal acts?

Insurance policies also don’t cover harm done due to criminal acts, among other things. If your accident is caused by someone trying to get away from the police, the company won’t cover it. Insurers often try to use these factors to suggest you’re limited in what you can recover.

Can you get a settlement if you are injured?

You won’t get a substantial settlement offer unless you’re severely injured and have high medical and rehabilitation costs. The longer and the greater your injury impacts your life, you should be offered more compensation. Your claim can also include emotional or psychological issues the accident caused along with its impact on your relationships with others.