After you have been injured in an accident that someone else is at fault for, you will likely have to file a claim with their insurance company in order to get the money that you deserve for your injuries and financial damages. Once you file a claim with an insurance company, you will need to go through an investigation with a claims adjuster. The claims adjuster will go through every detail of the accident, including the cause of the accident, the injuries that you sustained, and the financial impact that the accident has had on your life, before returning to you with a settlement offer.
While this settlement offer may seem like a good idea to accept, it is almost never the right decision to accept the first offer that you get from an insurance company. It is important that you keep in mind during the entire process that an insurance company’s primary focus is on limiting the amount of money that it pays out for any one claim against one of their clients. Therefore, the best thing to do is to consult with an attorney who can help you through the entire claims process, handle negotiations, and generally ensure that each step you take is with the intention of maximizing your chances of a positive outcome to your case.
Read more below about what to expect after your initial settlement offer from an insurance company, as well as some general information about the different types of damages that go into determining the true amount of compensation that you are owed. Contact us now to be connected with one of the trustworthy attorneys in our network as soon as possible.
Determining What You Are Owed After an Accident
One of the most important parts of a personal injury claim is knowing what your injury is truly worth. Without this information, you do not have any concrete basis to negotiate from, and it will make the entire negotiation process much more difficult and unproductive. In order to determine what you truly deserve for your injuries, you should work with an attorney who has a history of experience in calculating these amounts. A good attorney will consider all of the following factors, along with many more, before coming to a decision.
Economic damages are the basis of a personal injury claim or lawsuit because they are the most simple to calculate and essentially make up the foundation of the costs. They include things like your medical expenses and bill, including anything that is covered by your insurance. Whether or not you have paid for all of the economic damages out of pocket is not part of the question—once you receive an award, it will be distributed among the parties who are entitled to payment such as your medical insurance, and your attorney.
In addition to the medical expenses that are covered under economic damages, they also seek compensation for your income-related issues stemming from your injuries. They include any time that you missed from work as a result of your injuries, medical treatment, and recovery, as well as any short- or long-term disability that you may have to endure. If you cashed in any vacation days or paid time off in order to cover time away from work, this will also be included in your economic damages for compensation.
Finally, any services that you need to pay for that you would have performed on your own if not for your injuries, such as grocery shopping, home care and more, will also be included in these types of damages. An experienced lawyer will be able to go through all of your expenses and financial statements in order to create a comprehensive list of damages that you deserve payment for.
Non-economic damages are typically more complicated to calculate than economic damages, which is why they are usually the most contentious and difficult to reach an agreement on. It is typically the non-economic damages that you and your attorney will seek as additional compensation from the insurance company.
Non-economic damages include all of the impacts of an accident and injury that do not have established, measurable dollar values. Things like emotional suffering and physical pain following an accident are considered to be non-economic damages, as well as bouts of depression, loss of enjoyment, and any other, more “abstract” damages. Just because there is not a simple dollar value for these types of damages, it does not make them any less important.
In order to determine a dollar amount for the damages you will be seeking, there are a variety of methods that an experienced personal injury attorney in West Palm Beach can use. One common method is by considering all of the non-economic damages and impacts and choosing a number on a scale to indicate their cumulative severity. Once this number is identified, it is used as a multiplier against the economic damages in order to translate them into a dollar amount.
Hire An Attorney To Get The Compensation You Deserve
When you are going up against an insurance company for additional damages, especially non-economic damages, you can expect a lot of pushback from their legal team. In order to have the support and representation that you need in order to reach a fair agreement, hire a personal injury attorney to take your case. They will be able to negotiate aggressively on your behalf, and if these negotiations fail, they will be able to guide you through trial.