What Factors Determine the Value of an Automobile Accident?

Categories: Car Accident

anthony Car Accident

There is no such thing as a one size fits all insurance settlement after an accident. Instead, it comes down to the variables that are present in your case. Each minor detail could increase or decrease the value of your case.

While there are so-called value settlement calculators, not all insurance companies use the same ones. Also, these calculators give a ballpark estimate for insurance companies when considering a settlement. However, your attorney’s skill and the power of your evidence could sway the numbers higher or lower than any generic estimate.

What Factors Lead to a Higher Settlement?

Certain factors will increase the value of your injury claim. These are what insurance companies refer to as multipliers because they add to the overall costs. Naturally, the more severe an injury is, the higher the payout would be on that injury over something that is considered “minor” by the insurance company.

The following factors could increase or decrease the value of your claim:

  • Severe Injuries – Serious injuries like traumatic brain injury, broken bones, spinal cord injury, or permanent nerve damage.
  • Medical Expenses – High medical costs, which are thoroughly documented, will result in a higher settlement amount.
  • Medical Treatments and Prognosis – The more medical treatments required, and the severity of those treatments, the higher your payout could be. However, these cannot be alternative treatments. Instead, they must be treatments that other medical professionals would agree to be necessary for your recovery.
  • Permanent Injuries – Permanent injuries that affect the victim for the rest of his or her life will yield a higher settlement value. These can include permanent weakness, loss of mobility, disfigurement, facial scars, amputations, and so forth.
  • Daily Life – How the injury affects the victim’s daily life during recovery as well as the years following the accident equally count. The insurance company will have higher modifiers when a person has a permanent disability.

What Factors Could Lower a Settlement Value?

Just like you have factors increasing your settlement value, you must realize that certain factors could decrease the value as well.

  • Soft Tissue Injuries – A soft tissue injury is painful, but these do eventually heal. Soft tissue injuries can include everything from sprains, strains, and bruises to whiplash injuries.
  • Diagnosis Not Treatment – If a vast majority of your expenses you claim in the medical portion of your lawsuit are related to diagnostics, such as tests, rather than actual treatments, you may receive less.
  • Recovery Period – A short recovery or a prognosis that states you will make a full recovery will lessen the amount you receive.
  • Treatments Not Recommended – If you receive alternative treatments or those that are not recommended by other medical professionals, it is unlikely the insurance company will compensate for those costs.

How an Automobile Accident Lawyer Can Help

While there are ways to lessen or increase your settlement, there is no need to try to figure this all out alone. Instead, you need to find an advocate ready to fight for your rights to compensation. You’re required to give a statement to your insurance company in the event of an accident, but you’re always allowed to have a lawyer present. Contact attorney Clarke Nash today at the Law Offices of B. Clarke Nash, P.C.

He can help you not only receive compensation but understand what mitigating factors might affect your case – and how to avoid them.

Schedule a consultation with him today at 912-200-5292 or request more information online.