Car accident claims can vary greatly depending on the amount and type of damage sustained in the crash.
When representing clients involved in a wreck, car accident lawyers and insurance companies alike will calculate what they believe the value of the accident claim should be.
Of course, insurance companies typically suggest a claim value that is on the lower side of what a car accident attorney might request, so negotiation may happen when the two do not agree on the claim amount.
In either case, these are the different factors that are taken into consideration when car accident law firms calculate claim values so they can argue in their client’s best interest.
- Medical Expenses - Car accident lawyers assess the severity of the accident first by documenting present medical expenses and estimating what future medical care might cost. These estimations include emergency transport, hospitalization, fees for doctors and other medical professionals, diagnostics tests, surgeries and medical procedures, medications, aids like wheelchairs, crutches, and boots, and any home care assistance that might be required. These costs are calculated throughout the claimant’s recovery period and into the future, especially in situations where the injury is expected to have a long recovery period or even become permanent.
- Lost Wages - In addition to medical expenses, car accident attorneys also calculate lost wages starting from the time of the accident throughout the estimated recovery time. This calculation covers wages or salary as well as lost bonuses and commissions plus consideration for lost earning ability.
- Pain and Suffering - The most difficult type of damage to put a price on is pain and suffering, as this is different for every person. Doing so effectively requires the consideration of experienced car accident law firms with proven track records to calculate a suitable figure based on each individual person’s circumstance, the amount of pain they are experiencing, and how their pain and their condition are expected to continue moving forward.
- Quality of Life - Lastly, car accident lawyers will also consider how an injury might affect a claimant’s personal and social relationships, their ability to partake in their favorite pastimes, and overall quality of life issues.
One of the most difficult parts of any personal injury lawsuit after a car accident is putting a value on a person’s injury claim.
While it might seem easy for car accident attorneys to estimate medical expenses and lost wages, it can be more challenging than expected when an injury has lasting effects.
Pain and suffering as well as quality of life issues are also very subjective.
Valuing any car accident claim requires the experience of skilled attorneys at car accident law firms that understand the true cost suffered and how to negotiate for the claim that their clients are entitled to receive.