Why You Should Focus On Making Improvements To Motor Vehicle Litigation
Motor Vehicle Settlement
A settlement for a motor vehicle may cover property damage, medical expenses (current and future) as well as lost wages and even pain and suffering. A personal injury lawyer can help you gather the evidence required to get a fair settlement.
Medical expenses that amount to as much as 80% of your lost income are considered to be economic losses. Non-economic damages like discomfort and pain are determined by adding quantifiable expenses to your injuries.
Determine the Value of Your Claim
Many car accident victims want to know the amount their settlement claim is worth. There isn't a standard amount that a juror can give, but it does depend on the circumstances of the case and the severity. An insurance adjuster uses a formula to value the claim based on the costs that can be quantifiable including medical expenses and lost wages. The more severe the injury, the more the amount.
Assessing the damage to the property is the first step in determine the value. This includes the cost of repairing or replace a damaged car and any personal items such as phones and digital cameras that were damaged in the crash. The future medical bills could also be included in the settlement.
For non-economic damages The insurance adjuster will usually begin with the number of weeks the victim was absent from work because of injuries. This number is then multiplied by the severity of the injury.
An attorney can make a significant difference in the amount of your settlement. An attorney who is experienced in negotiation of settlements with insurance companies will help you receive a greater settlement than you could get on your own. An attorney can also assist you in gathering the necessary documents to support your claim, such as medical records, receipts and personal statements from witnesses who confirm your account of the events. These documents can be helpful particularly when creating a demand letter to the insurance company.
Send a Demand Letter
It is time to write an demand letter once you have gathered all the documents that support your claim. This includes medical documents, lost wages, bills and receipts for property damage as well as other relevant documents. Your personal injury lawyer will deliver this letter to the insurance company. It includes the details of the accident and the damages you want to cover the losses. It also contains the demand for compensation relating to non-economic losses, such as pain and suffering.
When writing the demand letter it is essential to write assuming that the insurance company has no prior knowledge of the crash or your injuries. In addition your personal injury attorney typically uses a style that is clear and calm. This is because the insurance company may attempt to trigger an emotional response to convince you to accept a lower settlement offer.
It is also important to detail all of your losses in the demand letter, which should include breakdown of the specific expenses, as well as a computation of any non-economic damages. The demand letter must be supported by copies of all relevant documentation. While you should include as much information as you can, it is generally recommended to go for the high end with the initial amount that you are seeking to cover your losses. This will allow you to negotiate and enable you to settle for an amount that is fair without having to go to trial.
Make an Offer to Counter
After the adjuster has looked over your demand letter and offered an opening offer, you may make an offer counter to the adjuster. motor vehicle accident attorneys ann arbor is crucial to take into consideration the general damages you have calculated along with any damages specific to your accident when determining what you should ask for in an offer counter. It is also important to include any emotional factors that could help your case. For instance the guilt of not being able to attend family events, or the difficulty of taking on obligations like caring for children due to your injuries.
It is important to inform the adjuster of your decision when you have decided how much you want to increase your counter-offer. Your legal representative can help in writing a letter that clearly states your intent to reject the insurer's low settlement offer and explain your reasons for why you deserve a more substantial amount.
If the insurance adjuster does not want to make a satisfactory offer you might have to think about alternatives, like filing a lawsuit for personal injury. However, it is important to keep in mind that a lawsuit may take months or even years to finish. A lawsuit will also require both parties to spend additional money to prepare for the trial. Therefore, it is preferential to settle the case out of court in the event of a settlement.
Keep track of your claim
Keeping track of your damages and losses is essential to ensure that you receive an equitable settlement for your car accident. Your lawyer should be able to help you calculate your total losses as well as determine the amount you'll need from the insurance company in a demand letter. This is an important step because it signals to the other party that you are committed to settling your claim.
Insurance companies typically employ an equation to determine how they are willing to pay in a car accident settlement. The formula typically incorporates a multiplier, based on your medical expenses as well as other measurable costs, such as lost income. The multiplier could range between 1.5 to 5 depending on the severity of your injuries affecting the amount used.
The issue with this method is that it does not account for your non-economic damages like suffering and pain. These damages are difficult to quantify and a doctor may not be able to predict future problems that may develop several weeks or even months after the accident.
It is also important to keep both physical and digital copies of all receipts, photographs and personal and financial records as well as other relevant documents in the event you need to move your car accident case to an action. This paperwork can in the negotiation process and avoid misunderstandings with the insurance company.