If you were involved in an accident that was caused by another person’s reckless actions or negligence, you might be able to pursue a personal injury claim to recover compensation for damages that include, but are not limited to, medical expenses, pain/suffering, and lost wages.
Because some may be non-economic, such as loss of companionship, there isn’t an exact number that can be placed on these harms. Determining award amounts depends on the circumstances of each individual case, and various factors affect how much you can get.
Valuing Damages
Before submitting a demand for compensation to the insurance company, your attorney will thoroughly evaluate your case. This review includes assessing both economic and non-economic losses. Typically, determining how much to request for such things as medical bills and lost wages is straightforward, as you will have a receipt or pay stub that shows the cost of the treatment or your earnings.
Valuing non-economic losses become a bit more challenging because they are not based on actual amounts as medical expenses are. When valuing these types of damages, your lawyer will look at the severity of your injuries or losses to determine the amount to demand from the insurance company.
Making a Demand
After your attorney examines the facts of your case and decides how much to request for damages you suffered, they will discuss the matter with you. If you don’t feel the amount is fair, a higher compensation amount can be demanded. However, asking for more money does not mean the insurance company will comply. Not only will it have its own assessment of what your damages are worth, but it will generally only pay out settlements that are within the responsible party’s policy limits.
Negotiating a Settlement
The first request your lawyer makes is not the amount you should expect to receive for your claim; instead, it is a base for which negotiations can begin. You, your lawyer, and the insurance company will discuss compensation until deciding on a fair amount, which could increase or decrease from the initial demand. When negotiating a claim, your attorney will notify you of the offers made and what your next steps are.
Contact The Fran Haasch Law Group So One of Our Attorneys Can Evaluate Your Potential Case
Understanding the emotional and financial impacts an accident can have on your life, our lawyers provide compassionate and focused representation to work toward getting just compensation. We will examine all receipts and bills for accident-related expenses, as well as value non-economic damages, to make a demand to the insurance company. Backed by over 25 years of legal experience, we have the skills to build a solid case on your behalf and negotiate a fair settlement.
To get started on your case, call us at (727) 784-8191 or contact us online today.
