Due to other various external factors, being able to place a value to your New York City car accident can be challenging. There are certain variables that determine the worth of the car accident claim at settlement, after trial and jury verdict.
There are certain limitations of the at-fault driver’s car insurance coverage, which play a big role in determining the value of the accident injury claim. The car insurance policy limitations will serve as a de facto cap on the car accident settlement process. Although such cases rarely go to trial, it can also have a big influence even when the case goes to trial. When a jury awards you an amount of money that exceeds the at-fault driver’s car insurance policy limits, you’ll only get the amount mentioned in the judgment from the insurance company depending on the driver’s limits and perhaps pursue other courses such as making a claim under your insured motorist coverage. That is what happens regardless of whether you prove that the value of damages resulting from the car accident exceed the driver’s insurance policy limits.
In normal practice, your insurance company will assess the damages caused to your vehicle after an accident in order to set an injury claim value. If your car wasn’t seriously damaged, then the insurance company may argue that you couldn’t have been hurt all that seriously. It’s prudent to seek advice from experienced personal injury attorneys to guide you in pursuing the value of your injury claim.
All the medical expenses that you incurred resulting from the car accident are supposed to be covered in determining the value of car accident case worth. In fact, the medical expenses aspect will play a big role in determining the worth of your case because other factors like pain and suffering might be difficult to quantify.
Lost income or earning capacity
Loss of income during the period when you were recuperating or any lost capability to earn an income following the car accident are also considered heavily when calculating the worth of your car accident case worth. These losses are recoverable on a compensatory basis.
Pain and Suffering
Insurers use a “multiplier” to calculate “pain and suffering” damages. When you’re involved in a car accident, you’ll go through pain and suffering from the injuries, discomfort and treatment procedures. The aspect of pain and suffering also covers the mental or psychological problems that you go through such as fear, sleeplessness, and post traumatic disorders. Even though it may not be easy or accurate to quantify the pain and suffering damages, they can greatly affect the outcome of your car accident case worth, especially in situations where the injuries required extensive medical treatment procedures.
Loss of consortium or enjoyment
When a spouse is injured in a car accident and his or her partner losses the spouse’s physical companionship, it’s considered as a loss of consortium. The effect of the accident on a relationship between spouses forms ground to determine the appropriate amount of money to be agreed upon as compensation for damages. If your personal injury attorneys succeed in proving that the injured plaintiff’s spouse has suffered a loss of entertainment, then the spouse of the injured plaintiff is awarded the claim. If your car accident has limited or denied you the chance to enjoy your hobbies or other pleasures of life that you enjoyed before the accident, you can also be compensated based on the loss of enjoyment aspect.
Time of the accident
If the insurance company proves that you were partially at fault for the accident, then it can reduce your settlement substantially. If the case goes to trial, the jury can also favor the defendant and reduce the award based on your proportionate fault.
Therefore, it’s wise to consult with your personal injury attorneys concerning the issue of ” comparative negligence” or ” contributory negligence” laws. Most insurance companies have experienced personal injury lawyers who know the intricacies of car accident lawsuits, and thus it’s prudent to consider hiring the services of a personal injury lawyer to help you with the paperwork and complex consultations with all the involved parties during the determination of your car accident’s case worth and trial process whenever necessary.