Have you recently been involved in an accident?
If you have been involved in a car accident, you may be wondering how much you could collect for your injuries. Things to consider regarding your accident:
INSURANCE COMPANIES WILL ATTEMPT TO SETTLE QUICKLY
Car insurance companies are in business to make a profit, when a claim is made the insurance company will try everything it can to reduce your claim. We find that many people who try to deal with insurance companies without the assistance of an attorney are swayed into a quick settlement upfront.
Quick settlements may seem appealing to most, but without considering If you have serious injuries after an car accident, then the true extent of those injuries might not be known for weeks, months, or even years later. After an accident you might suffer long-term pain and suffering or emotional damage.
Injuries From Accidents May Appear Later
Injuries from an accident may appear later, many times injuries do not show themselves until days, weeks or even months later. It is important to understand the consequences of settlements with insurance companies.
It is importance to follow these steps after an accident, a proper medical diagnosis and evaluation will be considered when negotiating your settlement, in addition to actual injuries other compensations may be considered as well, such as long term pain and suffering and emotional damages.
The Average Settlement
Most Car Accident settlements in Tampa range from $14,000 to $28,000, although settlements can reach amounts as high as in the millions, it all depends on the severity of the case.
Settlements are calculated by adding up your medical bills from the hospital, clinic, doctor, and pharmacist. In addition to your actual expenses paid, injured parties can also demand a payment due to their pain and suffering as well as emotional damages, there is no set formula used, so speak to your attorney Law Office of Mahmud Yennes to discuss your best options.
The Other Parties Insurance Limit
Many people do not understand the consequences of their policy limits, depending on the limits we have we can protects ourselves in the event of an accident. For example one may opt for the minimum liability insurance policy, which only covers $10,000 for property damage. The concern here is that if damages from the accident exceed the limit, you may have to sue the driver /policy holder directly for the balance of the total damages.
Some insurance companies offer their policy holders an option to pay for additional coverage that will protect them in the event they get into an accident with one who is not sufficiently covered, the coverage is called uninsured or underinsured motorist coverage.
Pain And Suffering
Costs associated with an accident are not clearly established from the time of the accident, that is why it is very Important to be examined by a doctor immediately after the car accident. Unfortunately, many will not visit their doctors right away because at the moment they felt they have not been seriously injured.
Keep Records Of Any Other Expense You May Have In Connection With Your Accident, Such As The Hiring Of Extra Help. All Of Your Bills Should Be Paid By Check Or You Should Obtain And Keep Receipt. You Should Keep A List Of Your Medical Bills And The Costs Incurred In Going To Your Doctor.
Calculating Pain and Suffering
There is no established way of calculating pain and suffering but there are two ways in which insurance companies and attorneys calculate estimated values of an individual’s pain and suffering. As mentioned earlier the severity of the injuries will increase the amount of recovery. To calculate pain and suffering through a method called “multiple by 3” the injured party would calculate their total amount of expenses ( medical bills, car repairs, lost wages) by 3 to reach an amount that would encompass your pain and suffering as well as future medical and rehabilitation costs.
Another method of calculating pain and suffering is called “per diem” defined as the daily method rate. Here, the injured party would receive an amount of money each day or each week they suffer from the injury after a car accident. An example would be where an individual was hurt after an accident, as a result he is required to see a doctor on a weekly basis and take medication, his “per diem” rate would be $250/day.
Every situation is different and no two accident are the same, it is best to review this guide if you are involved in an accident, this will ensure you cover your basis as far as safeguarding any compensation.
As mentioned prior, pain and suffering is not an exact measurement. It can vary widely between cases. If you believe you’re owed compensation for pain and suffering after an car accident, then it may be in your best interest to schedule a free consultation with a The Law Office of Mahmud Yennes.