After an accident, if you are injured and the other party is at fault, then you can usually seek compensation. Often, you would file a claim and seek compensation from the at-fault party’s insurance company.
As long as you can establish that the other party is responsible for your injuries, then you need to show evidence of your injuries and damages. How does the insurance company calculate what to offer you? Do you have to accept the offer?
Medical Bills and Lost Wages
The insurance company has to calculate the monetary loss that you suffered. This includes our medical bills, lost wages and any other damages that you incurred due to your injury. This can also include any future expenses that you have to pay, such as medical bills or training for new employment. These damages are one part of the calculation.
Pain and Suffering
Pain and suffering refer to the injuries that you may have suffered because of the accident. This is not solely for physical pain, however. It also covers emotional pain, fear, depression, insomnia and a general loss of enjoyment in your life. Most personal injury cases will involve some form of pain and suffering.
Insurance companies can calculate pain and suffering based on multiplying the medical bills and lost wages by a number. This number will range between one and five and depends solely on the severity of the injury. Other insurance companies may use a per diem method. For instance, the calculation may be 100 dollars every day from the time of the incident until you reach full recovery.
Offers and Negotiations
Your insurance company is likely to offer you a settlement. You would accept the settlement if you and your attorney decide that it is a reasonable amount of money. If you do not think that it is reasonable or if the insurance company is offering too low of an amount, then you can refuse the offer and negotiate further. If you cannot settle, then you may be advised to take the case to trial. While most personal injury cases settle out of court, sometimes you can receive more if you go to trial. If you have a personal injury claim, you can expect to receive compensation from an insurance company. Without a lawyer, however, you could wind up with less than you deserve. To find out how to handle settlement negotiations, contact and consult with a personal injury attorney like Best Personal Injury Lawyer Waco Texas as soon as possible.