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Many people accept the first offer from the insurance company because they want to resolve things as quickly as possible when involved in an accident. However, doing so often limits the potential payout in a personal injury claim.
Working with a car accident lawyer may make it easier to evaluate the initial offer and negotiate for something better. Those involved in an accident should consider hiring an auto accident lawyer for assistance with claims, especially if they sustain an injury in the crash.
With over 5.1 million car accident injuries in the US in 2022 (per the National Safety Council), the national financial ramifications of these incidents are staggering, and legal support may offer the best chance at compensation. Injured parties should learn more about the benefits of holding out for better offers under the guidance of a car accident lawyer.
Video Transcript:
Ever wonder how they come up with those big settlement numbers? Let me explain how personal injury claims are calculated. Personal injury claims basically follow the same pattern no matter what the injury is, what causes the injury, whether it's a car accident, a slip and fall, a trip and fall, any other type of product defect case causing an injury, the evaluation and calculation of damages is always the same.
Let's take a car accident case, the most typical type of personal injury case. In a car accident case, the first thing we're going to do is look at who caused the accident. Is it extremely 100% clear that the other person was the sole cause of the accident or are we dealing with a situation where our client is partly at fault also? or in some cases we have multiple defendants that contributed to the cause of the accident.
First we're dealing with fault. Oftentimes it's 100% the fault of the other driver. Let's say in a car accident case in Florida we follow something called a contributory fault which means that even if the driver admits that they're at fault they can also claim that our client was partly at fault themselves. So that gets taken into account.
The second thing that is put into the evaluation and calculation of a personal injury claim is the amount of your damages. And your damages are essentially broken down into economic damages and non-economic damages. And the economic damages are generally medical bills up to the date of a settlement. We call those past medical bills and then a calculation of what your future medical bills are going to be as a result of your injuries.
So, we're taking all of that past and future medical bills into account. We're also taking into account the extent of your lost wages. And when we go to resolve your claim or settle your claim, anything from that day in the past is called past lost wages. Anything in the future that you haven't yet lost but are expected to lose is called loss of earning capacity.
A perfect example would be a client who works a manual labor job. Let's say they build homes. They're a brick layer. And as a result of the accident, they can no longer be a brick layer making $50,000 a year and they don't have the other educational background to go out there and do a job making the similar amount of money. So those clients sometimes have a loss of earning capacity. They're not going to be unable to work for the rest of their lives. They're just going to be unable to make as much as they did prior to the accident.
We calculate that loss of earning capacity. We use experts such as vocational rehabilitation experts to help us determine what the loss of earning capacity is. And then to calculate those damages, we also bring in an economist which is required under the law to bring all of that future loss of earning capacity back to present value.
Those are the economic damages, the medical bills and lost wages, past and future. Then we have the non-economic damages that are broken down into what is generally referred to as pain and suffering. But in Florida, pain and suffering is really seven different elements. You’ve got compensation for your pain, your suffering, your mental anguish, your inconvenience, your loss of enjoyment of life, and your disability and scarring. Pain and suffering is the term we commonly use, but it’s really seven different elements.
We then also figure out what your past pain and suffering is worth. We also work with your doctors and other experts, we figure out what type of non-economic pain and suffering damages you're going to have in the future. So that goes into the evaluation of your future pain and suffering.
So all of those things start with how the accident happened. One of the things that are really important in car accident cases is what does the damage look like to the cars? Is it just a tiny dent on the bumper or is your car total? All of those factors go into the evaluation and calculation of damages in a personal injury claim.
If you have any other questions regarding the calculation or worth of your personal injury claim, please give me a call at 813-915-1110. I'll be happy to discuss it with you. The consultation's always free. We can do it over the phone. I'll be happy to answer any questions you might have.
Why You Should Not Accept the First Offer From an Insurance Company
There are a few critical reasons why it is best not to accept the first offer unless a vehicle crash lawyer advises it.
First, an insurance company’s ante is often a lowball offer. The company saves money by minimizing its payout and paying less than the full damages owed. It may also use pressure tactics, including phrases such as “best and final offer,” to encourage injured parties to accept.
Combatting this pressure by holding out for a better settlement in line with the amount detailed in your policy could lead to a fairer outcome.
Additionally, this offer might be based on an inadequate assessment of costs. Personal injuries often yield hidden or long-term costs beyond the initial medical treatment. It is critical for those affected to bring any missing costs to their adjuster’s attention to ensure fair compensation.
An attorney can help you identify hidden costs that you might not think about in the immediate aftermath of an accident.
When you don't accept the first offer, you also create negotiation leverage, and that allows you to request a higher settlement. While there is no guarantee that this will result in a higher payout, it presents an opportunity that is otherwise lost when accepting the first offer.
How Can a Car Accident Lawyer Help?
After sustaining an injury during a car accident, hiring a personal injury/car crash lawyer is important. These experienced professionals can assist you with filing insurance claims and negotiating offers to ensure the final payout includes the appropriate damages. These attorneys are familiar with the state and federal requirements for insurance companies and understand how much flexibility comes with the initial offer.
A motor vehicle collision attorney will assist those injured in car crashes in pursuing economic and non-economic damages. They can ensure insurance companies do not downplay the injuries or attempt to lowball settlement offers. These professionals can also represent injured parties in court if a settlement is not possible (while a hearing is rare for personal injury cases, it is always wise to work with a prepared attorney in case the situation escalates).
Those involved in a car accident should immediately seek the appropriate medical treatment and ensure their safety. During this process, victims should carefully document the accident and their medical treatment in detail. These documents will provide evidence for a car accident lawyer to solidify claims.
Consult Hancock Injury Attorneys After a Car Accident
Hancock Injury Attorneys offer legal counsel to those injured in a car accident. Our experienced attorneys can support you or your loved ones through the aftermath of a life-changing personal injury and assist you in seeking the appropriate compensation.
Call 813-915-1110 to schedule a free consultation today.