How Much Is My Car Accident Settlement Worth?

After suffering an injury in a car crash, you probably want to know “How much is my car accident settlement worth?” It depends on many issues that are unique to your case. The Wininger Law Firm, LLC does our best to ensure that each case is worth as much as possible. Our clients deserve all the compensation they can get.

Many factors go into determining what your car accident case is worth. The bottom line is it’s worth what you and the insurance company agree to. There are several paths a car accident case can take that impact the amount of a final settlement or when that settlement check comes:

  • One person may be desperate for money or has no interest in taking a case to trial. In this case, the value is less because the client is eager to put the claim behind them.
  • Another person may have money saved and can weather the financial storm the accident causes. He or she is willing to wait until the insurance company increases its offer. In this case, the settlement amount could be higher.
  • A client could be eager to go to trial. He or she is willing to push the insurer to the limit and risk possibly losing at trial.

How Insurers Approach a Settlement Can Impact How Much It Is Worth

Insurers take different approaches to settlement. One company may offer more than another. Some will fight for every penny they can save. Others see the value of making reasonable settlement offers to avoid the time and cost it takes to drag out a case.

Your best course of action to get the best settlement out of your car accident case is to work with an experienced car accident lawyer. A seasoned attorney will be skilled at negotiations and understand when you may be well positioned to take a case into litigation in court.

What is the Value of My Car Accident?

When you think about “What is the value of my car accident?” there are many things to consider.

Who caused the accident?
We investigate every case to find evidence showing how the crash happened and who caused it. Under Alabama law, if evidence can prove you played a role in causing your accident, your case would be dismissed. If you made a mistake that led, in some way, to the crash, your settlement is not worth much. Depending on the evidence, it may be worth nothing.

If the evidence shows that others caused the accident, that builds your case’s value. Not only do you want strong, clear evidence that the other party was at fault, more than one other party to blame helps, too. The more parties there are trying to settle your case, the higher the value of your car accident claim and the more money you may receive.

How severe are your injuries?
The greater the injury, the longer it lasts, and the more it disables you, the more the settlement value goes up. You may want a lot of money, but the last thing you want is the kind of injury you need to get it. Partial or total paralysis or severe brain damage usually results in very high settlement. Suffering chronic pain or limitations increases your case value. More minor injuries are worth less. Injuries are not just physical. If you’re dealing with emotional or psychological issues due to the accident, they’re considered, too.

What are your medical bills?
“How much can I get from my car accident settlement?” can be partially answered by the amount of your medical bills. Medical costs are used to measure the severity of your injuries. The higher the costs, the higher the case value. This includes all the costs of everything to help you since the accident. It can start with the ambulance ride and includes hospital stays, appointments, surgeries, medications, rehabilitation, devices, and occupational and physical therapy.

How much medical treatment will you need in the future?
You may have a very short or long recovery time. Some of our clients need medical care and rehabilitation services for the rest of their lives. Getting back to normal may be very simple, or it may be complicated. Medical care is very expensive. The more you’ll need, the greater the settlement value.

How much work have you missed because of the accident? Will you be able to return to work?
Lost wages are part of the settlement. You should be reimbursed for the days, weeks, or months you were away from your job. You should be compensated for losing your job and having no income. If you suffer over the long term from your injuries and you’ll earn less or nothing at all in the future, that loss brings up your settlement amount.

How strong is your case?
Evidence is the gasoline that runs the engine powering your claim. The higher the quality and quantity of evidence supporting your claims that the other party is at fault and that you suffered severe injuries, the more your car accident case is worth. The possibility of going to trial may make the insurance company offer more money. If your evidence so weak that a successful trial is a long shot, the insurer will offer less.

Do you have any earlier claims?
If you have made many accident claims, an insurance company may believe you’re not acting in good faith. This may result in a lower car accident settlement offer or no offer at all.

How much property was damaged?
How much will it cost to repair or replace your vehicle and personal property inside it during the crash? These costs are part of your claim and impact the value of your car accident case.

What are the limits and exclusions on the other party’s insurance policy?
The insurance company will offer only up to the policy limits of the person’s coverage. The value of your car accident claim usually won’t exceed the limit. It’s possible that what you want is more than this limit. The accident may also have happened in a situation not covered by the policy. If the other driver hit you while committing a crime or trying to escape the police, the accident probably won’t be covered. In situations where insurance limits and exclusions are issues, it helps if there’s more than one other party at fault. If so, there could be many insurance policies that might cover your injuries and losses.

How Much Can I Get from My Car Accident Settlement?

Talk to an attorney at The Wininger Law Firm, LLC, so we can discuss some of the things that go into coming up with a settlement. If you want to know “How much can I get from my car accident settlement?” providing us with information on the issues above can help us give you a more specific estimate. We want to help with your accident claim. Call us at 205-322-3663 today.