A motor vehicle accident is always a regrettable event in anyone’s life. The loss one has to suffer for a vehicle accident is enormous. Some losses can be measured by money like car damage, medical bill, income loss, etc. Some losses, like physical pain, trauma, and emotional distress, can’t be measured.
So, when it comes to motor vehicle accident settlement, you need to be very careful. It can be tricky to get a fair payout. Before reaching a settlement, you need to measure your loss. To do that, you need to check out all the factors and consult with your friends and lawyers.
Factors That Determine a Motor Vehicle Accident Value
There are many factors to consider before reaching a settlement. It largely depends on the damage you’ve sustained because of the motor vehicle accident and the nature of the accident. There are other things to consider, too, like road construction, weather, speed limit, etc.
Vehicle Damage
This is an easy thing to measure. You simply have to know how much it will cost to repair your car. If you have car insurance, you need to talk to your insurance company right after the accident.
Medical Bills
This one is not also too hard to determine. After an accident, you are likely to go to a hospital. There are a lot of bills to pay- hospital bills, doctor’s fees, prescription and medicine cost, and rehabilitation expenses.
Income Loss
Things are starting to get tricky from this part. You may not go to work for a while because of your accident. You may even lose your job. It’s not that simple to measure compensation for that.
And you shouldn’t just look for the opposite party for the compensation. There are many organizations out there to support you in getting your worker’s compensation. You need to check out every little detail to get your compensation from your company.
Suffering
The pain and suffering after an accident can’t be measured in money. An accident doesn’t only cause physical pain and damage but also causes trauma, distress, and anxiety. The family of the victim has to suffer too. Though it’s not easy to pinpoint a number for sufferings, follow the standard protocol to deal with something like this.
Disfigurement and Disability
The settlement case would go to a new level if the accident caused some disability or disfigurement. If something like this happens, you shouldn’t lose your patience.
Tips for Getting a Fair Settlement
Now that you know the key factors to determine the settlement amount, here are some few tips to get that-
Perform a Thorough Investigation
When the accident occurs, there might be nobody you know around you. I know you would be in a lot of pain and distress, but you need to keep your cool after the accident. What you do right after an accident is very crucial to get a fair settlement. There are things to consider right after a motor vehicle accident.
Keep All Documents
If you go for a settlement, you need to handle a lot of papers and documents. There are police reports, medical reports, medical bills, prescriptions, insurance papers, damage reports, and the list would go on. You need to keep a record of everything. You never know what could come handy in what situation.
Never Accept the First Offer
Some people love to keep things simple. They don’t want to go to court even for a more significant amount of settlement. But, it would help if you didn’t accept the first offer the opposite party gives. You need to wait and measure your loss first and then negotiate with them.
Consider Consulting a Lawyer
If you want a fair settlement, you need to consult with a personal injury lawyer immediately. You may think hiring a lawyer would be costly. You can contact a law firm and consult your case with them. If they tell you that you have a strong case, you can go further with your case.
The Bottom Line
It’s never an easy job to measure the amount of a motor vehicle accident. It depends on many things. What seems fair to one may not seem so to another individual. That’s why you need to consult a lawyer and let him/her negotiate the settlement case.
