What factors affect the value of a car accident claim?

gavel and stethoscope

When you are involved in a car accident, you may think that determining the value of the collision is as simple as compiling the mechanic bill for your vehicle, your medical bills, and lost wages to get the total amount. However, many things can impact the funds you receive. Familiarizing yourself with these different elements that impact the value of a car accident claim is crucial to ensuring you receive the funds you are entitled to when injured by a negligent driver. The following blog explores these factors in more detail and explains why it’s in your best interest to consult with car accident attorneys to help you get the representation you deserve.

Which factors affect the value of a car accident claim?

Many factors can impact the settlement amount if you are involved in a collision. Generally, the most significant factor is the type of injuries you endured and the severity. If you require extensive medical treatment, like surgeries, extended hospital stays, and continual rehabilitation efforts, you’ll recover more in your settlement amount. This is because the total cost of your medical care will be documented and taken into consideration to help pay for the treatment you’ve received. Additionally, any wages you’ve lost because you’ve missed work because of the accident will be considered.

Aside from medical bills, your emotional damages will also be factored into the award you receive. However, these are harder to determine because there is no actual monetary value associated with these subjective damages. Generally, the losses you’ve suffered will be placed on a scale between 1-5, with five being the most egregious and life-altering. Then, your economic damages are multiplied by the number assigned to your suffering, aptly named the multiplier method.

What can I do to help my case?

One of the most important things you can do to help ensure you recover the funds you deserve is to avoid social media following the collision. Unfortunately, many people make the mistake of taking to their platforms after the accident, not realizing they are often closely monitored by the defendant’s insurance and attorney.

As such, if you post photos of yourself enjoying a concert or playing a sport taken after the accident, they will use this to reduce the compensation you receive since your injuries weren’t severe enough to deter you from your usual activities. It’s in your best interest to avoid social media. You should even tell friends and family not to tag you in photos.

When hurt in an accident, doing everything you can to recover the compensation you deserve is essential. Unfortunately, many are unaware of the importance of hiring an attorney. At Friedman Schuman, we understand how complicated these matters can be. That’s why our team is ready to fight for the compensation you deserve when your life is changed by a negligent driver. Reach out today to discuss the details of your circumstances with a member of our compassionate team.

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