​There is no simple answer to how much to expect from a car accident settlement. The truth is settlement values vary from one car accident victim to the next. Furthermore, the settlement you receive may not be the same as the one you expect—it can be more or less, depending on your lawyer’s effectiveness.

You have a right to expect fair compensation from a car accident settlement, though. Accident victims should get the money they deserve. By researching and finding an experienced car accident lawyer in Cape Girardeau for your case, you can position yourself to get a fair settlement.

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What Determines the Value of a Car Accident Settlement?

A lawyer will measure the cost of each of your damages. This is the clearest answer to “What determines the value of a car accident settlement?”

However, several factors tend to affect the cost of a car accident, including:

• The type of accident: Some accidents tend to be particularly violent, increasing the risk of serious (and costly) injuries. For example, head-on collisions account for about 10 percent of fatal accidents, which is disproportionately high based on the total number of head-on collisions.

• The speed vehicles were traveling when the accident happened: The faster vehicles are traveling at the moment of impact, the more severe the collision tends to be. A high-speed collision can put immense strain on your body, and motorists that strike others at a high rate of speed may be responsible for severe injuries.

• The type and severity of injuries: The specific injuries and severity of symptoms you suffer will be a crucial factor in your settlement value. The cost of medical care can depend on such factors.

• The extent of damage to your vehicle: If your vehicle suffers total damage, the cost of property repairs may be significantly more than if your vehicle suffers only partial damage.

• Whether any victims died due to accident-related injuries: If your loved one died because of accident-related injuries, your lawyer must factor this into your case. A wrongful death leads to several damages that are not part of non-fatal car accident cases, like funeral expenses and grief counseling.

Your lawyer will consider the entire picture of your accident as they determine your settlement value. Considering aggravating factors, like disabling injuries and substantial property damage, will be part of your lawyer’s process.

How Do You Calculate the Value of a Car Accident Settlement?

It’s easy to say that a car accident victim deserves compensation equaling the cost of their accident-related damages. However, calculating those damages is not as easy as one might think.

Car accident victims suffer two primary types of damage:

1. Non-economic damages (also known as general damages)
2. Economic damages (also known as special damages)

Economic damages typically have a more straightforward value than non-economic damages. However, even calculating economic damages can prove challenging.

To determine the value of your economic damages, your attorney will likely:

• Keep a running tally of your medical expenses
• Work with automotive professionals to determine the cost of vehicle repairs
• Compare your past payment statements to determine how much income you have lost because of your car accident
• Identify and calculate your other economic damages

Calculating the cost of non-economic damages is difficult for non-lawyers. However, attorneys often rely on established mathematical methods, including the per diem and multiplier methods. 

With the per-diem method, your lawyer will assign a daily value to your pain and suffering for each day you experienced it. The multiplier method considers the severity of your injury and multiplies your economic losses accordingly to reach a non-economic calculation. The more severe your injuries, the higher the multiplier.

These are details that you can leave to an attorney. They may use the same calculation methods for every client they represent. If you have reason to trust a law firm, you can trust how their lawyers calculate settlement values.

Recoverable Damages That a Car Accident Victim May Deserve Money For

An attorney will identify each of your damages and determine the monetary value of each. Accident-related damages typically increase in cost with the severity of injuries. Your lawyer must determine how much your injuries (and related damages) cost, then fight for a fair settlement.

Damages frequently associated with car accidents include:

Medical Expenses

Getting medical attention is the first advice anyone should give a car accident victim, but medical care is neither free nor cheap. The expense of accident-related medical care is one reason victims turn to an attorney to fight for fair compensation.

Medical costs may arise from:

• Emergency transport
• Emergency care
• Hospitalization
• Surgery
• Medications
• Medical imaging services
• Rehabilitation

Your lawyer will consult medical professionals to understand your injuries and treatment needs. If you have ongoing symptoms, your lawyer will monitor your recovery and make all necessary calculations to project future medical costs.

Pain and Suffering

Civil courts in the United States allow car accident victims to seek fair compensation for their pain and suffering.

This category of damages can cover psychological, emotional, and other types of harm, including:

• Physical pain from injuries
• Emotional distress
• Psychological pain
• Difficulty sleeping
• Loss of physical or cognitive abilities
• Specific conditions like post-traumatic stress disorder (PTSD), depression, and anxiety

The National Institute of Mental Health (NIMH) specifically cites serious car accidents as a common cause of PTSD. You should work with mental health professionals to diagnose and treat your PTSD or other mental effects. Your attorney can then consider these treatment costs and mental conditions when they value your pain and suffering.

Work-Related Damages

Injuries from car accidents can interrupt your professional life.

Potential work-related damages from car accidents include:

• Lost income
• Reduced earning power
• Lost bonuses
• Missed promotion opportunities
• Forfeiture of employer-matched retirement benefits

When injuries from a car accident are disabling, the victim may permanently lose their ability to earn a living. Your settlement should reflect the cost of your professional damages.

Psychological Treatment

If your pain and suffering require psychological treatment, including counseling or medication, your lawyer will gauge the cost of your treatment.

Property-Related Expenses

Property expenses from a car accident may include:

• Vehicle repairs
• Replacement of a totaled vehicle
• Temporary transportation
• Replacement of damaged electronics, clothing, jewelry, and other damaged property

A good lawyer will account for every accident-related damage, whether it is economic or non-economic.

Wrongful Deaths

It is tragic when car accidents, and the negligence that leads to those accidents, cost someone their life. If you’ve lost a loved one to a wrongful death, you may face medical bills, pain and suffering, property expenses, and other damages.

How Insurance Companies May Challenge Your Settlement Demands

Insurance companies sometimes act in good  faith, paying their policyholders (and their policyholders’ victims) the money they deserve. However, insurance companies benefit financially by paying as little money as possible.

It should not be surprising for a car accident victim to encounter bad-faith insurance tactics, including:

• Contesting fault: In some states, the at-fault motorist must cover accident-related losses. More specifically, their insurance company must cover accident-related losses. Therefore, an insurer may have an obvious financial motivation to claim you caused your accident. Your insurer may make the same claim if it benefits them.

• Claiming injuries are not accident-related: Auto insurance companies must only cover damages related to an accident. This means that when insurers have any justification for doing so, they may claim that injuries are unrelated to a car accident. An insurer may claim that injuries were pre-existing or that you waited too long to get medical attention after the accident.

• Contesting specific losses: An insurance company may contest the accident connection or value of certain accident-related losses. This can include medical procedures, lost income, or any other losses you are seeking money for.

• Delaying a claim: Most states have a statute of limitations for filing personal injury and wrongful death lawsuits. Insurance companies may delay the processing of a claim because your lawyer may lose crucial leverage in negotiations if the statute of limitations expires.

• Playing hardball during negotiations: A tried-and-true tactic of insurers is offering a lowball settlement and not budging. To combat this tactic, you may hire a lawyer to take a similar hardball approach during settlement negotiations.

Insurance companies are well-equipped to negotiate—insurers fight claims day in and day out. You may want to hire an experienced lawyer who is also a seasoned negotiator. This way, you’ll have a legal representative well-equipped to fight for the settlement you deserve.

Should I Hire an Attorney to Fight for a Fair Car Accident Settlement?

It is your decision whether to hire a lawyer. Before you make this decision, you should understand the potential benefits of hiring an attorney.

Car accident victims hire lawyers because:

• Lawyers bring much to the table: An attorney will complete the day-to-day responsibilities of an insurance claim or lawsuit. Lawyers also bring experience, legal knowledge, and other benefits that are difficult to put a price on.

• Accident victims are often in physical and psychological pain: Even accident victims who might normally handle their own claim or lawsuit might turn to a lawyer after suffering injuries. The physical and psychological pain from injuries can make managing the most basic tasks difficult. Complex, stressful tasks like negotiating with insurance companies may be beyond your capabilities.

• Accident victims often lack legal experience and knowledge: Experience is beneficial when leading an insurance claim or lawsuit. Therefore, lacking relevant experience with claims or lawsuits can negatively affect your financial recovery.

• Hiring a lawyer can be financially advantageous: A personal injury law firm will accept the financial risk of your case. The firm will pay for all case-related costs, including expert and filing fees. Without a law firm backing you, these costs may fall on your shoulders.

If you are most concerned with your recovery, you should consider hiring a lawyer. This will allow you to spend as much time as possible receiving treatment, resting, and following other recommendations from your doctor.

How an Attorney Can Fight for You

A lawyer will lead your claim or lawsuit from start to finish. They will keep you updated throughout dealings with insurance companies, as early negotiations may determine whether a lawsuit is necessary.

Your lawyer’s services will include:

• Gathering any evidence that can be relevant to your claim or lawsuit
• Documenting your damages
• Collecting witness statements
• Working with experts, who may testify about fault, support your lawyer’s account of your damages, reconstruct the accident, or help in other ways
• Negotiating with insurance companies
• Determining whether to pursue a lawsuit

Communication is pivotal in car accident claims and lawsuits. Your lawyer will keep you informed as your case evolves, and you should have a clear voice in resolving your case.

How Much Will It Cost to Hire a Car Accident Attorney?

Personal injury lawyers generally use contingency fees. Rather than paying out of your pocket when you hire your lawyer, you will agree to give the law firm a portion of your financial recovery.

This fee structure prevents you from worrying about how you’ll pay for a lawyer. The law firm will take the risk and seek to get the compensation that pays you and the firm fairly.

Research and Contact Car Accident Lawyers as Soon as Possible

Remember that you have deadlines related to your case, so don’t wait to get legal assistance. Research local Cape Girardeau personal injury lawyers, find a firm with strong results and positive reviews and let them start your case. You can stop wondering what to expect from your settlement and learn about your rights from an attorney.