Determining Damages in a Car Accident
Car accidents can be a very stressful experience for many individuals. These accidents can cause injuries that range from minor cuts and bruises to life-threatening injuries. According to the Association For Safe International Road Travel, about 2.35 million individuals are injured in automobile accidents each year. Aside from physical suffering, individuals can also suffer emotionally and financially after being involved in a car accident. The National Center for PTSD reported that about 8 million adults have PTSD during a given year. This occurs when an individual experiences intense trauma such as a dangerous vehicle accident. No matter if an accident victim is suffering physically or emotionally, all individuals have a right to recover compensable damages based on certain formulas. Injured victims fight for the maximum amount of compensation to help with all of their financial burdens.
Formula Used To Determine The Value
Insurance companies utilize a special formula to determine the amount of compensation that should be paid in an injury claim. Many factors play a role in determining the exact amount of compensation someone should receive. Injured victims should have a good understanding of how insurance adjusters determine the amount of compensation they are willing to pay so they can confidently negotiate for the compensation they are entitled to. According to the formula that insurance adjusters utilize, the liable party must compensate the injured party for the following:
- Lost income due to missed work because of the accident.
- Pain and suffering.
- Medical care and related expenses such as therapy.
- Emotional damages.
- Permanent disability.
It is fairly easy to calculate the financial damages from a car accident in terms of lost wages or vehicle damages, but there is no exact method to determine the dollar amount of pain and suffering. It is also difficult to put a dollar amount on lost opportunities and loss of enjoyment. Insurance adjusters will utilize a formula to determine an amount. The insurance adjuster will add up the total medical expenses related to the injuries. Then the adjuster will determine a compensation amount for pain and suffering. To do this, they will multiply the amount of medical damages by one and a half to three times for minor injuries and up to five times for severe and long-lasting injuries.
Factors That Affect The Value Of A Claim
Many different factors play a role in determining the value of a claim. Insurance adjusters will utilize different formulas to determine a compensation amount. Some factors that could impact the value of an automobile accident claim include the following factors:
- The length of medical treatment.
- The type of injury sustained.
- The number of therapy sessions.
- The recovery period of all of your injuries.
- Permanent effects of the injury.
- The medical evidence surrounding your injury.
Finding An Arizona Automobile Accident Attorney
Car accidents can lead to a great deal of stress in an individual’s life. You don’t have to go through this overwhelming time by yourself. The auto accident attorneys at ELG want to help you explore all of your legal options. Our attorneys will utilize special tactics to determine the best claim to file on your behalf. Let us help you fight for the compensation you deserve. Set up a consultation with our team of knowledgeable Phoenix attorneys to learn more about your legal options. Contact us today at either Phoenix or Mesa Arizona law offices at (623) 877-3600.
