If you have suffered personal injury, damage to your vehicle, or damage to other property in a vehicle accident, you may be wondering how much compensation you can get by filing a claim or a lawsuit. If the party at fault for the accident is covered by insurance, that insurance company may offer a settlement amount based on what they decide adequately covers the damages. The damages will typically account for physical and mental harm, as well as the financial cost of medical bills, damaged property, lost wages, and pain and suffering. Pain and suffering encompasses the physical trauma and emotional hardship you undergo as a result of an accident. However, it can be hard to determine if the insurance company is settling for a fair amount.
What Is a Fair Compensation Amount?
The most common way to get a ballpark figure for how much your damages are worth is the multiplier method. You start by adding up all of the costs of the accident, including medical bills (both past and future), vehicle damage, property damage, and lost wages. You then multiply that figure by a multiplier – typically between one and five – that accounts for the egregiousness of the damages. It is this multiplier that accounts for your pain and suffering. For example, if you suffer from mental anguish that impacts your daily activities and quality of life, you would want to apply a larger multiplier.
Additional Compensation Opportunities
In addition to the general damages discussed above, you may be eligible to seek punitive damages if the at-fault party engaged in behavior determined to be gross negligence, deceit, or intentional misconduct. Punitive damages are a form a punishment for acting in a repugnant manner that contributed to the cause of the accident. They are awarded independently of the damages to you, as they are meant to punish and deter behavior rather than compensate you for loss. A judge can award punitive damages if the lawsuit proceeds to court.
How Accident Attorneys Maximize Compensation
Reaching a settlement after an auto accident requires careful analysis of the case. By scrutinizing the factors involved in the accident, your attorney can maximize the eventual compensation amount. As your legal team accurately calculates the full extent of damages (including medical expenses, lost wages, pain and suffering), attention to detail is crucial.
Disputes over these factors are common however, with many insurance companies offering inadequate damages. To overcome these challenges an attorney will draw on the knowledge gained from years of experience and similar past cases. Ultimately, the success of a personal injury claim will come down to building a robust case that demonstrates the other party’s negligence in causing the accident.
The Compensation Process After a Road Accident
The process of seeking compensation for an accident usually begins with an initial consultation with an attorney. During this consultation, the details of the accident and the extent of the injuries are discussed. Next, your attorney will gather evidence that supports a solid case, including medical records, witness statements and expert testimonies.
To resolve the dispute quickly, your North Texas personal injury attorney will pursue a negotiated settlement with the insurance company. However, when fair compensation cannot be achieved it may be necessary to file a lawsuit. The timeline for this process will vary depending on the complexity of the case, and can range from a few months to several years. In most cases, a claim is resolved without the need to go to trial.
Secure Compensation With Our McKinney Auto Accident Attorneys
If you have suffered injuries from an auto accident in North Texas, speak with the personal injury attorneys at Lucé Law, PC. With over 38 years of experience, Joe Lucé and his team build strong legal cases and secure compensation for our clients. To discuss a personal injury claim call (972) 632-1300, or request a free legal consultation now.
