What Is A Fair Settlement In An Auto Accident Case?

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Motor vehicle accidents may result in severe injury or significant property damage. If you have been the victim of an auto accident, you may be entitled to compensation.  

If you have been injured in a motor vehicle accident, Zinda Law Group personal injury attorneys are here to assist you with your auto accident claim. Our attorneys have the experience necessary to help guide you through each step of the legal process. Call Zinda Law Group today at (800) 863-5312 for a free consultation. We may be able to help get you the maximum amount of compensation available in your case.

Factors that influence getting A “FAIR SETTLEMENT” IN AN AUTO ACCIDENT CASE

If you have been injured in an car accident, you will likely be wondering: “How do I know if I got a fair settlement?” It is not surprising that an injured person’s idea of a “fair settlement” is invariably different from the idea of the insurance company who is responsible for paying it. Below are some factors for the victim to consider when determining the meaning of a “fair settlement” from an insurance company.

Actual Damages

Actual damages are those damages that a person may quantify with a receipt, invoice, tax return, or another kind of supporting documentation. Another example may be a medical bill or other medical record. However, if the injured individual has private health insurance, or if part of the bill has been written off, a jury may only be allowed to see a portion of the total bill. In theory, a smaller number of actual damages may mean a smaller overall award from the jury. Insurance companies will typically take this into consideration when settling or determining a settlement amount for your claim.

Venue

The venue is the geographical location where the lawsuit has been filed. Venue is important, as it will determine the jurors who will hear the case and who may ultimately be asked to make an award. Further, a case that may be worth a small amount in one county may be exponentially more valuable in another county.

Insurance companies and personal injury attorneys are keenly aware of this and will value their cases accordingly. Insurance companies spend a great deal of time determining the risk of the venue and may choose to dig in their heels in a county they see as favorable. Conversely, a lawyer representing an injured person may do the same in a county with a history of large jury awards.

The Injured Party

A large emphasis is placed upon the question: “Who is the plaintiff?” during the course of litigation. The plaintiff’s medical history, claims history, lawsuit history, personal background, and much more may all be discovered by the opposing party.

If the opposing party feels that it can attack a witness’s credibility, dispute the severity of the injuries claimed, or otherwise refute the plaintiff’s evidence, the value of the plaintiff’s case may be negatively affected. It is very important, therefore, for an injured party to share every detail with his or her personal injury lawyer. No detail is unimportant, and all details may be managed if disclosed early on in your lawsuit process.   

Hiring a Law Firm

When filing a lawsuit, you should choose a law firm with a reputation for aggressive and competent representation. This step is important, as it may prove to be a huge factor affecting the value of your unique case. Plus, insurance companies may pay more money on cases handled by law firms they see as a bigger threat.

“Fair settlement” is a term of art that will fluctuate depending on the factors above. There is no hard and fast measurement to determine what is fair; however, hiring a law firm with a proven record, such as Zinda Law Group, can greatly increase a settlement offer in your case.

WHAT KIND OF COMPENSATION MAY I RECEIVE?

The kind of compensation you may be eligible to receive depends on the severity of your injuries, property damage, type of accident, and more. Further, you must be able to show that another individual is at fault for the accident. Zinda Law Group personal injury attorneys have helped countless auto accident victims get fair settlements for their auto accidents cases, including compensation for their injuries.

There are three main kinds of damages that you may be entitled to receive:

Economic Damages

The first type of potential compensation is referred to as “economic damages.” These damages are meant to compensate the victim for their actual, monetary, losses. These damages are typically added by combining receipts, bills, and other kinds of invoices relating to your accident. Examples of economic damages may be medical expenses, lost earning capacity, and household services:

·        Medical expenses

Medical expenses are the costs that you are responsible for paying due to any injury sustained from the accident. For example, this may include pharmaceutical costs, surgery fees, your hospital stay, and any future medical expenses. Your need for future medical expenses may be proven by expert testimony given by your treating physician.

·        Lost earning capacity

If you are able to prove that your ability to earn money has been impaired due to your injuries, you may be able to recover damages in the form of lost earning capacity. In order to prove lost earning capacity, you may need to present expert testimony. The expert may then consider your age, health, education, training, past earning capacity, and more in order to determine if there has been a loss in your earning capacity.

·        Household services

Household services are those expenses that the victim has suffered after being forced to hire another individual to help with day-to-day household needs while the victim is recovering. This may include pet-sitting or cooking. Typically, these damages will only be recovered if the victim would not have incurred these expenses if he or she had not been injured.

Non-economic Damages

Non-economic damages are more subjective when compared to economic damages. These kinds of damages are not as easily added by combining out-of-pocket expenses, but are instead determined by a jury in a case-by-case basis. Non-economic damages may include:

  • Pain and suffering
  • Emotional anguish
  • Reputational damage
  • Loss of enjoyment of life
  • Loss of consortium
  • Loss of enjoyment of activities

Catastrophic accidents may cause the victim severe pain or mental anguish when performing everyday tasks that he or she used to be able to do quite easily or with enjoyment. For example, a victim may have enjoyed cooking before his or her injury. After the accident, the individual may no longer be able to stand for long periods of time, making cooking difficult or painful. That individual may be entitled to compensation for his or her loss of enjoyment of cooking.   

Punitive Damages

Punitive damages are less common than economic or non-economic damages. Unlike the other types of compensation, punitive damages are not meant to compensate the victim for their loses; instead, punitive damages are meant to punish the wrongdoer and to discourage others from making the same illegal or illicit choices. Punitive damages are typically only given in extreme cases and should not be expected from every lawsuit.

If you have been the victim of an automobile accident, you may be entitled to compensation. An experienced auto accident injury attorney at Zinda Law Group may be able to help. We have the experience and ability to investigate your case, determine who is at fault, and to help get you the compensation you deserve for your motor vehicle accident injuries and property damage.

WHERE ZINDA LAW GROUP PRACTICES

Zinda Law Group personal injury attorneys are located in offices nationwide, practicing in various regions across the United States. Founded in Austin, Texas, we now have teams across Texas, such as in Dallas and Fort Worth. Our attorneys also have offices in many other big cities, such as:

  • Denver, Colorado
  • Boulder, Colorado
  • Santa Fe, New Mexico
  • Miami, Florida

Contact one of our experienced attorneys today to discuss your auto accident-related personal injury case. We may be available in your state to begin your unique lawsuit.

CALL A ZINDA LAW GROUP PERSONAL INJURY LAWYER TODAY TO HELP YOU WITH YOUR AUTO ACCIDENT CLAIM

There are many different causes of motor vehicle accidents, resulting in a wide range of injuries and property damage. Zinda Law Group personal injury lawyers are here to help. We have helped numerous individuals get the compensation they deserve for their injuries, and we may be able to help you or your loved one as well.

Fair compensation for you and your family

Zinda Law Group auto accident lawyers have the knowledge and experience necessary to help get you the compensation you and your family deserve for your injuries and property damage. Our attorneys have the ability required to negotiate on your behalf and fight for you in front of a judge if a favorable settlement cannot be made. Contact one of our automobile injury attorneys today at (800) 863-5312 to discuss your unique case. Further, you do not pay us anything unless we are able to win your case. That is our No Win, No Fee Guarantee.

Meetings with attorneys are available by appointment only.