I have been offered a settlement from the at-fault insurance company representing a driver that hit my car and injured me. How do I know that I'm receiving a good settlement?
I have been offered a settlement from the at-fault insurance company representing a driver that hit my car and injured me. How do I know that I'm receiving a good settlement?
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Answer:
Determining the value of your case involves several factors including the cost of your medical injuries, the damage sustained by your car, and any wages lost because of your injuries. The insurer's claim adjuster also may look at more subjective factors such as the severity of your injuries and whether you contributed to the accident in any way.
How a car accident settlement is calculated depends on the auto accident laws of the state where the incident occurred as well as the established protocols of the at-fault insurance company. For example, a general settlement might offer two or three times the medical liability plus any additional damages.
When preparing a demand package, you should provide any documentation that supports your demand claims including proof of pain and suffering; proof of lost wages; and proof of car damages. In the case of a death arising from the accident, you should also include a demand for a wrongful death settlement.
Talk to an Attorney experienced with car accident settlements to determine the actual value of your car accident claim.
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Posted by Sharon Cullars on 03 Jun 2010