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My family and I were involved in a bad car accident and there are many injuries, how will the settlement be determined?
My family and I were driving in our minivan and got into a collision where we were T-boned in an intersection. The car that hit us was apparently trying to speed through a yellow light and was a few seconds late. He had slammed on the brakes and hit us at about 25mph and totaled our van. Me, my wife, and two kids all have injuries with the kids being more severe as they were in the back. We are currently waiting to hear for a settlement amount from the liable party's insurance company and I was wondering how exactly will the settlement become calculated? Should I seek the help of a lawyer?
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Answers (1)
Car Accident Settlements for Injuries are determined by two primary factors:
1. Compensatory damages
2. Punitive Damages
Compensatory damages are supposed to cover all the medical bills you've incurred, all out of pocket expesnes and "economic damages" (such as lost wages from not being able to work), and also include Pain and Suffering which may have a great deal of negotiation potential.
Punitive Damages are additional compensation you can seek if the liable driver was being reckless or irresponsible. It sounds like that may be the case in this situation.
You should definitely have a Car Accident Attorney negotiate a fair settlement for you. They will be able to expertly asses the total true value of the damages and litigate with the insurance company to recieve that full amount. Usually insurance companies will try to award as little as possible, so the assistance of a Car Accident Attorney can make a big difference. Many lawyers may also work on a "no upfront fee" basis as well and simply take a portion of the compensation you are awarded to make up for that.
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Posted by Staff Writer on 29 Jan 2010
1 person found this useful
(3 Votes)