How Do I Maximize My Car Accident Settlement?
- A car accident settlement can compensate you for the financial, physical, and emotional losses you’ve suffered.
- Many factors can influence your car accident settlement value, such as injury severity and liability.
- The insurance company’s goal is to pay out as little money as possible, so it’s crucial to know how to maximize your car accident settlement.
- Hiring an experienced car accident lawyer can greatly increase your chances of getting a higher settlement amount.
- Maximizing your car accident compensation involves seeking medical attention, collecting evidence, being cautious when interacting with insurers, and considering all of your options.
A car accident can result in profound financial, emotional, and physical damages. It may also leave you wondering, “How do I maximize my car accident settlement?” If someone else’s negligence caused your accident, you may be eligible for significant compensation through a car accident insurance claim or lawsuit. Though no amount of money can fully undo the trauma of an accident, a fair settlement can help you move forward with your life.
Safety comes first after a Tennessee car accident. Once you’ve received medical attention, it is time to consider your legal options. NST Law has the experience and resources needed to help you navigate the settlement process and maximize your compensation. Call 800-529-4004 or reach out online to schedule your free consultation.
Understanding Car Accident Settlements
If your car accident injury claim is successful, you will receive compensation through either a settlement or verdict. Both outcomes compensate you for the losses you suffered due to the accident, such as past and future medical expenses, lost wages, lost earning capacity, pain and suffering, and property damage.
Here’s how it works: After you file a car accident claim with the insurance company, your attorney will try to negotiate a settlement with the insurance adjuster handling your claim. A car accident settlement is an agreement between you and the insurance company to resolve your claim for a certain amount of money. However, if the insurer refuses to offer a fair settlement, you and your attorney may choose to file a lawsuit and bring the case to court, where a judge or jury will decide whether to award you compensation.
Settlements are often the preferable outcome because they allow all parties to avoid the time, expense, and stress of going to trial. Most car accident cases result in settlements, but not all settlements adequately compensate victims for their losses. Having an experienced car accident lawyer negotiate your settlement can greatly improve your odds of receiving maximum compensation that covers the full extent of your damages.
Factors Influencing Car Accident Settlement Values
No two car accidents are the same. Accordingly, no two settlements will be identical. The value of your car accident settlement will depend on various factors unique to your case, such as:
- Injury severity – The extent and nature of your injuries significantly impact your settlement value. The type of medical care you need, whether you can continue working, and how different your life is after the accident are also important. Medical records and your doctor’s prognosis are essential in establishing the severity of your injuries.
- Lost wages and earning capacity – Your injuries may prevent you from returning to work in your previous capacity. They may also have resulted in an extended leave while you recovered. Lost income and lowered earning capacity due to your injuries factor into your settlement value.
- Property damage – If your vehicle was damaged in the accident, the cost of repairing or replacing it may increase the value of your settlement.
- Shared Liability – Fault for an accident can be shared. If you contributed to the accident, your settlement may be reduced proportionally. Strong evidence is crucial to show how the other driver is at fault and reduce your liability.
- Medical bills – You may receive compensation for any documented medical expenses related to the accident. More extensive medical needs and ongoing treatment may result in a higher settlement value.
- Pain and suffering – Your car accident settlement may include compensation for the non-economic damages you have suffered, such as physical pain and emotional distress. You may have a higher settlement if the accident caused chronic pain or serious emotional trauma.
- Insurance coverage – The limits and coverage types in the underlying insurance policy will impact settlement negotiations. If the at-fault driver does not have sufficient insurance coverage to compensate for your damages, your own insurance policy may provide additional coverage.
Steps to Maximize Your Car Accident Settlement
Your actions in the hours, days, and weeks after a Tennessee car accident can greatly impact the amount of your settlement. Be sure to follow these steps to maximize your car accident settlement:
- Seek medical attention immediately – Some injuries take time to show symptoms, so it’s wise to get a medical evaluation even if you don’t believe you’re seriously injured. Delaying medical treatment can make it more difficult to establish a link between the accident and your injuries.
- Document everything – Gather evidence at the scene, such as witness statements, the other parties’ contact information, police reports, and photos of the accident scene, vehicle damage, and injuries.
- Keep detailed records – Keep all medical bills, receipts for expenses related to the accident, and records of missed time at work.
- Be cautious with social media – Avoid posting details about the accident on social media. Insurance companies may monitor your social media accounts for evidence to use against you.
- Be honest with your support team – Honesty and transparency with your lawyer and healthcare providers are essential to a strong case.
- Avoid early settlement offers – The insurance company’s first settlement offer will likely be insufficient to cover your damages. Consult with a lawyer before accepting any settlement offers.
- Work with a car accident lawyer – An experienced lawyer can negotiate with insurance companies on your behalf to increase your settlement.
- Consider alternative dispute resolution – Not all cases require you to go to court. Your lawyer can help you explore alternative options, such as mediation or arbitration.
- Prepare for negotiation – Know your rights and the insurance company’s obligations before entering into negotiations. Be prepared to negotiate assertively but reasonably for a fair settlement.
- Know when to settle or proceed to trial – Your lawyer can help you weigh the benefits of settling versus going to trial. They can also advise you on the likelihood of success in court and your potential settlement amount.
Consider Hiring a Car Accident Lawyer
Having an experienced personal injury lawyer negotiate on your behalf after a car accident can make the difference between a fair settlement and one that falls short of covering your full damages. You will be dealing with enough after an accident. Our legal team can handle all aspects of your case while you focus on healing. Whether you were hurt in a hit and run or a multi-car collision, our lawyers are ready to go to work for you.
When you turn to NST Law, our Tennessee car accident lawyers will investigate the accident, gather evidence proving the at-fault driver’s liability and your resulting damages, build a compelling case, and fight for the maximum compensation you deserve. If you or a loved one were injured in a car accident, call 800-529-4004 or contact us online to schedule a free consultation.
Our Car Accident Results
At NST Law, we are dedicated to serving our community by providing high-quality legal services to injury victims in their hour of need. Our case results speak for themselves.
$1.5 MILLION CAR ACCIDENT SETTLEMENT: COUPLE INJURED IN CATASTROPHIC CAR WRECK
Our law firm represented an elderly couple married for over sixty years. They were involved in a catastrophic car wreck. The husband suffered debilitating injuries, including brain trauma, that resulted in his death. The wife was seriously injured, undergoing multiple invasive procedures to treat her collapsed lungs, remove her spleen, and repair multiple bone fractures throughout the left side of her body.
We retained experts who were able to push back against the insurer’s claim that the husband’s deteriorating mental health was not caused by the brain trauma he suffered in the wreck, as well as prove the full extent and severity of the wife’s injuries. The case was settled for $1,500,000. We were also able to reduce their medical bills.
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