ClickCease What Is a Fair Settlement For a Car Accident?

What Is a Fair Settlement For a Car Accident?

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Attaching a dollar value to your pain and suffering after a car accident is hard. You may not know the full extent of your injuries and the long-term impacts the accident will have on your life.

Unfortunately, many insurance companies will work to pay as little compensation as possible, even making settlement offers that don’t fully cover your injuries and damages. Hiring a Washington, DC car accident attorney is crucial to ensuring you receive a fair settlement for your car accident.

Compassion and Commitment to Victims of Car Accidents

At Regan Zambri Long PLLC, our legal team knows that you have more on your mind than just the car accident settlement. We’ll handle your case with compassion and commitment, fighting on your behalf until we’ve won you a fair settlement or verdict.

Although it’s natural to want some kind of guarantee or expectation of how much you will receive from your car accident settlement, the individual facts of each case mean it’s impossible to calculate an average car accident settlement. An experienced attorney from Regan Zambri Long will help you calculate the compensation you should pursue. Call today for your free case review.

Valuing a Car Accident Settlement

According to the National Safety Council, the average economic cost of a car accident varies can be anywhere from $4700 for property damage only to $1,750,000 in the event of a death. Determining the value of a car accident settlement begins with an inventory of your economic losses and non-economic damages. Once you’ve taken inventory, you will have a general idea of the financial impact of the car accident case and how much compensation you should claim.

Economic Losses

Economic losses are the easier part of your settlement calculations, in theory. Economic loss refers to any specific financial expense or loss, such as medical expenses, property damage, and lost wages.

After adding up your current economic losses, you’ll need to critically consider what future losses and expenses will be. Continued medical care will mean future medical bills which should be compensated

Non-Economic Damages

Non-economic damages are harder to calculate because they are not tangible bills and expenses. These damages are for things such as pain and suffering. For example, if you were in a car accident and are now facing severe anxiety that keeps you from driving, that suffering would be non-economic damage (and bills from a therapist to work through the anxiety would be an economic loss).

Calculating Typical Car Accident Settlement

A car accident lawyer in Washington, DC goes over a contract with clientsTypically, an insurance adjuster will take the value of the economic losses and multiply the total by a number between 1.5 and 5, depending on facts including how severe the injuries are, how much medical treatment is expected, the likelihood of a full recovery, and long-term and permanent effects.

The number used for calculating these damages will be a main point of contention in your car accident settlement, so it is important to have an experienced attorney on your side.

You shouldn’t choose a multiplying number at random, nor should you choose the highest number simply because it’s the highest. Your best chance at successful negotiation will come from being honest about the extent of your injuries and losses and choosing a fitting number.

The car accident attorneys at Regan Zambri Long will help you review your losses and damages and determine the most appropriate multiplier for your case. The more severe or permanent your injuries, the longer the recovery time, the more intensive the medical treatment, and/or the more painful your injuries are, the higher the multiplier should be.

You would use a lower number if you only suffered a whiplash car accident injury, but you might use a middling number if you suffered broken bones or a concussion. A permanent disability or lost limb would require a high multiplier.

These calculations will give you a starting place for negotiations with the insurance company. Remember, even if you didn’t pay costs out of pocket or you had PTO benefits to cover lost income, you are still entitled to financial compensation for those costs and losses.

Making these calculations can be overwhelming, but the car accident attorneys at Regan Zambri Long are here to help. During your free case evaluation, your attorney will work with you to begin calculating how much compensation you are owed. Call us today at 202-960-4596 to schedule your consultation and take the first step in your settlement claim.

What is the average value of a car accident settlement?

Although you can find Google results that give you average numbers for car accident settlements, it’s important to know that every case is different.

An average value will not be able to account for the specific facts of your case. While this means you must do the calculations yourself to determine the value, it also means that insurance adjusters must do the same. You will be able to argue for a higher value, where appropriate, because of the facts of your accident.

How Do I Know if a Settlement Offer Is Fair?

Washington, DC car accident lawyer speaking with a client about their caseIt would be nice to be able to trust that a settlement offer is fair and reasonable. But the unfortunate reality is that, sometimes, insurance companies will offer the least amount they think they can get away with, offering a settlement that is unfair to you. You should not accept a settlement offer without consulting your attorney. Often, the first offer is not fair and is a starting place for negotiations.

A fair settlement offer will, first and foremost, cover all existing expenses and losses. All your medical bills, your lost income, and your property damage costs should be included in a fair settlement. Once you are sure those things are included, you should consider how much is being offered to cover future expenses (continued treatment, compensation for permanent disability or treatment) and how much compensation is offered for the mental and emotional suffering the accident caused.

The best way to know if a car accident settlement is fair is to consult with a qualified car accident attorney. At Regan Zambri Long, our personal injury lawyers have decades of cumulative experience with car accident cases. If you have already started the process and received a settlement offer, a car accident lawyer at Regan Zambri Long will review the car accident settlement offer with you and help you determine if it is a fair offer or if you are entitled to more. Schedule a free case evaluation with an experienced lawyer to discuss the facts and value of your case.

How Do I Negotiate an Insurance Settlement?

For the most success in negotiating a settlement claim with a car insurance company, you’ll want to hire a qualified personal injury lawyer with a track record of satisfied clients.

The personal injury attorneys at Regan Zambri Long have been handling car accident claims for decades and can bring their cumulative experience to bear on your car accident injury settlement negotiations. Our team will help you write your claim letter, detailing the compensation you deserve from the accident and assigning a dollar value to your damages. We will patiently and persistently pursue your claim through counteroffers until we receive an offer that meets your approval and financial needs.

Let Regan Zambri Long Settle for You

The car accident attorneys at Regan Zambri Long are ready to take on your case. We’ve made multi-million dollar recoveries for car accident victims throughout DC. We are committed to pursuing the maximum amount possible for you so that you can afford to fully recover from your accident.

Call us today at 202-960-4596 to schedule a free case evaluation. We don’t take any fees until we’ve made a recovery in your favor, so you can schedule your consultation with confidence.

Schedule a Free Consultation

Have you or your loved one sustained injuries in Washington DC, Maryland or Virginia? Regan Zambri Long PLLC has the best lawyers in the country to analyze your case and answer the questions you may have.

Call 202-960-4596

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