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How Are Auto Accident Settlements Calculated?

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How much should I settle for after a car accident?

Settlements for car accident victims can seem like a mystery. How are they calculated? What factors go into the decision? This post will help to answer some of those questions and give you an idea of what to expect in your own settlement.

Keep in mind that every case is unique and these numbers should not be considered set in stone, but rather as a general guideline. So, let’s get started!

One of the most important factors in any car accident settlement is a liability. The person or party at fault for the accident will be responsible for paying damages.

Determining liability can be tricky, especially if the accident was caused by multiple parties or if there are conflicting accounts on what happened or what caused the car accident. A good tip is to always consult with a car accident lawyer to help you with your case.

What factors are considered when calculating an auto accident settlement amount?

There is no one formula for calculating the car accident settlements. Each car accident case is unique. Insurance companies check different factors to compute a settlement offer. Some of those factors are:

  • Medical bills
  • Property damages
  • Emotional distress or Pain and Suffering damages
  • Missed or Lost Wages
  • Shared Fault

The last factor points to the liability of the drivers in the accident. In the state of Texas, when there are more than one party at fault for the accident, the liability will be divided among those at fault.

An investigation will be launched to determine who is at fault for the accident. This is why, at Roxell Richards Personal Injury Law Firm, we encourage clients to gather as much information about the accident. The more information you have and secured, the better you can help your case in terms of the investigation.

To know more about what to do when you’re in a car accident, read the What to do after a Car Accident?

How do insurance companies come up with their settlement offers?

Insurance companies prefer to settle out of court to lessen their expenses. Usually, an insurance company will use the multiplier method. They will assign values to your personal damages. They also consider how the car accident impacted you and your life. If the impact of the car crash to your life is huge, the multiplier will be higher.

What most insurance companies do is give you a lowball settlement offer. Sometimes, this amount will not even cover the damages to your car or your medical bills.

At Roxell Richards Law Firm, we remind our clients (and you!) to NOT sign any documents immediately. Your best bet to getting the right and fair calculation of your settlement is through the help of a car accident lawyer.

Our Roxell Richards lawyers help you in getting the right amount for your settlement. You will have someone who negotiates on your behalf so you don’t get tricked into getting an unfair amount.

Want to hear how Roxell Richards Personal Injury Law Firm help get a client a good settlement? Click here.

Get help from a trusted car accident lawyer

If you’ve been injured in a car accident, it’s important to know how settlements are calculated. You may be tempted to try and handle the claim yourself, but unless you have experience with personal injury law, you could be shortchanged.

That’s where we come in. Our Personal Injury lawyers have decades of experience negotiating fair settlements for our clients. We offer free case reviews so that you can get an idea of what your settlement might be worth. Contact us today by calling the local number (713) 974-0388 or toll-free 1-855-GOT-INJURED.

Learn more about how we can help you get the money you deserve after being injured in a car accident. Start your free case review now at roxellrichards.com or getinjuryhelp.net

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