If you’ve been injured in a car accident, one of the questions you may be asking is “How much is my case worth?”
The honest answer is it depends. There are multiple factors that influence the value of a car accident claim, but there are some clear factors that most impact the value of a case, and understanding them can help make sure you don’t have to settle for less than what you deserve. Learn more from an experienced Colorado Springs Car Accident Attorney.
4 Biggest Factors that Determine Case Value
- Your Medical Bills
The value of most personal injury cases is mainly about your injuries, and the main factor that insurance companies and juries look to in determining these injuries is your medical treatment.
This includes:
- Emergency room visits
- Follow-up care
- Physical/Occupational therapy
- Future medical treatment
The more serious the injuries, the more extensive the medical treatment you receive, the more valuable your case is, in general.
Even if you do not believe your injuries are “serious enough” to warrant a case, you should know that even relatively minor injuries still can be valuable if medical treatment is properly documented and managed.
2. Lost Wages and Future Income
If you had to miss any work, or if your injuries will affect your ability to earn wages or make a living in the future, these lost wages can be included in your claim.
This includes:
- Time missed from work
- Reduced earning capacity
- Canceled contracts or missed business opportunities
3. Pain and Suffering
Pain and suffering can often be the largest and most misunderstood aspect of your case’s value.
Pain and suffering is just what it sounds like – when you have an injury, whether it is major or minor, that injury is painful and brings some level of suffering. You are entitled to be compensated for that pain and suffering that you only experienced due to someone else’s negligence.
Pain and suffering covers:
- Physical pain
- Emotional or mental distress
- Loss of enjoyment of life
A good attorney will know how frame this aspect of your claim to maximize your case’s value.
4. Liability
Even a case with a major injury can lose value if there are facts that put fault in dispute.
Colorado, like many states, uses a comparative negligence framework in personal injury claims, reduces your case’s value if you are partially at fault. If you are found to be 50% or more at fault, you may be prevented from recovering anything for your case.
Be careful, however. Just because you may feel that you share some fault, that doesn’t necessarily mean that is enough to reduce the value of your case. Insurance companies will often tell claimants that they were wholly or partially at fault for the crash, but this is simply a tactic to try and avoid having to pay out on a claim.
Consult with an experienced, trusted attorney before making any decisions.
Why Insurance Companies Undervalue Claims
Insurance adjusters are trained to minimize payouts. Early offers are often:
- Made before you know the full extent of your injuries
- Based on incomplete medical records
- Designed to close your case quickly
That’s why it’s important to understand the true value of your claim before accepting any settlement.
How to Maximize the Value of Your Car Accident Case
To maximize the value of your claim:
- Get medical treatment right away
- Follow your doctor’s recommendations
- Avoid speaking to insurance adjusters without guidance
- Document everything
Get The Compensation You Deserve
You can also learn more about your rights by calling 719-694-0578 and consulting with the attorneys at Black, Blink, & Associates LLC to learn more about your case and the personal injury claims process.