What Factors Can Affect The Value Of My Car Accident Claim?

Florida is one of a few states that use a no-fault insurance system. This means that if you are involved in a car accident, you would first turn to your insurance coverage for compensation for your medical bills and other losses or damages. However, you can file a claim against the at-fault driver if your injuries meet specific criteria.

If you are involved in a car accident, contacting a car accident attorney is in your best interest to help you with your case. Kogan & DiSalvo Personal Injury Lawyers have the knowledge and expertise to help you get the most out of your car accident claim. We will also help you understand how the following factors can affect the value of your car accident claim.

Severity of Injuries

The severity of your injuries in a car accident is a significant factor that affects settlement amounts. A Martindale-Nolo survey was conducted in 2020, and results showed that injured car accident victims were awarded an average of $29,700 instead of the typical compensation average of $8,200.

Medical Expenses

Medical expenses are one of the most significant factors that affect the value of your car accident claim. The type of injury and how bad the injury was directly impacts the settlement amount for your car accident. 

You must understand that insurance companies are only responsible for paying for reasonable and necessary medical expenses. The insurance company can legally deny compensation if your medical bills are extreme or far over what is typical for your injuries. 

Property Damage and Lost Wages

Financial loss, such as lost wages and property damage, also determines car accident settlement amounts. The settlement for a car accident is there to make the victim whole after the losses sustained. The settlement amount should account for lost wages due to missed work, property damage, and medical bills. 

Pain and Suffering

There are two types of pain and suffering that you can be compensated for in a car accident claim: physical pain and suffering due to injury and mental anguish from the physical injury.

However, it is difficult to calculate an individual’s pain and suffering because everyone has different pain thresholds. So, to say that everyone’s pain and suffering should be calculated equally is a false claim.

Also, considering Florida is a no-fault state, if your injuries do not meet the state’s threshold for filing a liability claim against the at-fault driver, “pain and suffering” will not be calculated into the insurance company settlement amount. Sustaining a permanent injury or a permanent aggravation to a pre-existing condition is necessary to recover pain and suffering damages.

Liability

Florida is a contributory negligence state. That means if you, the injured victim, are more than 50% liable (responsible) for causing the accident,  you will recover nothing from the defendant or their insurance company. If you are less than 50% at fault, you are able to recover your damages (reduced by any percentage of liability (responsibility) attributed to you.

Insurance Policy Limits

Most states require people to carry liability insurance in case of car accidents. If the policyholder is at fault in an accident, their insurance company will compensate injured parties up to the policy limit. 

If the total cost of damages exceeds the policy limit, the insurance company will not pay the excess amount. You can file a claim against the at-fault driver, but you will most likely only be compensated if they have the extra funds available.

Evidence and Documentation

Proper evidence to support your claims in a car accident lawsuit is vital to winning your claim. You are a key witness involved in the accident, but if you do not have the evidence to back up what you are saying, no one is likely to believe you. 

Some of the types of evidence you should include in your claim include:

• Police reports
• Photographs
• Witness statements and testimony
• Medical records and bills

With these forms of evidence by your side, your claim will be stronger, and you will be more likely to win. 

You should do these things directly following your car accident to ensure you have everything you need for your claim. You will want to talk to witnesses and collect their names and contact information for future contact if needed. Ensure you call the cops and get a police report. 

You will also want to get pictures of the accident scene, including damage to the vehicles involved, vehicle license plates and debris, skid marks, traffic signs and signals, road conditions, the exact location of the accident, and your injuries. Get the dashcam footage from both vehicles. 

Legal Representation

Having legal representation can also be a factor that affects the value of your car accident claim. The car accident lawyer you hire should have the knowledge and expertise to represent you to the best of their ability. They will help you gather evidence and all the necessary information to win your claim.

They can also help by calculating all of the damages for your claim and help you negotiate a fair settlement with the insurance company. If negotiations do not go as planned, they can represent you in court to get you total compensation for damages. 

Kogan & DiSalvo Can Help You with Your Car Accident Claim

Car accident claims can be challenging to navigate. That’s where Kogan & DiSalvo Personal Injury Lawyers come in. We have the knowledge and expertise to help you navigate your car accident claim and get the best possible outcome. If you have questions or were involved in a car accident in Florida, contact us to schedule a free consultation to discuss and review your case today.