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Cochran Firm Blog, Philadelphia

Auto Accidents: How Much Should I Settle For?

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Determining Settlement Amounts For Auto Accidents

When you are involved in an auto accident, there are many factors taken into account when determining a settlement offer, with the three most prominent being:

Repair/damage costs: The first factor taken into account after an auto accident is the cost to repair the vehicle. Generally, a car is considered totaled when the cost to fix the car exceeds the value of the car. However, some states have laws that define a totaled car by specific thresholds such as when the damage is greater than 75% of its value. It is the responsibility of the insurance company to evaluate the damages.

Medical bills: Depending on the severity of your accident, immediate medical costs can be expensive and even more so if you do not have health insurance. It is highly advised that you go see a medical professional after an auto accident no matter the severity, but any tests or screenings needed are accounted for when calculating a settlement offer. It’s also very important to know that if you don’t get the right kind of medical care after your accident, you might have a reason to make a medical malpractice claim.

Future care: If your auto accident was severe, chances are you will need continued care after the accident. Costs for things such as physical therapy or rehab are factored into the settlement calculation.

There are some great tools online that can help you calculate your settlement value as well. But these tools are often times incorrect as they can’t factor in all the appropriate information like a lawyer for auto accidents could. It’s crucial to understand how a personal injury claim can affect your insurance, as insurance companies are not going to offer more than they have to. Keep in mind that insurance companies are not going to offer more than they have to. Settlement negotiations can turn into a long, drawn-out process.

Call Our Automobile Accident Lawyers Today

To ensure you recover the full amount you deserve, we highly advise you to contact one of our personal injury lawyers today at (800) 969-4400.