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Motor Vehicle Settlement A motor vehicle settlement can cover property damage current and future medical bills as well as lost wages and the suffering of others A personal injury lawyer can assist you gather the evidence needed to get a fair settlement Economic losses can include medical bills and up to 80 percent of the lost income Other damages such as pain and discomfort are determined by adding measurable costs to your injuries Calculate motor vehicle accident law firm riverside of your claim Many car accident victims are interested in knowing how much their settlement claim is worth There isnt a set amount a jury may make a decision to award a victim losses based on the circumstances and the severity of the injuries Insurance adjusters will use an equation that is to calculate the cost of an expense including medical bills and lost wages The more severe the injury is then the greater the award The first step in determining the value of a motor vehicle settlement is to determine the property damage This includes the cost of fixing or replacing a damaged car as well as personal items like cameras and phones that were lost in a crash Future medical bills can also be included in the settlement For noneconomic damages the adjuster for insurance will often start with the number of weeks that the victim was off work because of injuries This figure is then multiplied by the severity of the injury An attorney can make a significant impact on the amount of your settlement A lawyer with experience negotiating settlements with insurance companies can ensure you get a better amount than you would on your own An attorney can also help you in collecting the proper evidence for your claim including medical records receipts and personal declarations from witnesses who affirm your account of the events Having hard copies of these documents especially when you mail a demand letter to the insurance company can be a great help in proving your claim Request a letter After you have collected all the evidence that can be used to support your claim including medical records lost wages information and bills and receipts that relate to property damage it is the right time to write an order letter This type of letter is sent to the insurance company by your personal injury attorney It includes the details of your incident and the damages you are seeking to pay the loss It also contains the right to claim compensation for noneconomic losses such as pain and discomfort It is important that you compose the demand letter in a manner that suggests the insurance company did not have any prior knowledge of the accident or your injuries Your personal injury lawyer should use a calm and objective style The insurance company could try to trigger a strong emotional response to convince you to accept an inadequate settlement offer It is also essential to list all of your losses in the demand letter including breakdown of the specific expenses as well as a calculation of any damages not economically based All relevant documents should be included in the demand letter It is important to include the most complete information you can However it is recommended to begin high when you determine your initial dollar amount for damages This will let you negotiate and settle for a fair settlement without needing to go through trial Make an offer counter to Once the insurance adjuster has examined your demand letter and provided an opening offer it is time to offer a counteroffer It is important to consider the general damages that you have calculated and any damages that are specific to your particular accident when deciding what to ask for in the counteroffer Also if you have any emotional points that could help your case such as the pain and suffering of not attending family events or the difficulties of taking on the responsibilities such as caring for children because of your injuries its important to incorporate these factors into your counteroffer It is essential to notify the adjuster of your decision as soon as you decide how much to raise your counteroffer Your lawyer can help draft a letter in which you clearly state your intent to reject an insurers lower settlement amount and explain the reason why you should be paid more If the insurance adjuster does not want to offer a satisfactory price you may need to look at other options including filing an action for personal injury However it is important to remember that a lawsuit may take months or even years to finish A lawsuit can also require both parties to invest additional money in order to prepare for the trial It is therefore preferable to settle outofcourt if at all possible Keep track of your claim In the event of a car accident keeping track of your damages and losses is critical to ensuring that you receive an equitable settlement for your car accident Your lawyer should be able to help you calculate your total losses and determine the amount you should request from the insurance company in demand letters This is a crucial step since it shows the other party that you are determined to settle the claim Insurance companies usually employ a formula to determine how they will offer in a car accident settlement The formula typically includes a multiplier based on your medical expenses and other quantifiable costs like lost income The multiplier can range from 15 to 5 depending on the severity of your injuries affecting the number used The problem with this approach is that it fails to account for the noneconomic losses like suffering and pain These damages are difficult to measure and a doctor might not be able to anticipate the future issues that could arise in the weeks or even months following the accident Keep copies of all receipts and photographs financial records and personal statements as well as other relevant documents in the event that your car accident case needs to be transferred to a court This documentation can help to speed up negotiations and prevent misunderstandings with the insurance company
