What Is My Car Accident Claim Worth?

In theory, car accident victims are owed enough compensation to make them “whole” again. However, the value of a car accident claim is a complex interplay of many factors. Let’s look at some reasons your auto accident settlement amount might go up (or down).

The car accident lawyers at Tuley Law Office in Evansville will fight to get you the full value of your claim when you have been injured in an Indiana car crash.

Estimating the Value of a Car Accident Claim

Each case is unique, and it takes careful consideration of the specifics of your situation to determine the value of your claim. To get a precise claim worth calculation, it’s best to consult with a personal injury lawyer who can provide an assessment based on the details of your case.

Our attorneys can help you understand the possible compensation you are owed, and also guide you through the legal process to help you receive fair compensation.

A few factors that commonly affect a car accident settlement amount include:

Extent of Injuries

The first factor that can affect the amount of a claim’s value is the severity and type of injuries you have sustained. Generally, the longer an injury takes to heal, the more it can disrupt your life and keep you from earning a living. Your claim value may be higher if it involves:

Broken bones that need surgery or rehabilitation to heal fully
Soft tissue injuries that cause chronic pain or limited mobility
Head injuries such as severe traumatic brain injuries (TBI) that cause significant long-term effects
Back injuries that involve spinal trauma, chronic pain, or disability
Psychological effects like post-traumatic stress disorder (PTSD)
Wrongful death of a family member

Medical Expenses

The amount and cost of your accident-related medical treatment directly influence your claim. This includes:

Emergency care for your initial treatment at the scene or in the hospital
Hospital stays to recover from your injuries
Ongoing treatment, such as follow-up visits, physical therapy, medications, or surgery
Future medical costs for any anticipated future treatment for ongoing or permanent injuries

Property Damage

The cost of repairing or replacing your vehicle is a significant factor in your personal injury compensation. More often than not, this is handled separately from your bodily injury claim. Your property damage claim includes:

Repair costs. You will need an estimate from a repair shop stating the cost of repairing the damage.
Total loss. If your car is deemed a total loss, you can sue for the car’s value before the accident.
Other property damage. If other personal property, such as electronics or personal items in the vehicle, was damaged or lost in the accident, these costs should also be included in your claim.

Insurance Coverage Limits

In Indiana, an at-fault driver is responsible for paying injury and property damage costs related to a crash. State law requires all drivers to carry liability insurance to cover damages and injuries to others. However, the amount of the at-fault driver’s insurance coverage can affect your auto accident damages.

The negligent driver’s insurance is often the primary source of compensation, but what if your total costs exceed the driver’s policy limit? In these cases, you may turn to your own insurance policy to cover some costs, such as:

Collision coverage for your vehicle damage costs, regardless of fault
Uninsured/Underinsured Motorist coverage to make up the difference after the at-fault driver’s insurance runs out
Medical Payments (MedPay) coverage for medical expenses incurred regardless of fault

Lost Wages

If your injuries have prevented you from doing your job, you can claim compensation for lost income. This includes:

Current lost wages or the income lost during the period you cannot work
Future lost earnings if you are unable to return to work or need to change jobs due to your injuries
Out-of-pocket expenses related to the accident, such as transportation to medical appointments

Non-Economic Damages

Non-economic damages, also called pain and suffering compensation, do not have an exact calculation. Your lawyer will assign value to these damages based on how you were affected by:

Physical and emotional suffering. You may be owed additional damages for the pain and emotional distress the accident and your injuries have caused.
Loss of enjoyment of life. If your injuries affect your ability to engage in hobbies or activities you used to enjoy, this can be factored into your claim.
Loss of consortium. The law allows additional compensation for the accident’s impact on your relationship with a spouse.

Legal Representation

Handling the claim on your own can be challenging, especially if the insurance company disputes your claim or if liability is contested. A skilled legal representative can accurately assess and calculate the value of your claim, increasing your chances of fair compensation.

Your lawyer can help with the value of your claim in the following ways:

Experience and expertise. A lawyer with experience in personal injury cases has a better understanding of the factors involved and the compensation you may be entitled to.
Negotiation skills. Lawyers regularly negotiate with insurance companies to ensure clients receive a fair settlement.
Degree of negligence. If you were partially at fault for the collision, your compensation is reduced based on the degree of your responsibility. In Indiana, if you were blameless in causing the crash, you get to keep the full value of the settlement. However, if you are more than 50 percent at fault, you cannot receive any damages related to the crash.
Settling vs trial. Most claims are settled out of court because settlements provide quicker compensation. Trials can be time-consuming and costly but might result in more compensation if you win. Your attorney will only take the case to trial if it is in your best interest..

Contact Us for a Personalized Case Assessment

The personal injury lawyers at Tuley Law Office handle the legal details so you can recover—and you won’t owe us any fees unless we secure compensation for you. Contact our team today for a free consultation.

Have questions about your case?