What is My Car Accident Claim Worth?
Some of the most common questions our Las Vegas car accident attorneys hear from injured victims and families looking to file personal injury claims after an auto accident involve the value of their claims. How much is my case worth? What compensation will I be able to recover? The answer, unfortunately, is not always easy to provide. This is because each case and client is unique, and because the trajectory of a case may also affect its value. It is near impossible to determine the total value of a claim upon first look and without extensive review from insurance adjusters. Even insurance adjusters can get it wrong!
At Shook & Stone, our legal team strives to recover maximum compensation for our clients. We also do our best to help them understand their rights and what damages they may be eligible to recover. While we may not be able to give an exact dollar amount for the value of a car accident claim, we can work with clients to help them understand what type of damages they may be eligible to receive.
Although each car accident case will vary, injured victims may be able to recover financial compensation for the following:
- Economic Damages – Economic damages are any type of financial losses victims and families suffer as the result of their car accident. This can include the cost of medical treatment, projected future medical care, lost work wages and future earnings, funeral expenses, and others.
- Non-Economic Damages – Non-economic damages are a little more difficult to estimate or equate into dollars. These damages refer to the emotional injuries victims and families can experience after an accident, such as their loss in quality or enjoyment of life, loss of emotional support, pain and suffering, and mental anguish, among others.
- Punitive Damages – Punitive damages are awarded in certain cases where victims are injured by wrongdoers who commit acts of oppression, fraud, or malice. Generally, this means egregious or intentional misconduct. For example, punitive damages may be awarded to victims injured in drunk driving accidents, as driving under the influence is clearly a negligent, illegal, and dangerous act. Punitive damages are not awarded in every case.
How is Compensation Determined?
Because insurance companies operate like most businesses, they want to lose as little money as possible. This can result in a much lower settlement amount than you deserve. This is where having a car accident lawyer is helpful. Having an outside professional who is on your side can result in additional areas of compensation which you were not being offered previously.
The Las Vegas car accident attorneys at Shook & Stone determine compensation on the following major factors:
- Vehicle Estimate: The value of your vehicle pre-accident should be taken into account in addition to the total cost of repairs.
- Split or Shared Liability: Percentage of liability plays a large factor when calculating the total cost of damages. For example, if you were partially at-fault, this could reduce your recovery.
- Bodily Injuries: Any injuries that you or your passengers sustained in the accident should be accounted for. We can conduct a review of medical records to calculate the total cost of medical expenses.
- Noneconomic Damages: Many car accident victims are also entitled to noneconomic damages such as emotional injuries or pain and suffering.
There may also be additional factors that contributed to your car accident that went unnoticed before, such as road defects and vehicle defects. Our law firm can investigate every detail that could possibly have led to your accident. We will pursue maximum financial compensation on your behalf.
Settlement time for car accident?
The timeframe for settling a car accident claim will vary depending on the complexity of the case and whether there is an agreement between all parties involved. Generally, if both parties are in agreement and liability is clear, it could take one to two months to settle a claim.
However, if fault or liability is in dispute or more evidence is needed to support your claim, it can take several months or even a year or more for average settlement.
Seeking Representation in Las Vegas? Call Shook & Stone Today.
If you have questions about the potential value of your car accident claim, our Las Vegas personal injury lawyers can review your case and explain the compensation you may be entitled to recover. Should you choose to work with our experienced legal team, you can be confident that you will have proven advocates on your side fighting for the full compensation you deserve.