When you get hurt in a car crash, the insurance company will offer you a settlement. They are not just pulling numbers out of thin air. They have their ways of calculating car accident settlements, but they still might not offer you enough money to make up for the injuries you suffered or the pain you have experienced. That’s when you’ll want some help from a Corpus Christi, Texas car accident lawyer.
How Do Insurers Come Up With Car Accident Settlements?
When one of their insured drivers gets into an accident, the insurance company begins its calculations. It will often use what’s called a “multiplier” method in order to determine what car accident settlements should be. An adjuster first takes the medical expenses of the accident victim, you, and then they evaluate how much pain and suffering you have experienced due to the accident. This can be done by looking at things like the severity of your injuries, how much recovery time lies ahead for you, and evidence offered by a medical professional.
Then they take your medical expenses and multiply it by a number between one and five, depending on how much pain and suffering they think that you have experienced. Finally, if you lost any income that gets added to the calculation. So, let’s say you have $10,000 in medical bills and $5,000 in lost income. Your injuries are quite severe, so the adjuster uses a multiple of three. This gives us $45,000 for the settlement.
Should I Take the First Offer the Insurance Company Makes?
Unfortunately, that is not what the insurance company is likely to offer you. Then why do all of these calculations? This is what an insurer thinks a jury might offer you if you sue and end up in court. Their first offer to you is likely to be far lower than the number they calculated.
Can Lawyers Help Victims Secure Larger Car Accident Settlements?
We cannot make any promises, but our attorneys do everything that they can to help our clients secure bigger car accident settlements that make up for their medical expenses, lost income, and psychological trauma. We will help you build an effective case and show how this accident has affected you and upended your life.
How Long Do I Have to Sue for a Bigger Settlement?
You do not have unlimited time to pursue compensation in a case like this. Texas gives you two years after the date of the injury to sue for damages. So act quickly and contact our lawyers if you think you have a case.
Schedule Your Free Consultation
If you were hurt in an accident and the other driver’s insurance company won’t offer you an adequate settlement, we may be able to help. Contact Sahadi Legal Group and schedule a free consultation with our team today.