Each car accident is unique. So, car accident claims can become incredibly complicated. For Jersey City car accidents resulting in minor injuries, such as lacerations, whiplash, or concussions, the medical bills may add up to a few thousand dollars.
However, for catastrophic injuries such as Traumatic Brain Injuries (TBIs), Spinal cord damage, severe burns, amputations, or a combination of other types of injuries, medical bills can run into hundreds of thousands of dollars or even millions.
One of the significant impacts on the value of a car accident settlement is whether the accident victim has legal representation or not. An experienced Jersey City car accident lawyer understands the challenges and uncertainties you are likely to face following a car accident that wasn’t your fault.
The Factors To Consider Before Accepting a Settlement Offer
The factors that could impact how much compensation you receive for your car accident claim include:
The Extent And Severity Of Your Injuries
Severe injuries often require months of medical treatment, physical rehabilitation, therapy, and strict adherence to your physicians’ orders and medical treatment plan.
In most car accidents, injuries are apparent at the time of the accident or from a follow-up medical examination. But in some cases, it may take longer for symptoms of underlying injuries to be apparent.
Victims of life-altering auto accident injuries should wait until they have reached maximum medical improvement levels to settle their claims.
Lost Wages
An injury from a car accident can leave you unable to work. Missing work can make it difficult to pay bills and support your family. Your financial recovery should include lost wages and damages for loss of future earning capacity.
Documents that may be persuasive in supporting your claim include:
- Paychecks showing the wages/income you were regularly receiving in the months leading up to the accident
- Doctors’ notes that detail your medical treatment plan
- Correspondence from your employer verifying the number of months/days/hours you missed from work
- Opinions of experts on your future earning capacity if you have suffered a permanent, debilitating injury
The Strength of Your Evidence
In car accident claims, the injured party bears the burden of proof to establish that the at-fault party caused the accident. Proving fault requires medical evidence. Medical evidence can prove not only that you were physically injured, but also that your injury caused you pain and suffering.
Just as the presence of evidence can help your claim, the lack of it can hurt it. Damages cannot be recovered unless they are proven with evidence. Typically, your evidence should include the accident report, eyewitness statements, video and photographic evidence; medical reports, and testimonies of expert witnesses.
The more compelling evidence you can provide your insurer, the greater the likelihood of receiving fair settlement offers.
The Insurance Limits In New Jersey
New Jersey’s no-fault insurance laws require insurers in the state to pay for your initial medical bills and certain economic damages for accidents regardless of who was responsible for the accident. However, for damages such as pain and suffering, you need to file a claim against the driver who was at fault. The amount you may recover from that claim is generally limited by the amount of liability coverage in the at-fault driver’s insurance policy.
New Jersey law requires all drivers to carry a minimum amount of personal injury protection (PIP) insurance. Insurance companies will always avoid paying more than they have to. Generally speaking, the amount of a claim is capped by the insurance policy of the at-fault third party.
Understanding Settlements vs. Trials.
Only a few car accident cases go to trial, and lawsuits can be expensive. Moreover, settlements are far more common than court verdicts in injury claims.
Your insurance company may be more likely to offer a settlement before you file a lawsuit or even after your case has gone to trial.
However, insurance companies never look out for the best interests of you and your family, and want to reduce their liability.
How long it will take to settle your injury claim depends on factors such as the complexity of your case, the severity of your injuries, the availability and strength of evidence, and the willingness of the insurance company to negotiate.
The Settlement Process
Settlements offer greater control over the outcome. Parties can negotiate terms that suit their needs. In a lawsuit, the final decision rests with a judge or jury, and the outcome may not be as favorable to either party.
Your lawyer will send a precise demand letter to the insurance company comprising a summarized list of all the facts and information regarding your claim. After scrutinizing the demand for compensation in the letter, the insurance company may accept the demand and agree to the compensation claimed in the demand letter, deny the claim and refuse to pay, or offer you an amount less than what you had claimed in the demand letter. You may decide to accept such an offer, continue negotiations, or file a lawsuit after consulting your lawyer.
Once you agree to settle, you must relinquish all potential claims against the defendant arising out of the underlying accident by signing a full liability release.
Once you have signed the release, you will not be able to demand additional money or pursue a claim even if you discover new injuries or damages. Your attorney will help you understand exactly what rights you are giving up.
Accepting an insurance Offer After a Car crash? Contact A Lawyer
If you or a loved one has suffered injuries in a car accident in Jersey City due to the negligent actions of someone else, don’t try to take on the car insurance companies on your own.
Omni Injury and Accident Law has the experience to know when an offer is too low and can help you evaluate the fairness of an offer and negotiate on your behalf. Contact our lawyer to schedule a free and confidential case consultation, or call us now at +1 646-736-4184.