Each year, approximately 1.3 million people die in vehicle accidents, and 20 – 50 million are injured or disabled in those crashes. After a car wreck, you may feel confused, overwhelmed, and unsure if you’ve been injured or are simply shaken up. What is likely to be obvious is the damage to your vehicle, and you may worry about the cost of car repairs, time off work to get your car fixed, rental car costs, and deductibles. Additionally, you may be faced with expensive medical bills. Most people expect their insurance company to pay for these things; however, most people aren’t clear about how much their claim is worth.
How Do Insurance Companies Decide What to Pay?
Insurance companies don’t use an exact formula to determine what they pay on insurance claims, which makes calculating the worth of a claim difficult. However, they consider many factors about the crash, including:
- Damages to the car. If your car was damaged in the crash, your insurance will often cover the costs of repair. If your car was totaled, your insurance might assist in replacing your vehicle and covering the costs of a rental car. Check your policy for the maximum payout on vehicle damage, gap insurance, and replacement coverages.
- Injuries. If you were hurt in the accident, it’s important to get the medical attention you need first and worry about costs later. The at-fault driver and his insurance company will be responsible for paying your medical bills and lost wages from any time you have to take off work because of your injury. If your injuries are severe, you may be able to argue for pain and suffering compensation, also.
- Pain and suffering. Making a claim for pain and suffering may include your emotional distress and inability to enjoy a normal life routine or engage in everyday activities. Because there is no specific monetary value associated with pain and suffering, calculating damages for this isn’t always clear. Keep in mind that once you take a pain and suffering settlement, you cannot claim additional costs in the future. Your lawyer will be able to advise you of the smartest course of action, as pain and suffering claims can become extremely complicated.
We Can Help
If you’ve been in a car accident and the other driver was at fault, you may have questions about your accident, claims, and insurance policy. The attorneys at Tavss Fletcher can help. Contact us at 877.960.3441 to schedule a consultation.