A settlement from an insurance company can enable you to move past a car accident with the compensation you need for your medical bills and property repairs. Every traffic accident case is unique, with no standard value assigned by insurance companies. It is critical to understand what can affect the value of your claim so that you know how to recover a fair amount in your Las Vegas car accident claim.
Injury Severity
The goal of a car accident claim is to make an injured victim whole again, meaning to compensate the victim for economic and non-economic damages suffered. In general, more severe injuries result in greater damages, such as higher medical costs and more money lost in missed wages from the inability to work. Because of this, serious injury cases are generally awarded greater damages than minor injuries. If a victim suffered a permanent injury or disability, for example, such as paralysis or traumatic brain damage, the settlement offered may have to address a lifetime of medical costs and other losses.
Liability for the Car Accident
Issues related to liability can alter the value of a car accident victim’s final settlement. Multiple at-fault parties, for instance, means the victim may be able to access coverage from multiple insurance policies. This equals more payment opportunities and the potential for a higher settlement. Comparative negligence can also affect the value of a car accident settlement. In Nevada, the modified comparative negligence law will reduce an accident victim’s financial recovery by an amount equivalent to his or her degree of fault. If the other driver is wholly to blame for the accident, this means a higher settlement will be available.
Lost Earnings
Lost wages are a recoverable type of damage in a Nevada car insurance claim. How much money the victim lost in income because of the car accident will determine the value of a lost wage award. A victim may receive more money for lost wages if he or she suffered a permanent disability that results in a diminished capacity to earn a living in the future.
Pain and Suffering
Nevada’s car accident laws can also grant a crash victim financial damages for pain and suffering. This can include physical pain, emotional injuries, psychological damage, loss of enjoyment of life and loss of consortium. If the victim sustained a catastrophic injury or lost a loved one in a fatal car accident, the value of pain and suffering damages may be increased, resulting in a higher overall settlement.
The Steps You Take After a Car Accident
A car insurance company will search for any excuse to diminish a claimant’s car accident payout. This includes pointing out things the victim should have done or did incorrectly in the confusing aftermath of a crash. Knowing what to do if you get hurt in a car accident can help you maximize the value of your claim. It is crucial to seek immediate medical attention. Failing to see a doctor can give a car insurance company a reason to reduce the value of your settlement or deny your claim altogether. Another common mistake is giving a recorded statement about the crash to an insurance adjuster. If you are asked to do this, politely decline. Do not talk about your car accident or injuries on social media.
Whether or Not You Hire a Lawyer
As soon as you can, contact an injury lawyer in Las Vegas to help you with the claims process. An experienced car accident attorney will do everything possible to maximize the value of the settlement you receive from a car insurance provider after a crash in Las Vegas. At Koch & Brim, LLP, we don’t charge anything for our legal services unless we win the case.