Is There a Formula for Auto Accident Settlements?

When it comes to an auto accident, there’s only one thing they have in common. No one likes to be involved in one. Whether you are at fault or the victim, an auto accident can be very stressful and time consuming to deal with.

If you have been injured in an accident, you want to have the accident resolved as soon as possible. Many times this involves using an auto accident lawyer. And if you’ve already hired an attorney, what’s the next step? You might wonder what happens next and that’s normal.

There’s no massive chart that says in a car accident in Houma, Louisiana where the vehicle is five years old, the driver is a 38 year old male who broke one leg and totaled his car when a DUI ran a stop sign is entitled to X amount in a settlement. It just doesn’t work that way. There are so many variables to consider, but there is a pattern that can give you an idea of what to expect.

Sometimes your claim is subject to special damages. These are items like the money you lost or will lose from being out of work, your medical expenses, your missed work, etc. They use these number to determine what your claim may be worth. This includes items like pain and suffering whether it is physical or mental or both. These special damages are sometimes used as a multiplier based on your claim. This is a way to roughly guess the amount of the claim. Keep in mind that this is not a perfect equation. Let’s say that your medical expenses were $1000. The insurance company will assume based on this number that a trip to the doctor or ER for this “low” number fixed all your problems. Based on this, you might be subject to a smaller multiplier. If your hospital expenses were high, say $35,000, they will assume that this was the result of a long hospital stay. To make it easier, they may assign a multiplier of four or five to determine your damages.

Sound confusing? It really can be. Get someone on your side that knows the system and will be working for you and your best interests.

When it comes to an auto accident, there’s only one thing they have in common. No one likes to be involved in one. Whether you are at fault or the victim, an auto accident can be very stressful and time consuming to deal with.

If you have been injured in an accident, you want to have the accident resolved as soon as possible. Many times this involves using an auto accident lawyer. And if you’ve already hired an attorney, what’s the next step? You might wonder what happens next and that’s normal.

There’s no massive chart that says in a car accident in Houma, Louisiana where the vehicle is five years old, the driver is a 38 year old male who broke one leg and totaled his car when a DUI ran a stop sign is entitled to X amount in a settlement. It just doesn’t work that way. There are so many variables to consider, but there is a pattern that can give you an idea of what to expect.

Sometimes your claim is subject to special damages. These are items like the money you lost or will lose from being out of work, your medical expenses, your missed work, etc. They use these number to determine what your claim may be worth. This includes items like pain and suffering whether it is physical or mental or both. These special damages are sometimes used as a multiplier based on your claim. This is a way to roughly guess the amount of the claim. Keep in mind that this is not a perfect equation. Let’s say that your medical expenses were $1000. The insurance company will assume based on this number that a trip to the doctor or ER for this “low” number fixed all your problems. Based on this, you might be subject to a smaller multiplier. If your hospital expenses were high, say $35,000, they will assume that this was the result of a long hospital stay. To make it easier, they may assign a multiplier of four or five to determine your damages.

Sound confusing? It really can be. Get someone on your side that knows the system and will be working for you and your best interests.

Auto Accident Lawyer in Houma, LA

If you’re in the Houma, LA area, Waitz & Downer is ready to help ensure you’re protected and supported in the wake of a car accident. Contact us at 985-876-0870, and we’ll provide you with the help you need.