Having a clear picture of the damages sustained in a personal injury case is a crucial component to obtaining the maximum compensation the accident victims deserve. Your personal injury lawyer will play a critical role in valuing your case to ensure that all of the damages you have suffered are accounted for. An accident at the hands of another is often worth far more than your injuries and the property damage you may have experienced. Many victims may not have even considered the vast ways that an accident may have impacted them. This is a primary reason to work with a personal injury lawyer; they will make sure that nothing is left out of the demand letter to the insurance company.
Types of Damages
To collect compensation following an accident you must have damages. Damages are the losses that you have experienced and can come in the form of economic and non-economic damages.
Economic Damages
Economic damages are those that you can easily assign value to. These are the tangible losses that you may experience, such as:
Medical Expenses (both past, present, and future)
Lost Wages
Property Damages
Lost Earning Capacity
Miscellaneous Expenses
Non-Economic Damages
Non-economic damages are more challenging to quantify. In some cases, it may be in your best interest to pursue a lawsuit to obtain compensation. Non-economic damages can include:
Pain and Suffering
Loss of Consortium
Loss of Enjoyment of Life
When pursuing an accident case, you will want to make sure that all damages have been accounted for. Your personal injury lawyer can help by making sure that nothing is left out of your insurance claim.
Writing a Demand Letter
To initiate your personal injury claim with the insurance company, you will need to put together a demand letter. Once you have submitted the letter, it will be assigned to an adjuster at the insurance company who will review it, investigate the case and determine whether they will deny your claim or offer you a settlement. The letter should include a presentation of facts, the damages you are facing, the compensation you are requesting, and evidence in the form of documentation that supports your claim. Once you submit your letter, the insurance adjuster assigned to your case will contact you either by phone or in writing. Your lawyer will play a vital role in this process by taking the lead in negotiating with insurance companies.
Negotiating Your Settlement
Negotiating a personal injury settlement can be incredibly stressful. A lot is riding on personal injury settlements, which is why you will want a lawyer by your side who is skilled in negotiation. They will be able to help you determine your bottom line and review all settlement offers that are made. Your lawyer will know when it’s time to settle. Although it may be tempting to accept the first offer, your lawyer will know when to continue negotiating for a better offer. Keep in mind that the insurance company will be looking to pay out as little as possible to you. Lawyers play a crucial role in knowing when to continue negotiations versus when it’s time to accept the offer. If you are unable to reach an agreement with the insurance company, your lawyer may recommend that you consider taking things to the next level by filing a lawsuit.
An accident can impact you in several unexpected ways. Some, you may have never even considered. An accident settlement is intended for you to feel whole again in the wake of an accident. To ensure this happens, you need to retain the assistance of an experienced personal injury lawyer, like a Personal Injury Law Firm Memphis, TN, as soon as possible.
Thank you to the experts at Darrell Castle & Associates for their input into personal injury law.
