​How Much Is My Car Accident Claim Worth?

​How Much Is My Car Accident Claim Worth?

If someone else causes a car accident that leaves you with painful injuries, you can hold them accountable by pursuing a car accident claim against them. A successful claim can provide you with the money you need to cover your medical expenses, replace lost income, and prepare for the future. The value of your car accident claim depends on the circumstances, and it helps to know what to expect from the outset.

Below, we explore the different factors that could affect your car accident claim’s value, as well as potential sources of compensation, steps to take after an accident, and how an attorney can protect your rights. Keep reading to find out how you can maximize the value of your injury claim after a car accident.

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Sources of Compensation for Car Accident Claims

In most states, you can file a liability insurance claim against a driver who causes an accident that injures you. Liability insurance pays for other people’s losses when the policyholder is at fault for an accident. The amount of required liability insurance varies from state to state.

Texas, for example, mandates the following minimums:

• $30,000 per person in bodily injury liability coverage
• $60,000 per accident in bodily injury liability coverage
• $25,000 per accident in property damage liability coverage

Assuming the other driver has the proper insurance coverage, this means you should have access to at least $30,000 for your injury-related losses and at least $60,000 for the injury-related losses of everyone in your vehicle. You could also claim up to $25,000 for property damage losses due to the accident, such as repair or replacement costs for your vehicle.

Depending on the circumstances, you could claim compensation from the following additional sources after a car crash:

• Personal injury protection (PIP) coverage. A dozen states have replaced the traditional fault model of insurance with a no-fault system. In these states, injured drivers turn to their own PIP insurance first for coverage of medical expenses. To step outside the no-fault system, injured motorists must show their injuries meet certain severity thresholds. Other states, including Texas, allow drivers to purchase optional PIP insurance, which provides injured motorists with an additional safety net.
• Medical payments (MedPay) coverage. MedPay coverage is similar to PIP insurance but is entirely optional. This type of insurance pays for your and your passenger’s medical costs after an accident. MedPay also covers your medical bills if you get hurt as a passenger in someone else’s vehicle or while you’re walking or riding a bicycle.
• Uninsured motorist (UM) and underinsured motorist (UIM) coverage. If the other driver has no insurance, has insufficient insurance, or flees the scene of the accident, you could get money from your UM/UIM insurance policy. Most states require that insurance companies offer such coverage, so you likely have it unless you previously rejected it in writing. UM/UIM pays for your medical and car repair bills after an accident involving a driver with no insurance.
• Auto collision coverage. This type of optional insurance coverage pays for repair or replacement costs when your vehicle sustains damage in an accident, no matter who is at fault for the damage.
• Health insurance coverage. If your accident-related expenses exceed the limits of your auto insurance policy, you could seek compensation for your medical bills by using your health insurance as a form of secondary coverage.
• Workers’ compensation insurance. If you get hurt in an accident while driving for work-related reasons, your employer’s workers’ compensation insurance policy may pay for your medical costs and a portion of your wage losses.
• A personal injury lawsuit. If you cannot get the money you need by filing insurance claims after an accident, you might choose to file a personal injury lawsuit with the help of an attorney. Your attorney will argue your case in court to secure a verdict that awards you money for your medical and repair bills, lost income, pain and suffering, and other losses.

Factors That Could Affect the Value of a Car Accident Claim

Every car accident claim is different, and your unique situation will determine how much yours is worth.

Let’s review some key factors that could affect the value of your car accident claim:

• Sources of compensation. You might have more sources of compensation available after an accident if multiple parties are liable for the accident or if you have robust insurance policies of your own. Having several sources available to you means you are likelier to get full compensation for your losses, especially if your claim is too expensive for one source of coverage.
• Your injury severity. Severe injuries make everything more complicated and expensive. They take longer to heal, require more costly medical care, and force you to miss more time at work. The upshot is that a severe injury could significantly increase the value of your claim, since medical costs make up the bulk of most settlements.
• Your personal health history. Your personal health history could affect the value of your car accident claim if, for example, you have a pre-existing condition. An insurance company or defense attorney might argue that your pre-existing condition is partially to blame for your current injuries, meaning they do not have to compensate you for their full value.
• Your income and earning ability. A serious injury can prevent you from returning to work for weeks, months, or forever. In other words, you might miss a good chunk of your income. And if your injuries keep you from working in the long term, they will also reduce your lifetime earning capacity. A car accident attorney can pursue money for short-term income losses as well as losses in future earning ability.
• Division of fault. Different states have different rules about the division of fault and how it affects a claimant’s case. In Texas, for example, you can recover compensation as long as you are no more at fault than other parties who contributed to the wreck. However, the amount of money you can get for your claim decreases in proportion to your share of fault. This dynamic is another reason to let an experienced car accident lawyer handle your case, as they know how to minimize their client’s fault and maximize their compensation.
• Your personal behavior. When you get hurt in a car accident, the insurance companies expect you to take certain steps to care for yourself and avoid further injury. For instance, you should always see a doctor after an accident to learn the extent of your injuries and then follow the doctor’s orders to prevent your condition from worsening. Jeopardizing your health by failing to seek care or refusing to listen to your doctor could reduce the value of your car accident claim.
• The quality of your legal representation. Choosing an experienced, tenacious lawyer is one of the best things you can do to strengthen your case. A good lawyer knows how to investigate an accident, use the evidence they recover to build an airtight case, and negotiate forcefully for a fair settlement. And if the insurer refuses to cooperate, your lawyer can file a lawsuit and pursue compensation in court.

Types of Compensation You Can Get for a Car Accident Claim

There are two main types of compensation available in most car accident claims. You can claim money for specific, economic losses, such as medical bills and lost income. You can also get compensation for subjective, personal losses, such as the pain and suffering you endure because of the accident.

Calculating the first type of compensation is relatively straightforward and based on:

• Hospital bills and other medical costs you incur because of the accident
• Future medical expenses you will likely incur because of your crash injuries
• Incidental costs, such as travel expenses for going to doctor’s appointments
• Lost wages and other income from any time you miss at work during recovery
• Losses in lifetime earning capacity due to long-term or permanent injuries
• Repair costs for damage to your vehicle or replacement costs for a total loss

Calculating compensation for subjective losses like pain, suffering, and lost quality of life is much harder. Unlike a medical bill or missing paycheck, the personal cost of overwhelming pain or emotional anguish has no exact dollar value.

Insurance companies often try to take advantage of the inherently subjective nature of these losses to decrease the settlement figure they offer. They may try to apply a rigid formula to your case, claiming that the pain and suffering you experienced were relatively minor for this, that, or the other reason. And they will back up that assertion by pointing to their formula, as though it somehow provides insight into your unique situation.

Instead of letting the insurance company dictate terms, get legal help of your own. An experienced car accident attorney will get to know you and understand how your injuries affect your life. They will also know how to fight these tactics and increase the value of your subjective losses. And they will back that up with the threat of a lawsuit, which no insurer wants to face.

What You Can Do to Get More Money from a Car Crash Claim

Getting hurt in a car accident can make you feel helpless and overwhelmed, but you have the power to turn your situation around.

Once you seek appropriate medical attention and your condition is stable, to protect your legal rights and support your physical recovery:

• Follow your doctor’s care plan as closely as possible, and attend all follow-up medical appointments as scheduled.
• Document your recovery progress by starting a pain journal.
• Retain any evidence you collected at the scene. This could include photos of the wreckage, skid marks, evidence of your injuries, and the names and contact info of any eyewitnesses.
• Ask the police for copies of the official accident report.
• Keep copies of your medical bills and other healthcare records.
• Gather proof of lost income, such as pay stubs or bank statements.
• Store this valuable documentation in a safe but accessible place.
• Bring copies of the evidence you gather to a car accident lawyer.
• Watch what you say to the insurance companies, even your own. They want to save themselves money by paying you as little as possible, and they will try to use anything you say to them against you.
• Avoid posting anything on social media while your case is pending.
• Get help from an experienced car accident lawyer.

How a Car Accident Lawyer Can Increase Your Claim Value

You don’t have to deal with the aftermath of a car accident alone. Perhaps the best way to increase the value of your car accident claim is to work with a knowledgeable local lawyer. A good car accident lawyer will know the relevant laws, insurance regulations, and other factors that could affect your claim and use that knowledge to get you the best possible results.

A car accident attorney can maximize your claim value by:

• Evaluating your case and explaining your options in a free consultation session
• Identifying sources of insurance coverage and other compensation for your claim
• Calculating a fair estimate for the value of your car accident injury claim
• Conducting an independent investigation of the car accident that harmed you
• Uncovering valuable evidence to support your claim
• Interviewing eyewitnesses who saw the crash to obtain supporting testimony
• Working with expert witnesses, such as accident reconstruction specialists, to strengthen your case
• Gathering medical records, cell phone records, and other hard-to-get evidence
• Analyzing everything they gather to determine who is liable for the accident
• Managing important case documents, details, and deadlines on your behalf
• Preparing and filing a car accident claim that accounts for all your losses
• Communicating with the other driver and the insurance companies on your behalf
• Negotiating aggressively to increase the value of your car accident injury claim
• Taking your case to court and representing you at trial when necessary

As you can see, handling a car accident claim is an involved process. The sooner you talk to a personal injury lawyer, the more they can do to help you.