Have you ever been in a car accident and felt confused about the insurance payout you would get? Whether you’ve been in a fender bender or have suffered from more serious injuries, it’s important to understand how much money you can expect to receive for your claim. In this article, we’ll take a look at some of the factors that go into determining your settlement amount after an auto accident.
First, it’s important to note that every state has different laws and regulations that govern how claims are settled after an accident. So while this article will be focused primarily on the insurance process here in the US, keep in mind that these concepts may not necessarily apply to other countries. That being said, let’s take a look at some of the things that will affect your insurance payout.
One of the biggest factors in determining your settlement amount is the severity of your injuries. If you’ve been in a major accident and have suffered severe injuries, you can expect to receive a much higher payout than if you’ve only sustained minor cuts and bruises. Insurance companies will oftentimes use a medical billing code to determine the severity of your injuries, so be sure to keep track of all documentation related to your treatment.
Another thing that will affect your insurance payout is whether or not you were at fault for the accident. If it was deemed that you were responsible for causing the accident, your settlement amount will likely be reduced. On the other hand, if the other driver was determined to be at fault, you can expect to receive a larger payout.
It’s also important to note that your insurance company will take into account any property damage that occurred as a result of the accident. So if your car was totaled in the accident, you can expect to receive a much higher settlement than if only your bumper was damaged. Be sure to keep track of all documentation related to the damage done to your vehicle so that you can provide it to your insurance company when filing your claim.
Lastly, the insurance company will also consider any lost wages that you may have incurred as a result of the accident. If you were unable to work because of your injuries, you can request that this be included in your settlement. Be sure to keep track of any documentation related to your lost wages so that you can provide it to your insurance company.
In conclusion, understanding how much money you’ll receive from your insurance company after an auto accident can be confusing and overwhelming at first. However, by keeping the factors mentioned above in mind when filing your claim, you’ll be able to better understand what to expect as your case moves forward. So if you’ve been injured in a car accident and need assistance with your insurance payout, consider contacting Napoli Shkolnik PLLC today. Their experienced personal injury attorneys can help you navigate the complexities of the insurance claims process and fight for the full amount of compensation that you deserve. Call them today at (844) 860-0949 to schedule a free consultation.