How much compensation should I request for a car accident injury insurance claim?

One of the first questions that our St. Louis, MO car crash attorneys are asked is "how much should we demand as a settlement from the other driver and insurance company?" That is a difficult question to answer, especially if the injury victim is still getting medical treatment. There really is no accurate way to measure the value of a car accident injury claim until you have a complete understanding of all economic and non-economic damages, past, present and future. It does you no good attempting to negotiate a settlement until you have a complete understanding of what is at stake. This is a common mistake made by people who do not have an attorney on their side. Insurance companies do their best to settle cases very quickly, before a person knows how bad they are hurt and before they have the opportunity to consult with a personal injury attorney.

When it comes time to submitting a settlement demand to an insurance company, we follow many steps that have been perfected through years of litigating cases against large insurance companies, who will do anything to avoid paying what is fair to innocent victims of car accidents in Missouri. When thinking of the "right number" to ask for, understand that there is no magic formula for placing settlement value on a case. Insurance companies use claims computer software. As lawyers, we use personal judgment and the human factor. We do this because, after all, we are dealing with human beings and real damages.

Cardinal rule of settlement demands is to itemize each and every harm that has been caused by the crash. So for economic damages, itemize all medical expenses, prescription costs, lost wages, mileage, etc. And remember, if you took paid vacation time or paid sick time from work, you are still entitled to reimbursement from the at-fault party. For general damages, otherwise known as 'non-economic' damages, itemize all of the problems you have now that interfere with your ability to enjoy life. Examples would be loss of sleep, nightmares, pain & suffering, loss of mobility, interference with hobbies, etc. It is important to understand that your medical records are often not going to itemize your non-economic harms in a way that an unfair insurance claims adjuster will understand.

Finally, understand that claims handlers are highly trained in claim payout mitigation. Even if you are a smart, savvy professional, you will face an uphill battle ever obtaining a settlement that is in the "realm of reasonableness." This is something we often preach to our clients. If a settlement offer is not in the realm of reasonableness, why even continue to negotiate? There comes a time when litigation is the only viable option. For more information on how to negotiate your car accident injury settlement, contact our lawyers for a free consultation.