Understanding Insurance Claims and Personal Injury
It can be difficult to comprehend that a dollar amount could be attached to pain and suffering or that the loss of a loved one could somehow be reimbursed. Although this is a delicate situation, victims and their families deserve compensation to recover damages and provide financial support. A person who is liable for an accident should be held accountable for a victim’s medical expenses, pain and suffering, time lost from work, other lost income, permanent physical disability, disfigurement, emotional damages and other losses.
This compensation amount, or initial claim amount, is determined using a formula. Insurance companies must assess how much a claim is worth. The total amount of compensation is usually influenced by additional factors as well.
How the Insurance Company Values a Claim
Insurance companies take into account several considerations to arrive at their compensation amount. The one who has been harmed or who is grieving is often asked several questions surrounding the incident of the case at hand. For the grieving plaintiff, they might be asked how much time they spent with their loved one before their death. This is a common occurrence in many personal injury cases in Colorado.
A Denver personal injury lawyer can help clients in these matters. A dollar amount has to be determined for a claim. Some figures are easy to compute as they relate to a specified figure, such as loss of income or medical expenses. However, an amount has to be determined for pain and suffering or other losses. There are a few ways insurance companies determine this.
Valuing Pain and Suffering and Emotional Damage
Insurance companies use a damages formula to come up with the claim amount. In regards to emotional damages, pain and suffering, and permanent disability amongst other damages where a medical injury is related, an adjuster will take the total amount of medical expenses and multiply this amount with a sum of between one-and-a-half and five. Injuries that are more serious or permanent are multiplied with a higher amount, which is determined by the adjuster. Lost income is then added to this amount.
The final number becomes the initial settlement amount should a settlement occur. Other factors can change this amount, but this is the basis for the initial claim amount.
Factors That Affect the Amount the Insurance Company Offers
Other factors in a case can change the initial settlement offer. If an injury is obvious to others, the claim amount may increase as well. It is important to note that there are policy limits, and a plaintiff will not be awarded an amount that is higher than this. For example, if a defendant has $30,000 in liability insurance, that is the maximum amount that will be paid for damages and legal fees by the insurance company. Give us a call to discover how our Denver personal injury lawyer can help you with your case.
Intimidation From Insurance Adjusters
Unfortunately, many insurance adjusters will try to intimidate or rush accident victims into settling for less than they deserve. After an accident, you might assume it’s a fairly simple process to make a claim for compensation. However, the insurance company might make it much more complicated than it needs to be.
You may find that a representative from the insurance company is questioning whether your injuries are really as bad as you claim. They may also treat you as though you had a part in making the accident occur in the first place. The important thing to remember is that you are the victim. You sustained injuries and damages and deserve compensation for your losses. If you need help dealing with aggressive insurance adjusters, consider working with an experienced personal injury lawyer. They can communicate with the insurance company on your behalf and make sure you get a fair settlement.
Colorado Car Accidents and Insurance Claims
Car accidents are a common type of accident in which victims file an insurance claim for their damages. There are several factors that come into play when trying to claim compensation from the responsible party’s insurance. What type of insurance do they have? Do they have liability insurance? Do they have car insurance at all? Be sure to collect all the contact and insurance information from the other parties involved in the car accident before leaving the scene. This will make it easier to make the appropriate claims going forward.
You should also seek legal guidance from a Colorado car accident attorney. Insurance companies are motivated to protect their bottom line. A personal injury lawyer will protect your rights and advocate on your behalf.
Building the Strength of Your Case
If a plaintiff has a strong case, such as a medical malpractice claim in which a doctor left a surgical instrument inside the victim, the insurance company is more likely to offer a larger settlement because they foresee success in court. If a victim’s case is weak and does not provide essential evidence a judge or jury would need to decide in their favor, the insurer will probably offer much less.
A personal injury lawyer will get to work immediately to collect the necessary evidence and contact the right experts to back up your claim. The Colorado bad faith insurance attorneys at Bachus & Schanker can help you if you’ve been in an accident and are not treated fairly by the insurance company. We have experience with car accidents, truck accidents, construction accidents, medical malpractice, catastrophic injury accidents and wrongful death cases in Colorado. Contact our team today for a free and confidential consultation on your case.
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Attorney Kyle Bachus knows first-hand how difficult it can be to suddenly lose a loved one in an accident. It’s also devastating when you or a family member suffers severe injuries that forever change your lives.
Kyle wrote this book as a resource from his personal experience for families who have suffered a traumatic loss.