After you get into a car crash, insurance companies get to work. They begin to try and figure out how much the accident is going to cost them, and a variety of factors go into those calculations. Let’s take a look at how insurance settlements can be totaled and why you may want a San Angelo, Texas car accident lawyer on your side.

What Factors Affect Insurance Settlements?

When insurance settlements are calculated after a crash, adjusters have to look at a wide range of factors before deciding on what to offer an injured driver. They have to consider things like:

  • How severe your injuries are
  • How obvious it is that their insured driver caused the crash
  • What kind of recovery you are in for
  • Whether you are able to work and earn income after the crash

From there, the insurance adjuster will usually use what’s known as the “multiplier” method. They will take your medical expenses, multiply them by a number between one and five, add these numbers, and then add lost income. The higher the multiplier, the more pain and suffering they expect to pay out for.

So if you have $10,000 in medical bills and severe injuries, you might have a multiplier of four. $10,000 gets added to $40,000, then your lost income is added in. Let’s say you missed out on $4,000 in pay. This equals a settlement of $54,000.

Should Drivers Negotiate Insurance Settlements on Their Own?

However, insurance settlements are rarely calculated and then just handed over to an injured driver. The insurance company wants to get out of this for as little money as it can, so it may offer you far less than $54,000 and hope that you take it. Negotiating with an insurance company on your own can be tough.

When Should I Hire a Lawyer?

This is why hiring a personal injury attorney is advisable. The lawyers from our firm have plenty of experience tangling with insurance companies and doing our best to make them pay out fair insurance settlements. If you were seriously injured in a car crash, a lawyer from our firm is ready to help you fight for fair compensation.

Will I Have to Go to Trial?

If you are worried that your case will go to trial, forcing you to testify in court, we understand. Fortunately, many cases like this can be resolved through negotiations before there is a need for a trial. If your case does progress that far, our lawyers will help you prepare to testify and build a case that can succeed in court.

Contact Our Law Firm

If you want to learn more about your legal options, contact the Mathis Law Firm. We can schedule a consultation and learn more about your situation. If we think that we can help you fight for a better settlement, we’ll get right to work.