Determining the value of your settlement before you file a claim can be complicated, as it depends on many factors that are revealed in the discovery phase of your case. There are several online calculators for such claims, but they are only able to give you a rough estimate of what you could get from the insurance company.
In this article, we will discuss what is taken into account when a settlement is calculated, and what you can expect from several possible scenarios.
How Will Your Settlement Be Determined in the State of Missouri?
First, let’s go through the main principles that influence the way a car accident is handled in Missouri. As an “at-fault” state, Missouri gives the responsibility of paying for damages to the driver who is responsible for causing the accident. Sometimes, other parties may be involved, like companies hiring drivers, or the municipality in charge of maintaining roads.
Determining liability is one of the most important parts in reaching a settlement for the victims of a car crash who have suffered personal injuries or property damage as a result of the unfortunate event. As long as you have the minimum auto insurance coverage required by law, you will be paid by the insurance company of the other driver.
If you had anything to do with causing the accident, liability will be defined as a percentage shared between drivers, and your settlement will be reduced by the percentage of fault you carry. This principle is called Comparative Fault.
How Is a Settlement Amount Calculated?
To find out how much the victim of a car accident is entitled to, courts, attorneys, and insurance companies look into the damages suffered by the people involved in the accident. There are several types of damages you can file a claim for:
- Medical bills for your health investigations, treatments, and interventions. The calculations are based on your medical history and the costs needed to reach MMI (Maximum Medical Improvement).
- Property damage, starting with the repairs your car needs to any other personal items that were damaged because of the accident.
- Lost wages, which are calculated based on your income reports, normal working hours, and any opportunity of income you might’ve missed because of the accident.
- Non-economic damages, such as pain and suffering, mental injuries, lost relationships, emotional strain, etc.
Besides looking into all the expenses the accident has forced on you, it’s also important to see what are the limits of your insurance coverage. Based on that, you will need to adjust your settlement negotiations or even look into other financing options.
How Much Does an Average Car Accident Settlement Get You in Missouri?
To give you an idea of what to expect, here are some rough estimates. The numbers shows that acar accident with no injuries will typically result in a settlement between $3,000 and $15,000. If injuries are inflicted, the case can go from $15,000 to $1,000,000 and even above that.
The best way to get a realistic answer to that question is to speak with an experienced St. Lois car accident attorney who can look at the details of your case and tell you what you can expect. These estimations are reliable, because the vast majority of car accident attorneys work on a contingency fee, meaning they only get paid if and when you get a settlement.
If you have been involved in a St. Louis Car Accident give The Hoffmann Law Firm, L.L.C. a call today for a FREE case evaluation — (314) 361–4242