Chattanooga Car Accident Settlement Calculation

Deciding to settle can be a big decision for someone injured in a car accident, and car accident settlements can be complicated. While these events can be stressful, know that a skilled car wreck attorney can help to guide you through these times. Read on to learn more about what goes into Chattanooga car accident settlement calculation, as well as the ways that a professional car accident attorney can make a difference in your case.

Who Determines the Amount of a Settlement

The amount of a Chattanooga car accident settlement is determined by an agreement between the parties involved. A settlement does not occur if either side does not agree. The plaintiff usually throws out the first number in a settlement negotiation and then the defendant will come back offering a much lower number, and it goes back and forth until there is a number that both sides can agree to.

In a lot of cases, the actual settlement number comes from the insurance adjuster. The defendant does have some influence over the settlement, but they do not get to decide the amount offered. The insurance adjuster cannot force the defendant to settle if they do not feel it is a fair offer.

How Chattanooga Car Accident Settlement Calculation Works

Settlements are calculated by the number of damages that an injured individual suffers. This amount includes medical expenses, future medical expenses, lost wages, future lost earning capacity and money for mental damages like pain and suffering, loss of enjoyment of life, and mental anguish.

When an individual settles a case, a jury does not weigh in at all. A jury only awards a verdict. If they do not award a verdict, then they do not contribute to any numbers in a particular case. A settlement is based on what the lawyers and/or the insurance company think that a jury will award. Past jury awards act as a guide to lawyers and insurance adjusters in understanding whether or not a case is worth the cost of a trial.

Effect of Negligence on a Settlement Amount

If the injured individual was negligent in the accident, then their settlement amount is likely to be decreased. For example, if they were 50% or more at fault in Tennessee, then they could not recover anything. But if they were less than 50% at fault, they would be entitled to recover an amount of money equal to the percentage of the other individual’s fault for their entire damages. It is important to note that someone’s negligence can decrease or even prevent any recovery compensation.

Role of an Attorney in Chattanooga Car Accident Settlement Calculation

The injured party’s attorney can play a large role in determining the value of any settlement by making sure the injured individual receives all of the medical treatment necessary, making sure to document all lost wages, calculate the loss of future income (sometimes an expert will be retained to project these numbers), by talking with witnesses, and developing proof of damages. At this point, the injured party’s attorney will submit a package to the insurance company to prove the damages in a legally sophisticated way in the hopes they will be willing to pay. Having an experienced plaintiff attorney will have a large influence on the amount that an insurance company is willing to pay to settle a case.

A car accident attorney can possibly increase the amount of money that a client recovers in a settlement. There have been insurance studies that indicate that someone with a lawyer recovers three times as much money than an individual without a lawyer. Even after paying an attorney’s fee, the client still walks away with more money in their pocket, sometimes even double the amount of money. If you have suffered from the negligence of another driver and need help in your Chattanooga car accident settlement calculation, call an experienced attorney today to set up your initial consultation.