Hammond Car Accident Settlement Process
In any accident litigation, including automobile wrecks, there is always an option to conclude a case by settlement. Settlement occurs when the injured person is willing to accept the money that the at-fault party, or often their insurer, is willing to pay.
Settling outside of court can avoid the lengthy litigation process while getting you the compensation you need for your injuries. To learn more about the Hammond car accident settlement process, reach out to an auto wreck attorney today.
Collecting Evidence for a Car Wreck Settlement
A significant part of the vehicle accident settlement process is gathering evidence. An attorney will collect all of the information that is important for insurance companies to evaluate a case for settlement. Insurance companies pay a premium on injuries that are permanent, so it is imperative to demonstrate the full extent of losses sustained from an accident. Lost wages, medical expenses, and inability to earn in the future are all losses that could be compensated.
Proving the Severity of Injuries
The more serious an injury, the more likely an insurer will pay top dollar on a settlement. Some medical reports will assign a percentage of impairment to an injured individual. A skilled Hammond attorney can obtain the necessary invoices and receipts from healthcare providers to ensure that the injured individual receives a settlement that adequately compensates the severity of their injuries.
Lost Wages
If an individual was employed at the time of the crash, it is essential to get lost wage documentation. This can include check stubs, income tax returns, and W2s for more severe injuries. If someone is self-employed, they will need to obtain their Schedule Cs from their income tax returns to show their net income.
Once there is a base understanding of what the earning capacity or earning level of the injured person was, the next part of the formula is to make sure that the physician or healthcare provider has prepared a report that indicates that the injured party was unable to attend to his regular work activities. A knowledgeable attorney can help an injured individual obtain all of the documents needed to prove lost wages.
Quantifying Future Losses
If someone has a rather serious injury that prevents them from returning back to their chosen occupation, they may have a claim for impairment of earning capacity or future lost wages. Courts require that all future losses be presented in the court in “present value.” This usually involves bringing an expert witness that is an economist or a CPA accountant that can calculate the present value of a future amount.
The same can be said for future medical expenses. If someone has an injury that will require ongoing medical treatment into the future indefinitely, it is important to document that the treating physicians give an opinion of what will be the necessary medical treatment in the future. From there, another expert called a Life Care Plan expert can calculate medical costs over a lifetime. These damages also must be reduced to present value. A Hammond attorney can ensure that the injured party obtains all of the necessary documents and speaks with the relevant experts during the settlement process.
Negotiating Vehicle Accident Settlements
Once an injured party and their attorney compile all the evidence in an auto wreck case, they will make settlement demand to the insurance carrier. The insurance carrier may accept the offer of the injured party, or they may make a counteroffer. If an insurance company is trying to lowball the injured individual and is not offering a fair settlement, this may be an instance where taking a case to a jury would result in a better outcome.
Many cases are resolved short of filing a lawsuit. Even for cases that do go to trial, settlement may still be an option. Settlements can take place during the trial, while the jury is deliberating, and even after trial. A Hammond attorney can advise the injured party throughout the negotiation process, helping them determine whether settling or going to trial is the best option based on the facts of their case.
Partner with a Dedicated Attorney During the Hammond Car Accident Settlement Process
There are many reasons why settling your vehicle crash case may be the best option for you. Our legal team can help you through the Hammond car accident settlement process, negotiating with insurance companies on your behalf and pursuing a fair settlement. If you have been injured in a car crash and are considering settlement, reach out today. We can explain your legal options to you and ensure that the at-fault driver is held responsible for their actions.