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Calculating Houma Car Accident Settlements

Houma car accident settlements are an opportunity for negotiation. Dedicated attorneys are going to accentuate all facts of liability, particularly those facts of liability that they believe if a jury heard the evidence, would affect the outcome of how much money was awarded. In cases of aggravated liability, juries will award more money.

An attorney will look at the past medical expenses, past lost earnings, and the future medical expenses. They may use an economist and a life-care plan expert to calculate that the number of cases in which somebody has a serious personal injury that will require ongoing medical treatment for the rest of their life.

Another means of settling Houma accident cases is mediation in which a mediator, sometimes an attorney can try to bring the parties together and conclude or mediate the case. There is a written agreement as to the terms of the settlement,  and funds are usually paid within 30 days thereafter. If you need assistance understanding the calculation of car accident settlement in Houma, contact an experienced lawyer today.

Future Lost Earnings

In regards to future lost earnings, if a person has a serious injury that affects their ability to earn money, the attorney will use a vocational rehabilitation expert to determine the residual ability for that injured person to earn money. Attornies use economists to determine the value of a work-life expectancy of that economic loss and reduce it to present value. These factors are used to calculate the items of special damages that have already occurred and that which will likely occur in the future.

The general damages for a broken leg, an amputated leg, or a brain injury are going to vary for every individual person. The attorney can look at what has happened in the past under similar circumstances, examine past jury verdicts, look at the judgments of trial courts for those general damages, and see what the Court of Appeals has said about those amounts of money in reviewing jury verdicts and trial court judgments. That is a broad approach to calculating a settlement. Attornies ask may ask about what is the likelihood, if the matter went to court, that the jury would award a certain amount of money? That is an honest evaluation of the damages. This is presented to the people at fault and they may look at it and evaluate it themselves. However, there may be differences of opinion on the number of damages or there may be differences of opinion on the liability.

If a person is involved in an accident in Houma and they may be somewhat at fault, that could potentially reduce how much money they can recover. That is called comparative negligence. They will review the proof of evidence of injuries and liability and come up to an agreed settlement demand that is made to the people at fault. Then, after that, it is a negotiation.

Negligence Affecting the Settlement Amount

Negligence on the part of the injured person definitely affects the settlement calculation in Houma. There is a comparative negligence statute in Louisiana, and if the party bringing the claim is a percentage at fault, it will reduce their recovery if the matter goes to trial. Insurance companies and those who are going to pay a settlement can look at the facts and come to their own opinions, but in an intersectional collision, for example, arguments could be made that the injured party is somewhat at fault. That is called comparative negligence and it does affect the settlement amount.