What Should Be Covered in an Accident Claim Settlement?

In many cases, an accident claim settlement provides for the repair or replacement of a vehicle and emergency medical care for evaluation or minor injuries.  The insurance company offers a reasonable amount and the matter is closed. Unfortunately, other accidents are more severe and even deadly.  The stakes are much higher.  Victims need to know what is covered by the accident claim settlement.

Knowledge is Power

In the event of a serious automobile accident, understanding of victims’ rights and compensation is the difference between ongoing devastation and hope.  Insurance adjusters are hired to settle for the lowest amount possible, without dragging the matter to court.  The company hopes to pay off as quickly as possible, before the injured realizes the full extent of the consequences of the accident.  No adjuster will freely offer up the information that the injured and/or family members are entitled to:

• All Medical Expenses
• Pain and Suffering
• Loss of a Normal Life
• Lost Wages
• Property Damage

Now and Later: Current and Future Medical Expenses

When considering medical expenses, the insurance company will want to settle for the cost of current care to fix an immediate injury.  However, it is vital to consult the health care provider as to the long-term prognosis and any care required in the future.  The costs following a major accident are astronomical, with the potential to be ongoing for a lifetime. The settlement should include at least:

•  Therapy costs
•  Future surgeries
•  Nursing care
•  Hospitalization or rest home stays
•  Medical aids and medications directly related to the accident

In More Ways than One

The injured and family members continue to hurt long after the accident claims have been resolved.  For many, the pain and suffering lasts a lifetime.  For this reason, documentation from the medical doctor and medical facilities regarding current and long-term costs is vital.  Although money never makes the consequences of an accident go away, it does provide for a modicum of justice for the victims.

Earning Power: Lost Wages

Following a serious accident, victims use up all of their sick leave or vacation time during the recovery process.  Compensation may be available for lost wages, even if the employer pays for the time needed to get well.  No one wants to spend all of their sick days or vacation recovering from an accident.  In cases that take away earning power for months or a lifetime, compensation is calculated with potential wages over time and estimated time until retirement as the variables.

Legal Help

For those injured in a serious accident, do not talk to, or settle out of court for damages, without first consulting an accident attorney.  Objective and not traumatized, a lawyer makes sure the victim and/or the family members are compensated for current and future medical expenses, pain and suffering, and the potential earning power of the injured.  While individuals and their loved ones concentrate on the process of recovering after an accident, legal counsel makes sure they do not become financially destitute in the process. Most importantly, those injured should never talk to an insurance company representative of the defendant without consulting with legal counsel first. Every single word spoken in such conversation(s) will be used against you.