Calculating a Car Accident Settlement in Cicero

There are many different kinds of damages to consider when compensating for a severe injury. It can be confusing for someone to parse through them to determine how much money the insurance company should pay out, especially if they do not have a lawyer to help them. If you are looking to calculate a car accident settlement in Cicero, you should do so with a lawyer at your side. A quality car accident attorney could use their prior experiences to help you determine the best offer at the settlement table.

Determining the Value of a Claim

Lawyers could explain the approximate value a jury would likely award to the plaintiff, given the facts of the case. They will factor in economic and non-economic damages, and occasionally punitive damages if applicable. While this is not a precise science, a lawyer could give a fair estimate as to what the value of the case should be, or has been in similar cases in the past.

People also do not want the insurance adjuster to take advantage of them by offering a lower amount than the claim is worth. It is always advisable to consult with a legal professional prior to settling a local car accident case since most individuals do not have the expertise or experience to calculate what the value of their losses should be.

Who Determines the Amount of the Settlement?

Settling a personal injury case involves negotiation, with one side making an offer and the other side making a counter-offer. Ultimately, only the plaintiff and defendant have the authority to settle a case. It is important for the plaintiff to remain informed of the negotiations so that their lawyer has proper guidance when managing the settlement process.

There are no hard and fast rules for calculating a fair settlement amount but there are many factors that attorneys consider. There may be an issue of liability or a dispute in the facts as to how the injury occurred. There may be disputes over the injury itself or the treatment that followed, which could lead to an insurance company refusing to pay certain damages that they otherwise should have.

What if a Settlement Cannot be Reached?

A settlement is a voluntary agreement between the plaintiff and the defendant to resolve the case. If the parties cannot reach an agreement, the case goes to trial where a jury decides the award. A jury verdict is not considered a settlement because the parties did not reach that agreement between themselves. It is important for claimants to understand that a settlement can resolve a dispute quickly whereas a full trial could take years.

Other Factors to Consider when Calculating a Settlement

Calculating auto collision settlements in Cicero involve more than just counting up the cost of medical bills. An accident may be the fault of more than one person, including the plaintiff. If the plaintiff is partially responsible for his or her own injuries, the amount of the settlement will be less than if it was the complete fault of the defendant.

Injured parties should consider that they will have to pay their attorney for their services at the end of the process. However, even after paying a lawyer a percentage of the recovery as their fee, the plaintiff will typically walk away with more money in their pocket than if they attempted to settle the case themselves.

When the plaintiff accepts a settlement agreement, it ends the case for good. If they continue to have medical problems as a result of the injury, a settlement forecloses the chance of additional recovery. If injuries are predicted to be continuing, or lifelong, the settlement amount must reflect that fact.

Work with an Attorney to Calculate a Cicero Car Accident Settlement

It is not at all a guarantee that an injured person must present their case before a jury in order to recover compensation for the injuries they sustained. The more likely scenario is that they work with a lawyer in Cicero to calculate a reasonable settlement offer for their car accident. Schedule a consultation today to discuss calculating a car accident settlement in Cicero.