Motor accidents can range from mild to severe, from minor damage to significant property damage and loss of lives. The best part is that you have the right to financial compensation after such an ordeal leads you to injuries, property damage, or lost wages. Nonetheless, you should also understand some top factors determining how much to expect from such a settlement. The information below covers this topic to open your eyes to these factors and how best to approach them to ensure you receive what you deserve.
The Accident’s Liability and Fault
This factor identifies the liable and at-fault motorists in a road crash. It’s also one of the top determinants of how much to expect when settling the case with the other involved parties. Statistics show that about 40% of road accidents result from distracted driving and driving under the influence in New Jersey.
You’re eligible for total compensation for your damages if someone else is responsible for your car accident. Conversely, you may not enjoy any financial recovery if the authorities identify you as the motorist at fault or if you share in the incident’s responsibility. The first and best action is to talk to a New Jersey car accident attorney who can better explain whether you’re the victim or culprit.
The Available Medical Reports
It’s always advisable to seek immediate medical attention as soon as possible when you, unfortunately, find yourself in a road crash. Sadly, many parties involved in such terrifying occurrences don’t take this seriously, not knowing how much it influences how much they can expect from a settlement. Insurance providers leverage all opportunities to undermine your claim and reduce your financial recovery as much as possible.
Failure to acquire medical assistance after a motor accident gives a clear window to the compensating party to claim that the accident didn’t cause your injuries. Ensure you record everything with a healthcare provider, including any symptoms you experience and the injuries you suspect may’ve resulted from your accident.
Injury Severity and Type
Car accident results vary, depending on the collision’s impact, the involved vehicles, and where the incident occurred. Your injuries’ nature and severity significantly affect how much you can anticipate recovering from financial compensation. Undoubtedly, the more serious the injuries, the higher the settlement amount. For instance, traumatic brain injuries lead you to a larger settlement than a broken limb, primarily due to the high treatment costs and long recovery periods.
Nevertheless, this fact doesn’t mean you should avoid seeking compensation for minor injuries. You’re entitled to proper compensation if the injuries you incur in a car accident result from somebody else’s careless driving. Your lawyer will help you acquire the compensation you deserve.
The Statements Regarding the Occurrence
Evidence collection after a road accident entails recording statements from you, the other drivers, and eyewitnesses. Nevertheless, these statements can work against you or in your favor regarding acquiring the best settlement. Many motorists in New Jersey have implicated themselves through their statements about the traffic crash they find themselves in.
You must be careful about what you say after the incident, primarily when talking with the other driver at the scene or with your insurance provider over the phone. Additionally, you must be careful when gathering witness statements in New Jersey because some can incriminate you and cause you to lose financial recovery.
Getting appropriate and adequate compensation should be your priority after a car accident. However, that only plays out in your favor if you understand the factors determining how much to expect in such a settlement. The above points drive the message home about these factors to ensure you don’t mess with your chance to receive the financial recovery you deserve.