How to Increase Your Settlement Value for a Car Accident Claim

Expenses pile up quickly when you’re in a car accident, so it’s important you are compensated for damages properly to get the most from a car accident settlement. There are several ways you can begin this process. You might take this on yourself, or you might want the help of an attorney. How to increase your settlement value for a car accident claim relies on your understanding of the process.

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The Path to Maximizing Your Settlement

A car accident settlement is designed to restore you to the state you were in before the incident, both physically and financially. By increasing the settlement value for your car accident claim, you gain the power to cover all the expenses from the accident. Don’t accept just any offer the other party’s insurance makes. Patience, preparation, knowledge, and willingness to negotiate allow you to take control and ensure you understand how to get the most money from an auto accident settlement.

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Building a Strong Foundation with Documentation and Evidence

Knowing how to get the most money from a car accident settlement relies on the evidence backing your claim. The documentation you collect is critical in increasing your compensation for an accident. You need to be aware that there are certain steps to take in the aftermath of a car accident to ensure you get the highest settlement possible.

Right After An Accident

In addition to checking for significant injuries, you should also:

  • Call law enforcement
  • Take as many photos as you can to document the entire scene
  • Get the names and information of any witnesses
  • Get the accident report number
  • Observe if there are any cameras nearby to request footage
  • Exchange names and information with the other party

Law enforcement’s investigation will identify each party’s percentage of fault, which will be included when you obtain the report. The accident report is crucial to an accident settlement. This creates a timeline of the accident, shows the damages, and provides evidence of what happened needed to get the most compensation from a car accident.

Seek Medical Attention

Seeking prompt medical attention after a car accident is vital for several reasons. It establishes that your injuries are a direct result of the accident, not a pre-existing condition or unrelated issue. Even if you don’t feel immediate pain, it’s important to document any potential injuries. This proactive approach strengthens your claim and credibility. You must show you are actively pursuing recovery which will significantly help to increase the value of your auto accident settlement.

Do Physical Therapy, Surgery, or Steroids Increase Settlement Value?

Any medical treatment for accident-related injuries should be compensated. Your doctor will establish a treatment plan, and if physical therapy, steroids, or surgery are necessary for you to recover, following your doctor’s recommendations is vital to your health and increases the settlement value of your auto accident claim.

For example, when one person undergoes extensive physical therapy or medically necessary surgery, and another person with the same injury decides to forgo the additional medical interventions. The first usually gets more money in a settlement. Why? The first individual has evidence that physical therapy/surgery was necessary for recovery and can show how much it cost, giving them more leverage to negotiate a more valuable cash settlement with insurance. Treatment can also be a stressful experience, so you may receive additional money for emotional distress.

It is also important to know that when an injury requires surgery, the procedure and recovery process will extend the amount of time you are out of work, subsequently increasing lost wages. Since lost income is a substantial piece of a car accident settlement, the lost income incurred will increase how much money you get from a car accident claim.

Document Everything

It is crucial you collect every piece of evidence and documentation related to your case. Consider journaling what you’re going through as you undergo treatment to demonstrate the impact on your life. Keep receipts or any other proof of treatment for your claim. Remember to include any mental health visits, over-the-counter medications, and other out-of-pocket costs incurred, and keep them organized. This proactive approach will ensure you have everything you need when it’s time to make your claim. This is critical as it provides the undeniable proof of your losses and increases the value of your settlement.

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Why You Need to Write a Demand Letter

A demand letter is your official statement to the insurance company requesting compensation for the costs related to an accident. It summarizes the incident, presents your evidence, and provides fair compensation for the accident. This letter also serves as the beginning of negotiations with the insurance company.

Calculate A Fair and Reasonable Settlement

When calculating a settlement amount (*link to calculator*) for the demand letter, include economic and non-economic damages in the amount you ask for. You may want to consult a lawyer or get help calculating the exact amount, but all your damages must be included. This process is designed to ensure you receive a fair and reasonable settlement that covers the financial impacts of the accident.
Economic damages cover any monetary damages you have because of the accident, including:

  • Medical bills and treatment cost
  • Medications
  • Mental health treatment
  • Property damages
  • Lost wages from an inability to work during treatment
  • Future medical costs for ongoing treatment of permanent impairment
  • Lost wages for loss of capacity to perform work tasks

Include the non-economic damages you suffered as well. Any impact of the accident should be compensated:

  • Pain and suffering
  • Emotional distress
  • Loss of consortium
  • Loss of companionship
  • Mental anguish
  • Loss of quality of life

You should receive as much money as necessary to cover the impact on your life. Non-economic damages can be even more impactful than economic damages. You need to include them accurately so that you can get the most money for your settlement.

A demand letter is the first and best opportunity you have to show the insurance company that you understand the full impact of the accident, know what compensation you are entitled to, and prove that you are serious about the amount you are requesting. Be patient and persistent to show the insurance that you won’t back down. Include everything that shows what happened and the results of the accident, and do your best to leave them little room to object. This is your opportunity to set the stage for what is fair and reasonable.

Once this has been calculated, send your demand letter to the other party’s insurance company. For the best results, include information on the severity of the injury, the long-term consequences, and the determination of fault. Your summary of the events and evidence shows why you deserve the most money for your car accident settlement.

Effective Strategies for Increasing Settlement Values

The evidence supporting your claim adds credibility, increasing the value of your settlement. The insurance company will try to offer you a claim that is in their best interest but not always yours. They will employ certain tactics to try to get you to settle for less, but when you know what to expect and how to counter them, then you will be able to get a better settlement. There are other strategies you can use to help increase your compensation as well.

Asking for More Than You Want

The saying “the best defense is a good offense” is appropriate when considering an insurance company’s tactics. The insurance company will do anything to get you to accept less money than what’s appropriate. Going into the process with an exemplary demand letter will help you counter their tactics and allow you to get what you deserve in compensation. Here are some examples of the tactics and ways you can stop them.

Lowball Offers

This is when insurance offers significantly less money to see if you will take it due to the mounting expenses you have to pay. You need to remain steadfast and be patient. You should have a number for the amount of money you find acceptable when you write your demand letter. Deciding ahead of time will help you better know your goals and remain unswayed by lowball offers.

Downplaying Injuries

By claiming your injuries are less severe than you claim or that there was a pre-existing condition, the insurance company hopes to pay a lesser amount in a settlement. This is where a great demand letter is important. It must include all the documentation that proves the claim and any that shows that there were no pre-existing injuries. Get more than one medical opinion if you need to further reduce doubt, and follow your treatment plan to shut down this tactic.

Giving Expiration Dates

Creating urgency and forcing you to accept a less-than-ideal offer relies on the insurance using fear to get you to give in and accept their offer. The thing is, the company is required by law to pay you when the driver they were covering causes the accident. Don’t let them scare you into accepting. Even if they do this, simply refuse and refer back to your demand letter and how it outlines the facts and presents evidence as the key to your denial.
Don’t let them intimidate you, and never accept the first offer. Key things to remember are having a settlement amount that you will accept before you send the letter, including the proper evidence and remaining patient, which are all strategies you can use to counter the insurance company. You can also seek out additional expert medical assessments or prove the pain and suffering you have endured due to the accident and its consequences. These are all things to put into a demand letter outlining the basis of your claim, so make sure to take the time to write it well and be thorough! Also, don’t be afraid to seek the help of a legal professional if you feel lost or overwhelmed by the process.

The Role of Legal Assistance in Maximizing Your Claim

Although you may be able to negotiate with insurance on your own, the help of a lawyer can be invaluable to increase the amount of money you get for a car accident settlement. When you have a complex case or find the negotiation process difficult, an attorney has skills that can help. They understand

  • Negotiating with insurance
  • How to investigate your case
  • Litigation
  • How to avoid mistakes

A lawyer can also challenge the insurance with a confidence that only comes with experience.

Every case is unique, so hiring an attorney is your decision. You could also speak to an attorney to understand how reasonable your demands are or for some additional insights into the process. Many lawyers offer a free consultation, giving you some advice about your claim. A consultation can teach you how to increase your car accident settlement amount at no extra cost.

If you do decide to hire an attorney, most work on contingency. A lawyer will ask for no money upfront and instead agree to receive a portion of the settlement, which can increase the value of your settlement.

Negotiation, Review, and Finalizing Your Settlement

Whether or not an attorney is by your side, negotiations with the insurance company are necessary to reach a settlement both sides can agree on. Knowing insurance adjusters’ tactics helps, but you also need to know how to counter them.

Countering Insurance

As a victim in a car accident, the insurance must pay you, so know the amount you think is reasonable and don’t give in. If and when you do make counteroffers, do so with factual evidence to back up your claims for a larger settlement. Ask the insurance company why they denied you so you can use that to highlight the evidence that refutes their reasoning. You may have to take the matter to trial, which is a good time to have an attorney by your side, but mostly, these matters are settled out of court.

Accepting an Offer

You should only accept an offer once you have thought it through and find it fair and reasonable. Once you accept an offer, that’s it. You can not take the matter any further and will have no chance to increase the settlement value for your car accident claim. You should ensure that the amount satisfactorily compensates you for all current and future costs caused by the car accident.

Consider whether you could get more at trial, the implications of the settlement amount, and whether you feel comfortable with your settlement. Showing the insurer you are willing to pursue the matter to the fullest extent will help you get the most money for your auto accident claim. Insurance companies can be intimidating, but when you have the evidence on your side, you have the best chance to get the most money for your car accident claim.

Empowerment Through Knowledge

Knowing how to get more money for your car accident settlement can be complicated, but it isn’t impossible. Understanding the negotiation process, knowing the steps to take, and having the supporting evidence allow you to feel confident about increasing the amount of your settlement. Don’t let the process discourage you; you can increase the settlement value of your car accident settlement claim and get the money you deserve.