6 Tips for Determining the Monetary Amount for Motor Vehicle Accident Settlement

6 Tips for Determining the Monetary Amount for Motor Vehicle Accident Settlement

6 Tips To Get The Best Possible Outcome For Motor Vehicle Accident Settlement

After a traffic accident when car repairs have been done and medical treatment is over, you will need to sit down with the insurance adjuster to come up with a motor vehicle accident settlement that will put the entire experience to rest for you.
The adjuster has two jobs:
a. Assess the damage caused by the car accident
b. Negotiate a insurance settlement offer that costs the company as little as possible
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While many adjusters will be fair in their auto insurance settlement, it’s still a good idea to know how settlements are being calculated in order for you to receive the best monetary settlement. And, after you’ve been through a horrific ordeal like the car accident, what you want is a settlement that’s fair for you.

    • When it comes to getting a fair settlement from your auto accident, you need to know what the local laws are about fault and payment. A personal injury lawyer can provide you the details with a free consultation – a standard offering for attorneys.
    • Have your paperwork relating to the replacement or repairing of your vehicle in one place. Come up with the total amount from every source. If the vehicle has been totaled, use the vehicle’s present blue book value. Add the costs that came with getting your vehicle diagnosed as totaled. Be sure you also include expenses that resulted with not being able to use your vehicle – lost work, child care expenses, rental to replace your vehicle, public transportation fees, etc.
    • Get all the medical expenses that you and/or your family incurred because of the motor vehicle accident together, adding them up. Like you did in repairing your car, you need to account for all the expenses that came about because of medical treatment – missed work due to doctors’ appointments, trip mileage, child care costs, etc.
    • Include any additional expenses that occurred because of the car accident – cleanup costs, property damage, damage to items in the car, etc.
    • Add all the expenses associated from the repairs of your vehicle and your body as well as the additional costs. This will be the base cost and the minimum you should take as a car accident settlementt from the insurance adjuster and insurance company.

If Motor Vehicle Accident Wasn’t Your Fault, The Base Should be Doubled.

This gives you a basic target range for pain and suffering payments. There is no set amount to pain and suffering amounts, but it does give you an idea of what you could expect from a insurance settlement offer. Negotiating with the insurance adjuster on the pain and settlement is a given.

  • According to auto body shop Toronto companies, a fair offer for settling an auto insurance claim is between 150 and 300 percent the base cost. If you receive an offer that’s less than that, the insurance adjuster is trying to rip you off. If you’ve gotten a number that’s exceedingly higher, it means you have overlooked something.

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