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Calculating Lafayette Car Accident Settlements

Not every car accident claim in Lafayette needs to go to trial. In many cases, injury victims and defendants are able to reach a fair settlement through negotiations. However, calculating a car accident settlement is often difficult for victims who do not retain an experienced Lafayette attorney.

If you were hurt in a car accident, reach out to a dedicated attorney for help with your case. A lawyer could identify all of your damages and push for fair compensation.

How an Attorney Can Help Calculate a Fair Settlement

Experienced car accident attorneys can help determine the value of a settlement because they are professionals at settling cases. Calculating fair payment is a large part of what they do every day, and they have research tools to gauge the fair settlement ranges. They can also help victims identify the full extent of their losses and pursue compensation for damages an injured person may not be aware of.

An attorney can also help maximize compensation when both the plaintiff and defendant share some liability. Louisiana is a comparative fault state, meaning that victims who are partially at-fault for an accident can have their damage award reduced. For example, if the injured party was 40% at fault in the accident, then their award should be only 60% of their total damages. Insurance companies often use arguments of comparative fault to reduce the amount they have to pay. An auto collision attorney could help prepare for these arguments and work to refute them.

Settling Versus Taking a Case to Trial

When considering a settlement, it is often good for the client to accept a reasonable offer so they can move on with their lives. Trials are stressful, they are expensive, and the results are uncertain. If the insurance company makes a reasonable offer, it is often in the victim’s benefit to accept the settlement.

In some situations, an insurance company may not make a fair settlement offer. In these cases, victims often choose to take a case to trial. Ultimately, this decision is up to the injured party.

How Long Does it Take to Receive a Check?

After the victim and defendant reach a settlement agreement, an insurance company has 30 days to fund the settlement. Usually, it takes less than two months after negotiations for the whole process to be resolved.

A person can ensure they receive their settlement in a timely manner by making sure the settlement agreement is in writing. That starts the clock on the insurance carrier to fund the settlement. If there are any extraneous circumstances, the parties could agree that the settlement should be funded in less than 30 days.

Other Settlement Considerations

When considering their claim, injury victims need to make sure that they disclose all their medical treatment to their lawyer. Medical providers and health insurers often have statutory liens against the settlement proceeds of a case, so it is important for the lawyers to know exactly who needs to be reimbursed. It is the same for Medicare and Medicaid, so all of those issues need to be disclosed to the lawyer so that someone does not come back after the settlement has been processed and look for reimbursement.

Seek Help From a Lafayette Car Accident Attorney

If you were injured in a car accident in Lafayette, reach out to an attorney for help calculating and negotiating a fair settlement value. With skilled legal advocacy, you may be able to obtain fair compensation without the hassle and uncertainty of a trial. Call today to schedule a consultation.