April 28, 2022
Tags: Oil Rig Accident Lawyer
One of the first questions that new clients ask us is how much they would be able to recover for their bicycle accident injury. This is a question that we will be able to give you a more exact response to after learning much more about your case. What we can do right now is explain the factors that help determine how much you receive.
No two injuries are the same in a bicycle accident case, even when two people suffer very similar harms. A badly broken leg can have a completely different effect, depending on the individual accident victim. One person can be a healthy 25-year old who has a physical job. They may suffer more damages than a retired person on a fixed income because this accident victim cannot earn the money that they need to support themselves. A competitive runner who jogs every day may be more affected by a severe injury than one who does not have as active of a lifestyle.
Having said that, we can explain how your bicycle accident claim is valued. Your claim is about far more than just your medical bills. Not only are you entitled to be paid for the economic damages that come out of your pocket, but the defendant also must compensate you for the experience that you have gone through from the accident. Since there are many pieces of your bicycle accident damages, these claims can be difficult to value. The challenge is even greater in a serious bicycle accident, when you are deserving of a check well into the six figures.
For economic damages, these are your actual losses from the bicycle accident. You may need to pay out money for your share of health care costs. These can add up quickly after an accident, as you have copayments for hospitalizations and medication. The other major part of economic damages is payment for not being able to work. If you miss time from your job or cannot do the same work that you did before your injury, that will be a part of your settlement.
Next, the defendant must also pay you for your post-accident ordeal. This is what is known as non-economic damages because it is more difficult to place a direct dollar value on them. Every accident victim suffers differently from their injuries. One may be anxious, depressed and unable to sleep at night. Another may have suffered severe emotional distress. These are all part of your damages because you would never have experienced these emotions had it not been for your bicycle accident.
Non-economic damages are not easy to value because they are subjective in nature. The insurance company does not know what you have gone through, and chances are that they do not care. They are just looking to slap as low of a number of these as possible to settle the claim for less. Your claim may be worth more to you if you have an experienced lawyer telling your story and fighting on your side.
The insurance company will use a multiplier of your medical bills to value pain and suffering. They will attach a higher multiplier to more serious injuries. However, this does not usually do justice for your particular experience. If they can take any shortcut to avoid paying you what you are legally entitled to, they will gladly do it. Your pain and suffering are unique to you and your experience. This is why you will need to be prepared to reject a low settlement offer that does not fairly compensate you.
The value of your case and what you may receive as a settlement can often be two different things. If you do not have an experienced attorney or do not have the resolve to take on the insurance company, this gap will grow even wider. Just because you have suffered a certain amount of damages does not mean that the insurance company will want to pay you for them. In other words, the value of your case can be irrelevant if you are not able to fight for what you deserve.
You can count on the fact that the insurance company knows the exact answer to the question about your case’s value. This is what they do all day, every day. They see thousands of accidents each month, and they have adjusters and sophisticated programs that can quickly place a dollar value on your case. However, they would never share that information with you because that is the advantage that they have. They are counting on slipping a low settlement offer by you when you do not know how much money you deserve.
You need to equalize this advantage with a lawyer who also knows the value of bicycle accident cases. You can rest assured that we will learn the facts of your case well and arrive at a value of your case that we will use when we negotiate a possible settlement. While the ultimate decision on whether to settle is your, we will fight for you when it is necessary. If the insurance company will not make a reasonable settlement offer, we are prepared to litigate in court to get the money to which you are legally entitled when someone else’s negligence has injured you.
The attorneys at Egenberg Trial Lawyers know how to stand up to the insurance company on behalf of our clients when they seek to lower their recovery. We will not let this stand. Insurance companies know us and take us seriously when they see us on the other side. Let us fight for you to get the money that you deserve. Call us today at (504) 229-5700 or contact us online to schedule your free initial consultation.