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What Is a Fair Car Accident Settlement?

Following a severe crash, seeking compensation is a necessary step. You may deal with several hardships following a car accident, so the compensation you might recover can be very beneficial. Unfortunately, the first offer from the insurance company is not always enough to cover what you need.

If you receive a low offer, be sure to speak with a lawyer. A lawyer can advise you whether it’s best to accept a settlement offer or if you can pursue more compensation. Below, we explain what is in a fair settlement offer so that you know what to expect.

Your Economic Losses

A good settlement should consider the amount of money you spent on damages stemming from the crash. For instance, your settlement offer should be enough to pay for lost income if you’re unable to work, property damage repairs, medical bills, and more.

You may have your own healthcare insurance to cover medical bills, but your settlement offer should consider co-pays and the costs of additional and ongoing care.

Your Non-Economic Losses

Settlements can also cover non-economic losses that you encounter following your crash (e.g., your pain and suffering). You can work with a lawyer to show how your injuries have diminished your quality of life. It’s usually more difficult to evaluate non-economic compensation, so working with a lawyer is the most effective way to maximize your compensation.

Mental anguish is a significant challenge, and you need to hold negligence accountable for the damages you have sustained.

Our Alabama car accident lawyers at Morris Haynes Attorneys at Law put your needs first. We work to help you obtain maximum compensation for the damages you endure, building a strong case that prioritizes your best interests. You can have confidence knowing that we will work for you and give you a voice when you need it.

We’re ready to provide you with a free consultation so that you have peace of mind moving forward.

Contact our firm at (205) 973-6915 today.