Settlement Amounts For Car Accident Injuries

Settlement Amounts For Car Accident Injuries – The absolute biggest misconception about a car accident (at least in Michigan) is that there is a bag of money waiting for you after the accident. That is simply not true. Michigan law does not allow compensation for your “pain and suffering” as a result of an accident. Michigan motor vehicle accident laws are designed exclusively to help you get healthy and become a productive member of society. There is no pot of gold on the other side of the highway.

The no-fault law was passed by the Michigan legislature in 1973 to essentially get rid of tort liability and auto accident lawsuits. Before no-fault law was passed, courts and the legislature grumbled about too many lawsuits resulting from car accidents. There was also dissatisfaction among hospitals and health care providers, as their medical bills related to the accident were often not paid.

Settlement Amounts For Car Accident Injuries

One big reason was that under the old tort system, the insurance company didn’t have to pay for health insurance unless the injured person could prove that someone else was at fault for the accident. This automatically excluded half of the people injured in car accidents (those who were at fault or in single-vehicle accidents) from getting health insurance through an insurance company. These people would have to seek coverage through their health insurance companies. In 1973, many Michiganders did not have health insurance for outpatient care. This left many people unable to get medical care. This has also left many health care providers without payment for their services.

Michigan Car Accident Settlements

To address these issues, the Michigan Legislature passed the Michigan No-Fault Act (MCL 500.3100 et seq.). The No-Fault Act was designed with the following goals:

But what no-fault law SHOULD NOT have done was allow compensation for “pain and suffering” as a result of an accident. No-fault law was not, and still is not, designed to compensate most accident victims. There is an exception if your injuries are extremely serious, i.e. j. if you have suffered “serious impairment of body function” or “permanent serious disfigurement”.

Now that you understand what No-Fault insurance is and what it’s supposed to cover, the infographic example above might make a little more sense. Even so, you’re probably still a little confused about how a client ends up with $15,000 in a $100,000 settlement. Let’s take a closer look at our example with some added information:

So now we have a $100,000 settlement… but you have to pay $150,000 in claims. You must also pay a one-third attorney fee and $1,000 in costs (filing, filing and facilitation fees). How does it work?

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First, the cost must come from the top of the settlement. So we start by subtracting $1,000 from the $100,000 settlement, leaving us with $99,000. A one-third contingency fee ($33,000) must then be deducted. That leaves us with $66,000. From that we have to pay the health care providers. They agreed to 56% of what they invoiced, a total of $51,000. Subtracting $51,000 from the $66,000 we had left $15,000 for substitute services, nursing care, and wages owed.

The remaining $15,000 is yours. You can use it to pay care providers or do whatever you want with the money. That’s entirely up to you.

You must be thinking that this division of the settlement is not fair. It is not fair that you only received $15,000 when you had $60,000 in lost wages, replacement services and nursing care. It’s not fair that the doctors got $51,000 when you only got $15,000. That the lawyers got $33,000 when you only got $15,000. After all, you were the one injured, not the doctors and lawyers.

There is certainly some merit to your frustration. You have every right to be upset that you spent over a year of pain, anxiety, and hardship for only $15,000. However, getting $15,000 in this situation is very fair indeed. Here’s why:

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First, this case started with a lawsuit for an important reason – the insurance company did not want to pay anything. The fact that you were able to get the insurance company to go from $0.00 to $100,000 is a big win. Second, remind yourself from above that no-fault law was designed to restore your health, not to compensate you. The settlement achieves this.

Third, yes, the doctors got paid more than you. However, you also received significant services from them. Medical care is not cheap and they were willing to accept a discounted rate and treat you for months without paying. You basically have medical treatment for sale. After all, even your lawyer got more than you. As with doctors, you have also received significant services from a lawyer. In fact, if it weren’t for the lawyer, you wouldn’t see a dime. A one-third contingency fee is standard for personal injury attorneys, and it’s money well spent to get a reasonable result.

It can be shocking and seemingly unfair to learn that you are only receiving a fraction of your PIP settlement. However, when determining whether a settlement is reasonable – whether it is “good” – you need to consider what PIP cases are for. They are meant to pay your medical bills, pay you lost wages, and give your helpers at home some money for their efforts. If the insurance company has a strong defense (even if they’re wrong) and you’re still able to get a significant portion of your PIP damages paid out, you’ve reached a reasonable settlement.

In other words, measure the success of a PIP case by whether you get back to your pre-accident life, not by how much money you get. Looking at money will only disappoint you.

Delaware Car Accident Lawsuits And Settlements — Lawsuit Information Center

Copyright 2022 Seva Law Firm Detroit Car Accident Lawyers The information on this website is not legal advice for any particular case or circumstance. It is intended for informational purposes only. Use of this website does not establish an attorney-client relationship. Every car accident claim is different, but if you want to know what yours is worth, it helps to understand how the value of the damage is calculated. “Value” in this sense simply means the total dollar value you’re likely to walk away with. Let’s look at the different methods lawyers and insurance companies use to come up with a dollar figure, and then apply those methods to some specific examples.

As a general rule, injuries that “seem” more serious will be given more weight because juries tend to be more responsive to those types of injuries. Even if the case never goes to trial, both sides consider how a jury would react, because if nothing could be resolved in negotiations, the final decision would be the jury. This means that your injury may result in a higher settlement if:

Additionally, the two parties will differ in how they estimate the dollar cost of your injury. Both will look at your actual medical costs plus “pain and suffering,” but your attorney and insurance company will use different methods to calculate the final number.

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Your attorney will calculate the cost of your injury based in part on how it has affected your life. This can include a number of factors, such as whether the injury is interfering with your normal day-to-day life, whether you will continue to have pain in the future, whether it will affect your ability to work and whether you are experiencing any emotional distress. with your injury.

The insurance company, on the other hand, will likely calculate the value of your settlement based on an algorithm. They enter the type of injury you have and the various factors involved and have the computer provide a number based on other similar cases.

Not surprisingly, the insurance company’s number is often much lower than your lawyer’s number. This is why negotiation makes such a big difference in a car accident and why an experienced attorney can make such a big difference in how much you end up winning.

Given the formulas above, we can give a general range of how much some common car accident injuries in Georgia can win:

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The more serious your injury, the more the answer depends on whether your claim is handled by an expert. For a very minor injury, the difference may be as little as $3,000 or so to a lawyer; for broken bones or disability, a lawyer could help you recover tens of thousands more than you would have recovered on your own.

If you want to file a claim for damages after sustaining injuries in a car accident, call the Atlanta attorneys at John Foy & Associates who are ready to help. Just fill it out

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