What Is My Claim Worth?

You’ve been in a car accident. Now what? After filing police and accident reports, you may wonder, “What is my claim worth?” This is a valid question, especially if you’re looking to avoid a lawsuit with your insurance company. You want fair compensation for your vehicle, however you may not understand how car crash claim value works or the many insurance adjuster valuation factors.

Kerr Law is here to help. As your personal injury attorney in Orange County, we go to bat for you against your insurance company to get you the highest compensation possible for your claim. If the collision was not your fault, you don’t deserve a fight with your insurance company. And if it was your fault, you may still be entitled to something.

Start by educating yourself. Here are just a few of the factors that your insurance company uses when determining the worth of a claim.

Liability. The first thing your insurance company will consider when determining car crash claim value is who is at fault and to what extent. If the accident was due to your negligence, it’s more vital than ever to follow our tips on what to do after an accident <link to post>. And if you were directly disobeying the law (talking on your cell phone, making an illegal turn, etc.), chances are that your claim will be defeated or greatly reduced.

If the accident was due to the other driver’s negligence, carefully document what happened, take photographs and contact your personal injury attorney as soon as possible.

Extent of Damages. Most insurance companies use a software system to calculate the settlement value of a car accident. Insurance adjuster valuation factors include the cost of medical bills, lost income and pain and suffering, as well as the damages to your vehicle. If the claim only includes damages to your car, the claim value will often simply cover the repair cost or replacement of the vehicle. Keep in mind that the car crash claim value is based on depreciated value, so you will not recoup full value of the car.

If you or someone in your vehicle was injured, you will likely have to negotiate a settlement, especially if pain and suffering is involved. It can be difficult to calculate a monetary value for loss of mobility or future medical treatments. Insurance companies use a variety of formulas, such as the Baldyga Auto Accident Settlement Evaluation, to calculate things like lost future earning capacity.

In the end, it’s vital that you contact your personal injury attorney in Orange County as soon as possible if you’re involved in an accident. Don’t guess what your claim is worth; let your attorney assist with your car crash claim value so you can avoid any insurance company lawsuits.