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How Much Is My Car Accident Claim Worth?

February 23, 2022 by Michael Waks

car crash

Assigning a dollar amount to a car accident claim is riddled with challenges. Not only are legal proceedings inherently unpredictable, but there are also a dozen or so variables that can influence the value of any given claim. As if that weren’t complicated enough, each party will undoubtedly apply their own unique formula when it comes time to quantify the non-economic damages.   

Despite these issues, though, the parties involved are more likely than not to come to an agreement. Most valid car accident claims are settled because neither the victim nor the insurer wants to deal with the hassle of going to court. As such, they’re usually inclined to cooperate during the negotiations and ultimately meet in the middle. 

As for determining a starting point for these negotiations, your car accident lawyer will evaluate a number of factors and then gather the evidence needed to justify the calculations they apply. Such factors include:

1. The Role You Played in the Wreck 

Under California’s pure comparative fault rule, the plaintiff’s own negligence will offset the defendant’s liability. Put another way, if you’re deemed 25 percent responsible for the collision, you can only pursue compensation for 75 percent of the damages you incur, because that’s the portion for which the other party is liable. 

2. The Severity of Your Injuries 

More severe injuries inevitably result in more extensive losses and, consequently, warrant more compensation. If you suffer a permanent disability, for example, and you’re unable to return to the workforce, your legal team will include lost earning capacity in the settlement negotiations. Depending on your anticipated career trajectory prior to the crash, such losses could easily amount to six- or even seven-figures. 

More severe injuries also cost more to stabilize and rehabilitate. Those who sustain damage to their brain or spinal cord, for example, often need ongoing physical therapy and home care. 

3. The Total Available Insurance Coverage 

It’s an unfortunate reality, but the liable party’s total available insurance coverage could limit the amount of compensation you’re able to recover. This is why it’s imperative that you identify everyone who contributed to the collision. Their total available combined coverage will hopefully be enough to make up for the losses you incur. 

In California, each individual motorist driving a private passenger vehicle is required to carry at least the following in liability insurance: 

  • $5,000 in property damage,
  • $15,000 in bodily injury per person, and
  • $30,000 in bodily injury per accident. 

Speak with a Long Beach Car Accident Lawyer 
Your Injuries Are Personal to Me 

Are you recovering from serious injuries that you sustained in a wreck someone else caused? For help holding the at-fault party accountable, turn to the Law Office of Michael D. Waks. 

A compassionate personal injury lawyer, Michael D. Waks is well-versed in motor-vehicle collisions. Call (562) 206-1939 or fill out the Contact Form on our website to set up a free, no obligation consultation with a car accident attorney in Long Beach. 

Download Our Car Accident Emergency Response .PDF

The scene of a wreck is always chaotic. To ensure you record the details needed to put together a strong claim later, refer to our comprehensive checklist. Download it HERE for free, and print a copy for your glovebox, so you always have it on hand.

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Michael Waks
Michael Waks
Michael Waks is an aggressive advocate for people who have suffered because of someone else’s actions. Michael decided to become a personal injury lawyer when, while clerking at a legal defense firm during law school, he witnessed and was infuriated by asbestos manufacturers spending millions to avoid taking responsibility for the egregious injuries they caused. Immediately after passing the bar, Michael opened his own firm in Long Beach, CA to help the victims of personal injury accidents get every benefit owed them under the law.
Michael Waks
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Michael represented me in a personal injury case and I can’t recommend him enough. From the very first consultation he made sure that I was always aware of my options and up to speed with every aspect of my case. He answered all my questions and used his experience and expertise to help guide my decisions instead of trying to make them all for me. He not only ensured that the settlement I received was more than enough to cover all my bills and expenses but he also made sure I had piece of mind and would be taken care of going forward.

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Michael Waks is The attorney you want to resolve your accident issues, period. He is knowledgeable, efficient, and gets maximum results when you are injured.

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