If you were involved in a car accident in Tennessee, you might be wondering how much money you can recover for your losses. Below, The Terry Law Firm discusses the factors that affect car accident settlements and the steps you can take – or should avoid – to get the most out of your claim.
What Affects Car Accident Settlement Amounts?
Your car accident settlement may vary based on:
- The other party’s actions – You are more likely to obtain full compensation for your losses if the other party was largely or entirely at fault.
- The extent of your pain and suffering – Well-documented pain, suffering, and physical limitations can net you more money for your subjective, personal losses.
- The type and severity of your injury – You are more likely to obtain greater compensation for more severe injuries with long-term or permanent effects.
- Your age and overall health – Younger, healthier victims often receive more money for their long-term losses, which may impact their future earning potential. In contrast, older persons or those with pre-existing conditions may receive less.
- The value of your lost wages – The more time you miss at work during your recovery, the more compensation you could receive for lost wages.
- The value of your damaged property – You will need to consider the cost of replacing or repairing your vehicle and any other property damaged in the accident.
Ways to Maximize Your Settlement After an Accident
You can protect your rights and maximize your settlement value after a Tennessee car accident by:
- Seeking prompt medical care and following your doctor’s orders to create a record of your condition and show that you are taking your health seriously.
- Gathering evidence from the crash scene, such as photos, driver and insurance information, police accident reports, and witness statements.
- Hanging on to documents related to the accident, such as medical bills, car repair invoices, and pay stubs showing missed time at work.
- Contacting a car accident lawyer for a free consultation to learn more about your legal rights and the potential value of your claim.
What Should You Avoid While Negotiating a Car Accident Settlement?
You can avoid harming your car accident case and reducing your potential settlement if you:
- Don’t talk to the insurance company or provide a written or recorded statement that locks you into an unfavorable story.
- Don’t post information about the accident on social media, share photos of yourself, or accept strange friend requests while your case is pending. Any information you post online could potentially be used against your case.
- Don’t accept the first settlement offer you receive, which is more likely to be a lowball settlement designed to tempt you while you are in a desperate situation.
What If I Am Partially at Fault for the Wreck?
If you were less than 50 percent responsible for the crash, you can still pursue compensation. However, the amount you could receive may be reduced based on your proportion of fault. For example, if you are awarded $10,000 in compensation but you were 25 percent at fault, the most you can recover is 75 percent of the compensation, or $7,500. If you are 50 percent or more at fault, you are legally barred from recovering any compensation.
Get Help from The Terry Law Firm Now
The dedicated lawyers at The Terry Law Firm want to help you pursue a full and fair settlement for your injuries and other losses after a Tennessee car accident. Contact us today to learn more about your rights and legal options in a free initial case review.
