Determining the Value of Accident Claims

When you’re involved in an auto accident, determining the value of your claim is essential to ensuring you receive the compensation you deserve. However, this process isn’t always straightforward. Insurance companies use a complex system of calculations to decide what they believe is a fair settlement, factoring in medical expenses, lost wages, pain and suffering, and liability.

One of the reasons why hiring a car accident attorney in Phoenix is so important is that these calculations are often difficult to navigate. Insurance companies have their own way of determining value, and it’s not always in your favor. The team at Gage Mathers can help you understand auto policy coverage limits in Phoenix, ensuring you receive the maximum compensation available.

Factors That Affect Claim Value

Several factors influence the overall value of your claim. Understanding these factors is key to knowing what you’re entitled to. These elements are divided into economic and non-economic damages, as well as liability.

Economic Damages

Economic damages are the most tangible and easily measurable costs associated with an accident. They are the expenses you can document with receipts and bills. The most common economic damages include:

• Medical expenses: This includes the cost of ambulance rides, hospital visits, surgeries, physical therapy, and any future medical care related to your injuries.
• Property damage: The damage to your vehicle, personal items, and property will be considered when calculating your claim’s value.
• Lost wages: If you are unable to work due to your injuries, your lost wages become part of the calculation. This can include both current lost wages and any future earning capacity impacted by long-term injuries.

Non-Economic Damages

Non-economic damages are more subjective and harder to quantify. These damages don’t have a set dollar amount but are just as important when calculating the value of a claim. Some of the common non-economic damages include:

• Physical pain and suffering: This refers to the physical pain and discomfort caused by your injuries, as well as any long-term effects they may have on your daily life.
• Emotional distress: The emotional toll of an accident can include anxiety, depression, and PTSD. These psychological impacts are also taken into account when determining claim value.
• Loss of enjoyment of life: If your injuries prevent you from participating in activities or hobbies that you once enjoyed, this can increase the value of your claim.

Liability

Who is at fault for the accident plays a huge role in determining the value of your claim. Arizona follows comparative negligence laws, which means that even if you are partially responsible for the accident, you can still recover damages. As long as you’re not 100% at fault, you may be entitled to compensation.

For instance, if you are found to be 30% responsible for the accident, your compensation would be reduced by that percentage. Insurance companies will use liability assessments to determine how much compensation you’re entitled to. Understanding how fault is assigned is crucial to accurately valuing your claim.

Avoiding Delays in Accident Settlements

In addition to understanding the factors that affect claim value, working with a skilled attorney can help reduce delays in accident settlements. Insurance companies often try to stall the settlement process, making it harder to get the compensation you deserve in a timely manner. An experienced lawyer can help ensure all paperwork is properly filed and that you don’t miss important deadlines, speeding up the process.

The Right Value for Your Claim

When you’ve been in an accident, all you should have to focus on is recovering and getting your life back on track, not battling insurance companies or trying to figure out how much your claim is worth. Car accident attorneys in Phoenix, like those at Gage Mathers, have the knowledge and expertise to help you navigate the complex insurance process.

Your attorney will help you understand auto policy coverage limits in Phoenix, review the damages and liabilities involved, and advocate for the compensation you deserve. This can significantly reduce the time it takes to reach a settlement, ensuring you get the compensation you need without unnecessary delays.

About the Author

Joseph D'Aguanno

Guided by the belief that being a highly skilled specialist in a narrow field is better than being ordinary in everything, Joseph “JD” D’Aguanno leads Arizona’s best personal injury law firm in Phoenix, AZ. Having extensive cross-training in pre-litigation negotiations and trial lawyer skills, with decades of experience, JD strives to provide clients with the most valuable legal services a personal injury lawyer can provide. Under his direction, Gage Mathers Law Group is an award-winning personal injury law firm providing aggressive representation to victims of a car accident, medical malpractice, dog bite, motorcycle accident, and other injurious events. Gage Mathers is trusted by thousands of lawyers and clients throughout the country because of their reputation for getting clients the maximum compensation they deserve.

Years of experience: Over 23 years
Bar number: 020421
Location: Phoenix, AZ
JD’s Profile