Video Transcript:

When it comes to auto accident settlements, various factors come into play in determining the compensation amount. In this video, we’ll tell you what the top 10 factors influencing auto accident settlement amounts are.

Number 1. Legal Representation.

Numerous studies show that settlements reached with an attorney are substantially higher than those reached without. This is because insurance companies use tactics to pay you out as little as possible and don’t take unrepresented accident victims seriously.

Number 2. Severity of Injuries.

One of the most crucial factors influencing the settlement amount is the severity of the injuries sustained in the accident. Typically, the more serious the injury is, the higher the compensation. 

Number 3. Medical Expenses.

Closely tied to the severity of injuries are the associated medical expenses. This includes past as well as future medical bills. The costs of medical care can quickly accumulate, significantly impacting the settlement amount.

Number 4. Lost Wages and Earning Potential.

Injuries sustained in an accident can often prevent car accident victims from returning to work for an extended period or, in severe cases, permanently. The resulting loss of income and earning potential is a critical factor in determining the settlement value.

Number 5. Vehicle Damage.

Typically, the more extensive the damage to the vehicles involved in the crash, the larger the settlement. This is because insurance companies know that jurors are more likely to believe that you were injured to the extent you are claiming when the vehicles are badly damaged.

Number 6. Liability and Negligence.

If you are completely at fault, you will most likely not receive any compensation. If you are partly at fault for the accident, or fault is very unclear, your settlement amount will most likely be significantly less than if liability was clearly on the other party.

Number 7. Insurance Coverage.

Liability insurance policy limits can vary widely from the California required minimum of $15,000 to millions. The policy limits of available insurance coverage typically limits the amount you are able to recover.

Number 8. Strength of Your Evidence.

The more photographs, videos, witness statements, and documents you have to prove liability and the extent of your damages caused by the collision, the more valuable your case is likely to be and the quicker it is likely to settle. 

Number 9. Your Medical History.

If you have had prior issues with the same body parts you claim to have been injured in the accident, your settlement will likely be for less than if you haven’t. This is because the insurance company and its attorney will argue that preexisting conditions, rather than the collision, are the cause of your symptoms.

Number 10. How Likeable You Are.

Believe it or not, coming across as friendly and sincere can boost the value of your accident claim. This is because insurance adjusters make judgments about how you will appear to jurors should your case go to trial.

Thank you for watching, and remember, this video is for informational purposes only, and is not to be taken as legal advice.