Personal Injury Lawyer Millburn, New Jersey

How Much Is My Car Accident Worth?

Air bags deployed from a nasty car accident in New Jersey.

A Millburn, NJ, car accident lawyer explains how compensation is often calculated.

One of the most common questions people have after a car accident is, "how much is my car accident worth?"

This might sound like a simple question. But the answer is a lot more complicated than many people might realize. First, anyone involved in a car crash must understand how the compensation system works for injury victims. Otherwise, you might not get the money you deserve and could have to pay for your accident-related expenses out of pocket.

Below, you can learn more about New Jersey's compensation system from the legal team at The Leigh Law Firm, PC in Milburn, NJ. If you were injured in a New Jersey car accident, contact us today to review your legal rights and potential options for compensation.

What is the average settlement amount for a car accident?

Unfortunately, this question misses the point regarding car accident compensation. That's because every car accident is different. For example, two similar rear-end accidents in New Jersey might be worth very different amounts. One might be worth thousands of dollars. Another might be worth a lot more. In short, the answer is "it depends."

So, be skeptical if someone claims they can tell you how much your accident is worth without knowing the specifics of your car crash. Any experienced New Jersey car accident lawyer knows there's no such thing as an average settlement amount that is helpful to injured crash victims.

Who decides how much my car accident is worth?

In many cases, the parties with the most influence in such discussions are the car accident insurance companies for all the vehicles involved in the crash.

This might not seem like a big deal. But it's important to understand that insurance companies are businesses. And in many cases, their primary focus is on keeping costs as low as possible. That's why many insurance adjusters do everything possible to pay injury victims as little as possible—or nothing at all.

Can I ask for more money from the insurance company?

Insurance adjusters often make quick settlement offers soon after accidents. Naturally, you might be tempted to accept the money, especially if your medical bills and other related expenses are starting to pile up. Unfortunately, a lot of insurance company settlement offers aren't close to fair.

Once you accept an insurance company's settlement offer—that's it. Your case is closed, and you can't go back and ask for more money if your costs are more than what you settled for.

Fortunately, you don't have to accept such a lowball settlement offer from an insurance company. Instead, you can – and should – ask for more money.

What car accident expenses can I be compensated for?

You can and should be compensated for all past, present, and future car accident expenses. These can include:

  • All medical care related to your car accident injury.
  • The cost of repairing your vehicle or buying a new car if your vehicle was declared a total loss.
  • Money for any property damaged in the accident.
  • Replacement income if you need to stay home from work to recover from your car accident injury.
  • Lost future income if you cannot return to work due to a permanent disability.
  • Non-economic damages (financial compensation), including money for pain and suffering in certain circumstances.

Should I accept a settlement or file a car accident lawsuit?

Often, car accident injury victims have three choices when it comes to financial compensation for their injury-related expenses:

  • Accept a settlement offer from an insurance company.
  • Ask for more money and negotiate a better settlement offer.
  • File a car accident lawsuit, often against the insurance company responsible for compensating you.

Sometimes, filing a lawsuit is the best way to get the money you deserve. However, every car accident is different. Therefore, you should talk to a lawyer as soon as possible to discuss your legal options.

Injured in a Northern New Jersey car accident? Contact The Leigh Law Firm to find out how much your case might be worth.

No matter what you decide to do after your car crash, an experienced New Jersey car accident lawyer can help you. Whether negotiating with insurance companies or fighting for your rights in court, your attorney can ensure your rights are respected.

At The Leigh Law Firm, PC, you can be confident that we will do everything possible to build the strongest possible legal case on your behalf and fight for the compensation you're entitled to under the law.

Contact us to learn more about your legal rights. We're conveniently located in Millburn, New Jersey, and we handle legal cases throughout the state. In addition, you pay no fees unless we win your case. That's because we work on a contingency fee basis. Call today to learn more.

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