How Much Is My Motorcycle Accident Claim Worth?

Uncategorized On Thursday, September 30, 2021

If you get injured in a motorcycle accident in Connecticut, you may be entitled to financial compensation from one or more parties. You may be eligible for benefits through your own insurance provider, for example, as well as from the driver who hit you. Unfortunately, it can be difficult to obtain a fair amount from an insurance company after a motorcycle wreck. Learning how much your motorcycle accident claim is worth can allow you to negotiate for the recovery that you deserve.

Every Case Is Unique

Don’t base your case value on what other motorcycle accident victims have recovered for their injuries before you. There is no such thing as an average settlement amount. Multiple factors affect settlement calculations and the final amount received by a motorcycle accident victim. These factors include the seriousness of the injury, how long it will take the victim to reach the point of maximum medical improvement, the amount of medical care required, the victim’s age and previous income level, and more.

Types of Damages Available

Rather than basing the value of your case on a perceived average, start calculating the value of your specific motorcycle accident claim by listing all of the losses and expenses that you have suffered since the accident. These can turn into financial awards that match each type of loss, known as damages. Keep in mind that you could recover financial compensation for both economic (tangible) and noneconomic (intangible) losses. Your list of losses after a motorcycle accident may include:

  • Past and future medical bills
  • Disability costs and accommodations
  • Permanent scarring or disfigurement
  • Lost income and capacity to earn
  • Motorcycle repairs or replacement
  • Other property damage
  • Travel costs
  • Legal and out-of-pocket expenses
  • Pain and suffering
  • Emotional injuries
  • Wrongful death damages
  • Loss of consortium
  • Punitive damages

Don’t forget to include future foreseeable costs and losses, such as the inability to go back to your previous job and earn the same amount that you used to before your accident due to a long-term disability. A motorcycle accident attorney can help you create a comprehensive list of all of your compensable losses to submit to an insurance company as part of your initial demand letter.

How to Calculate the Value of Your Motorcycle Accident Claim

Once you have an idea of the damages available, start calculating the value of your claim by adding up all of your economic losses. You can do this based on the medical bills, collection statements, pay stubs from missed time at work, receipts and other hard numbers associated with your collision. Don’t forget to factor in your future foreseeable economic losses, including ongoing necessary medical care, physical therapy or rehabilitation, and lost future earnings and employment benefits.

Calculating your noneconomic motorcycle accident damages is more difficult, as there is more than one option available for a jury to determine this type of award. A jury can use one or more calculation methods to estimate pain and suffering damages, or no method at all. However, many juries in Connecticut use the Multiplier Method to calculate noneconomic damages. This method multiplies the victim’s economic damage award by a number from one to five that is appropriate based on the severity of the injuries and related pain and suffering.

Don’t Settle for Less Than You Deserve

The injuries and losses that you suffered in a motorcycle accident can be substantial. An insurance company, however, may try to downplay your injuries and devalue your losses to save its investors money. This is why it is important to understand the value of your motorcycle accident claim before you accept an insurance settlement. Once you accept, you cannot go back and ask for more money.

Discuss your case in detail with an attorney for an accurate evaluation of your motorcycle accident case value. You can trust an attorney to provide an honest case review, as your attorney will want to maximize your financial recovery, not minimize it.

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