How Car Accident Settlements Are Calculated in Missouri

A car accident can result in catastrophic injuries, adversely impacting the victim's quality of life. While personal injury law allows affected parties to file a claim or lawsuit to seek compensation, obtaining damages can be far from challenging.

Insurance companies often create obstacles to minimize or deny payouts, making it essential for injured victims to understand how to calculate the value of their cases. This knowledge enables them to negotiate more effectively and make a strong counteroffer.

Dealing with insurers can be a major headache. Fortunately, Powell Law Firm has helped thousands of injured victims by holding liable parties accountable and recovering millions of dollars in compensation. We have the expertise, skills, and resources to accurately assess the value of car accident claims and guide clients toward the best possible legal options.

Those who have suffered injuries in a motor vehicle crash in St. Louis, Missouri, should call us to discuss their case and accurately assess its value to ensure a fair settlement. We can also share insight on how personal injury settlements are calculated in Missouri.

How Car Accident Settlements Are Calculated in Missouri

There are several factors that insurance companies take into consideration when assessing Missouri car accident settlements, some of which include the following:

The Severity of the Injuries

Most car accidents result in minor injuries, which don't require much medical intervention. However, that doesn't mean the victim shouldn't seek damages, as they may experience emotional distress from the traumatic incident. That said, the amount they recover may not be substantial or worth pursuing.

On the other hand, if a car accident results in catastrophic or life-changing injuries, it can lead to a wide range of damages, such as huge medical expenses, lost wages, and pain and suffering. This can significantly increase the value of their claim or lawsuit.

The purpose of providing compensation is to make the victim "whole" again. A person suffering from spinal cord injuries may experience greater medical bills, allowing them to make a substantial financial recovery than an individual with a broken wrist or finger. However, proving such damages can be more complex than one can imagine.

Fortunately, injured victims can work with a resourceful personal injury lawyer, as they can bring skilled medical professionals on board to assess the plaintiff's health and provide expert testimony. This can significantly bolster the value of the car accident claim or lawsuit. For more information, a St Louis car accident attorney may be able to help.

Lost Wages

A Missouri car accident claim allows injured victims to recover lost wages if their injuries prevent them from going to work. In some cases, a motor vehicle crash may lead to permanent injuries, making it impossible for the plaintiff to resume employment. When that happens, affected parties can also seek loss of earning capacity and future earnings.

The number of days an injured victim skips work due to their injuries directly affects the car accident settlement in Missouri. This is why affected parties must work closely with an experienced personal injury attorney to accurately determine lost wages.

Insurance Coverage Limits

In Missouri, drivers are legally required to carry a minimum insurance coverage of $25,000 per person and $50,000 per accident for bodily injury.

In addition to that, the Missouri Uninsured Motorist Statute requires motorists to maintain an uninsured motorist coverage. This information is essential for injured victims to understand, as it can help them determine the maximum amount they can seek when filing claims or lawsuits against the relevant insurance companies.

If the negligent party holds the bare minimum insurance coverages and the accident results in far greater damages, the affected individual may not be able to become "whole" again.

The Degree of Fault

Missouri is a fault-based state and follows the pure comparative fault rule. When a car accident occurs in the state, injured victims may be able to recover economic and non-economic damages even if they're partially liable. However, the amount they receive will depend on the affected party's degree of fault.

Here's an example to help illustrate how pure comparative fault rule works:

John runs a red light and crashes into Betty, who is speeding but has the right of way. The accident resulted in $100,000 in damages. However, John's insurance company argues that the plaintiff was partially liable, as they were going over the speed limit.

Both parties decide to settle and agree that Betty is 40% responsible for the car accident, as the traumatic incident wouldn't have occurred if she was driving slowly.

Betty will receive compensation in the abovementioned example, as she's 40% liable for the damages caused. Under the pure comparative fault rule, she can only get $60,000 even if she's incurred $100,000 in medical expenses.

What Is the Typical Car Accident Settlement in Missouri?

Most car accident settlements take place outside of the court. This means that the payouts are confidential, making it difficult to calculate an average.

Even if the average car accident settlement data were available, it wouldn't necessarily indicate what to expect when pursuing a claim or lawsuit. This is because every case is unique, with specific damages that may not apply to others.

An experienced personal injury lawyer knows the factors affecting car accident settlements and can assess the value of a case by evaluating the different elements and drawing on past case studies. They can also assist with explaining how truck accident settlements are calculated in Missouri.

What Are the Steps Involved in Securing Maximum Car Accident Settlement in Missouri?

The steps an injured victim takes right after a motor vehicle crash can make or break their claim or lawsuit. Affected parties must act immediately to secure their chances of making a car accident settlement.

Here are the steps that injured victims should follow after suffering injuries from a tragic motor vehicle crash:

• Move away from the road and call emergency services for help.

• Take pictures of the damaged vehicles, injuries, and nearby road signs to document the accident.

• Exchange contact information and insurance details with the other parties involved.

• Go to the hospital for a full medical evaluation.

• Follow the doctor's treatment plan and keep records of all medical bills and out-of-pocket expenses.

• Consult an experienced personal injury attorney to assess damages, initiate the legal process, and seek fair compensation.

Powell Law Firm and Its Skilled Car Accident Lawyers Are Ready to Help Injured Victims in Missouri!

Negotiating a fair personal injury settlement without legal representation can be extremely difficult. That’s where we come in. At Powell Law Firm, our attorneys understand the tactics insurance companies use and can help you overcome these challenges to ensure justice and recover compensation.

If you've suffered injuries in a car accident in St. Louis, Missouri, call to schedule a free consultation with an experienced personal injury lawyer to fight for your rights and protect your interests.