How Do Insurance Companies Determine the Value of a New Jersey Personal Injury Claim?

Very often, there is a significant discrepancy in what an injured victim of a New Jersey car accident may request from an insurance company and what an insurance company may offer the victim. If you have been injured in a car crash in New Jersey, it may be in your best interest to have a basic understanding of how insurance companies will determine the value of your personal injury claim.

First, an insurance company will look at the financial losses that were suffered in the accident. They will typically add together the medical bills incurred as a result of the accident as well as the amount of wages the victim may have lost during the recovery process. These types of losses are typically easy to calculate because they are quantifiable and relatively straightforward.

The complicated part of determining the value of an injury claim involves non-economic damages and future expenses. Non-economic damages could include anything from the physical pain and suffering as a result of the accident to emotional distress. Future losses may include repeat visits to the hospital and physical therapy expenses. Every insurer works differently and each case is unique. It takes a skilled Princeton car collision attorney to guide injured victims through what can be a complex process in order for them to receive the full compensation they need.

The experienced lawyers at Lependorf & Silverstein help injured victims receive fair compensation for all the injuries, damages, and losses they have sustained in an accident caused by another’s negligence. To discuss the potential value of your claim at no-cost, please call our offices at 609-240-0040 today.