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Insurance Companies Evaluating Your Losses | Fort Lauderdale Personal Injury

Todd Romano | 406 Views | 08/02/2016

Insurance Companies Evaluating Your Losses

Insurance companies will evaluate your losses based on your economic and what we call your noneconomic damages. Your economic damages; what are your medical bills from the date of the crash up until the time of the trial or until the time of the settlement conference and what are your medical bills in the future that a doctor can determine are reasonably related to the crash itself. Also, what are your economic losses for missing work or your wage loss. Have you lost work as a result of this crash in the past, will you lose work in the future? So that’s the economic component that the insurance company will assess.

Aside from that is the noneconomic or the human damages element; what is the pain and suffering that you have experienced in the past and into the future related to a crash. What is your mental anguish, your loss of enjoyment of life? And while those damages are not as easily quantifiable as your economic damages, the insurance company will try to place a value on all of those damages together and that will determine what kind of money they may be willing to offer you to settle a case.

Insurance Companies Evaluating Your Losses | Fort Lauderdale Personal Injury

Insurance Companies Evaluating Your Losses

Insurance companies will evaluate your losses based on your economic and what we call your noneconomic damages. Your economic damages; what are your medical bills from the date of the crash up until the time of the trial or until the time of the settlement conference and what are your medical bills in the future that a doctor can determine are reasonably related to the crash itself. Also, what are your economic losses for missing work or your wage loss. Have you lost work as a result of this crash in the past, will you lose work in the future? So that’s the economic component that the insurance company will assess.

Aside from that is the noneconomic or the human damages element; what is the pain and suffering that you have experienced in the past and into the future related to a crash. What is your mental anguish, your loss of enjoyment of life? And while those damages are not as easily quantifiable as your economic damages, the insurance company will try to place a value on all of those damages together and that will determine what kind of money they may be willing to offer you to settle a case.