After a car accident, you likely have many questions about the financial compensation you may deserve. Most often, the question is, what does a good settlement offer look like?
In many cases, a good settlement offer may be more than you expect. Personal injury lawyers use many factors to determine what a good settlement offer might be after a serious car accident. Some of those factors will include the nature and extent of your injuries, longevity of your injuries, the inability to work, your life expectancy, change in your lifestyle, and your financial losses such as medical bills and lost income present and future.
Often, the size of the insurance policies will govern the compensation you can recover after being injured in a car accident. A driver that carries minimum liability insurance, for example, may have a policy that offers considerably less protection than a driver who carries a commercial policy that offers greater bodily injury policy limits.
Often, the policy limits of an insurance policy will determine how much compensation you can recover after your accident, including the compensation you can recover for pain and suffering, and excess economic damages and the compensation you can recover for any serious injuries you suffered in the accident.
Usually, auto insurance policies break down into two key components related to injuries: compensation for bodily injuries suffered in an accident and compensation for the financial damage under personal protection insurance benefits. You can maximize the amount of compensation you receive in the bodily injury coverage by making sure you carry your own unlimited medical coverage on your no-fault auto insurance policy because you won’t have to use the bodily injury compensation money you receive from the at-fault-driver to pay medical bills. If you don’t carry unlimited medical coverage, you may have excess medical bills that you will need to pay from your bodily injury settlement.
Furthermore, the at fault drivers auto insurance policy may limit how much compensation everyone injured in an accident can recover.
In Michigan, for example, a driver that carries minimum bodily injury protection insurance may have a policy that provides a maximum of $250,000 in compensation for each individual injured in an accident, and a maximum of $500,000 in protection for everyone injured in an accident. If more than two people suffer injuries in the car accident, those limits may reduce the compensation available to each injured party because there is not enough coverage to go around.
In our opinion too many drivers carry only minimum auto insurance coverage. We recommend the following minimum Michigan no-fault coverage to our clients to provide adequate protection to their families:
Speak to your insurance agent about this minimum no-fault coverages. Don’t gamble with your financial future because it only takes one serious injury accident to spell financial ruin.
In a 100% free consultation, we will take the time to explain all of your insurance rights. If you honor us by becoming our client, we will fight with the insurance company for you, and make sure you are paid all of the no-fault benefits you deserve. We handle auto accident insurance injury claims on a contingency fee basis, which means you only pay attorney fees if we win. We are available to help you 24/7.
Call us today for a free confidential consultation at 248-352-2110 or Toll Free at 866-447-3563 to speak to a Michigan car accident lawyer.