The first point to understand about calculating a whiplash insurance settlement estimate is that the final amount may not be known for a long period of time after the accident. You must first determine if you will fully or partially recover from the whiplash, or if you will suffer chronic problems. To get a full and fair compensation, you will have to collect as much documentation as possible that concerns your accident.
Collecting Evidence of Loss
It is important to ask for compensation that fully pays for your medical expenses and pain and suffering. The insurance company will require extensive documentation supporting your settlement claim. The initial whiplash insurance settlement estimate will most likely be lower than your expectations, and the final amount you collect will depend on your ability to prove your loss claims.
To estimate a settlement, you will need to collect documentation of:
- How the auto accident occurred and how dealing with the consequences of the accident have impacted your life
- Medical expenses related to the initial post-accident care and ongoing medical care for injuries sustained
- Rehabilitation expenses
- Loss of income (now and in the future)
- Disability and especially how it impacts your ability to function day-to-day and subsequently led to loss of your job
- Evidence you have experienced pain and suffering
- Auto repair expenses or losses not covered by insurance
The Demand Letter you send will state an amount you expect to be compensated for injuries, loss of income and auto repair. Your estimated settlement for the medical expenses should be net of any that were covered by health insurance payments.
Settlement Package
The difficulty that arises is when it appears there will be life-long pain and suffering due to the injuries sustained in an accident. When you cannot determine a final amount, it is important to contact an attorney for assistance. A personal injury attorney is experienced in determining fair compensation amounts in cases where ongoing rehabilitation and permanent loss of physical or mental functioning is incurred.
When the final settlement amount can be calculated, a settlement Demand Letter with supporting documentation is sent to the insurance company. This will be the first step in the actual negotiation process. It is important to not accept a Release until you believe you are receiving fair compensation.
Consult an Attorney
When there is a whiplash injury, you should contact an attorney immediately. The attorney will assist you throughout the process of estimating a settlement and can help you negotiate with the insurance company.
