Awards & Associations

Tulsa Car Accident Settlement Process

The Tulsa car accident settlement process begins with the conclusion of medical care and the sending of a demand letter to the defendant’s insurance company. This letter will demand a calculated amount of compensation for pain, suffering, lost wages, medical expenses, and potential punishment for those responsible for the accident. An attorney could write a demand letter on your behalf and may help negotiate a settlement with the insurance adjustors. For more information, consult with a skilled car wreck lawyer.

Working with the Insurance Adjuster

The car accident settlement process in Tulsa involves working with an insurance adjuster. This takes place after the injured party has completed all their medical treatment and reached maximum medical improvement. This means that the treatment that they have received has put them back in the same condition that they were in prior to the accident or they have reached the limit of treatment that can improve their condition.

Once that treatment has been completed, the injured victim’s attorney will gather all the bills and records to create a demand letter to the insurance company. The attorney will write a demand letter outlining all the applicable damage from three categories: economic, non-economic, and punitive damages. They will arrive at a single number that the insurance adjuster will accept, reject, or counter with something lower.

Then it is a negotiation process between the attorney, the adjuster, and the claimant. The goal is to find the balance between all the party’s objective arguments and come to an agreement on what they think the claim is worth.

The Benefit of Hiring an Attorney in a Settlement Process

Attorneys are a benefit to someone looking to settle a car crash suit because they may help maximize the value of the claim. Insurance adjusters know that an unrepresented injured party may not know what their claim is worth because they do not have the experience in valuing the damages available.

If the settlement offer is not enough for the claimant, the lawyer can take the case to court. Once a case goes to a jury, there are risks to the insurance company that they can give them a value well above what the insurance company thinks it is worth.

That leverage is only present when a person hires an attorney. They have experience in valuing these claims and can also file a lawsuit if negotiations fail to settle the claim.

Determining the Amount of a Settlement

The amount of a settlement is a decision between both the claimant and the attorney based on the circumstances of each claim. Much of it is based on the type and extent of injuries that the party has received. The attorney will present what they think is fair to the adjuster and the negotiations start.

Economic Damages

Some types of damages are easy to calculate such as economic damages. Economic damages are the money that was lost due to the accident. If the victim is off of work while they were injured, they presumably lost payments from work. Calculating these damages is part of the Tulsa car accident settlement process.

There are often medical bills that must be paid out of pocket. The victim may also need future medical care. Those are all economic damages that can be calculated using life care experts or doctors who can predict future care requirements. If the victim must take a lower paying job due to a difference in their abilities post-accident, the margin between those two wages is considered economic damages that can be calculated.

Non-economic Damages

The non-economic and punitive damages are very subjective calculations and there is a number of ways to do that depending on what type of jury they think they have and who they are presenting to. Non-economic damages include pain and suffering, inconvenience, loss of enjoyment of activities, and other factors.

Punitive Damages

Punitive damages are damages to punish those who have maliciously and recklessly damaged people. They are meant to punish the person who caused the injuries. It is important to note that punitive damages are rarely recovered. However, if warranted, an attorney could help an injured victim recover punitive damages.

Contact a Personal Injury Lawyer Today

Nothing can change the outcome of an accident that has already happened, but you may be entitled to compensation for your pain and suffering, medical bills, and other out of pocket expenses. Calculating such damages is part of the Tulsa car accident settlement process, and the insurance companies are obliged to participate. However, they are not on your side, which is why it is so essential to hire a compassionate attorney. Call today to schedule a consultation for your case.