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How to know the value of your car accident claim

| Oct 28, 2020 | Car Accidents |

The process of dealing with a car accident in New York can be a daunting experience. This is especially true when a person wants to file a claim on their vehicle. If an accident you were in was reported to be the other person’s fault, then their insurance company and lawyers may attempt to claim that your vehicle’s value is much lower than it actually is. Although most car accident cases don’t go to court, the reality is that if there is no agreement on your car’s value, a court case could proceed. It is important to understand how to obtain the value of your car.

Economic loses may be included in the value of your vehicle

One of the things your personal injury attorney may do for you is find out how much of an economic impact the loss of your vehicle has caused on your life. The fact is that many people rely on their car to make it to work each day, which is taken into consideration when determining the value of a vehicle. For example, if two parents are severely injured during an auto accident that totals their vehicle, then they could have instantly lost their ability to provide food and shelter for their children. A judge may see this and determine that the compensation must be higher than the car’s value.

Non-economic things that can help raise the value of your vehicle

Although a car accident can certainly cause financial hardship, there are also other non-economic items that go into determining the overall value of your car. Perhaps the most common non-economic issue that arises during settlement talks is the extent of non-physical injuries. These can involve a number of things such as emotional distress, reduced quality of life and disfigurement.

The process of receiving the value of your car can be a long one. This is why you may want to ensure that you have a legal team with you throughout the duration of either the settlement or court phase.

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