How Insurance Companies Value Your Injury ClaimHow do insurance companies insurance companies value claims? Have you been in a vehicle accident?  If so, are you wondering what your injury claim is worth? Many factors are considered before the value is determined, which means the compensation varies widely from case to case. Mingus Mountain Law Group wants to help Prescott and Flagstaff auto accident victims understand how their insurance claim is valued.

What is Compensable
Before insurance companies begin calculating the potential cost of an accident, they must first determine what is being covered. In most cases, the driver who is liable for the collision must compensate the injured party for the following:

  • Damaged property
  • Medical expenses
  • Lost income (if the victim is unable to work or if they missed work due to receiving treatment for their injuries)
  • Permanent disability or disfigurement
  • Loss of experiences, such as school, vacation, or training
  • Emotional damages

Calculating the Damages
Calculating special damages, the amount of compensation a victim has lost or has paid due to their injury, is usually a straight-forward process. However, placing a dollar value on an injured party’s general damages is more complicated as these damages differ from person to person. General damages examine how the injuries have adversely affected the injured party’s overall life, including “pain and suffering.”

An attorney experienced in auto collisions will help you accurately value your losses and negotiate a fair settlement for all of your damages and pain. Insurance companies value claims by computer programs with unfair logarithms to estimate damages, resulting in lowball offers. Do not settle with an insurance company until talking to us first! Mingus Mountain Law Group is dedicated to serving the Prescott and Flagstaff communities, ensuring victims of auto collisions are fairly compensated. If you or a loved one has been injured in an accident, Contact Us in Prescott at 928-775-9398 or in Flagstaff at 928-779-9304.