A car accident settlement provides the compensation you deserve for your damages. Knowing if the settlement is fair requires an understanding of what exactly it should cover.
To evaluate a settlement, it is important to review the full extent of your damages. You also need to know what to expect from the negotiation process and how the law will protect your interests.
Account for all damages
A fair car accident settlement should address all of your economic and non-economic damages. Economic damages include medical bills, lost wages and property repairs. These are costs that have a direct monetary value you can pursue in a settlement.
Non-economic damages, such as pain and suffering, also deserve attention despite being more difficult to evaluate. These damages often require careful consideration of how the accident impacts your daily life.
Understand Delaware’s comparative negligence rule
Delaware follows a comparative negligence system, which may reduce your compensation based on your percentage of fault in the accident. For instance, if you were 20% at fault, your settlement would decrease by 20%.
A fair settlement should reflect an accurate determination of each party’s fault. Disputes over fault can arise, so it is important to collect evidence such as police reports and witness statements to strengthen your case.
Evaluate future needs
Some injuries result in long-term or permanent effects. If you require ongoing medical treatment or have a reduced ability to work, the settlement should account for future expenses. Calculating these costs requires careful planning, as settling too early could leave you with uncovered expenses.
Insurance companies may offer quick settlements in the hopes of closing the case early. Take the time to evaluate whether the settlement covers all your damages. Review your expenses, future needs and the evidence of fault to help determine if the settlement meets your needs.