No two car accidents are alike, so no two settlements will be alike. The amount you can sue the at-fault party for in an Alaska car accident depends on various factors. You could receive compensation if you have suffered severe injuries or your car was totaled in the accident. This article explains how to calculate the compensation you could receive in a personal injury claim.

How much you receive from a car accident personal injury lawsuit in Alaska depends on the severity of your injuries, damage to your car, and other factors such as whether you were partly at fault for the accident. The more serious your injuries are, the higher your settlement will be.

For example, if you suffered a broken bone in the accident, you can expect a higher settlement than if you only suffered whiplash. You want to find an attorney for personal injury in Alaska to learn the possible settlement you could receive.

Factors That Help Determine Your Settlement Value  

Factors that may help determine your settlement value include:

• The extent of your injuries – The more severe your injuries are, the higher your settlement will be. To prove you sustained injuries in the accident, you should request a doctor’s report and any other relevant medical records.
• Whether you were partly at fault for the accident – Alaska follows a “pure comparative fault” rule when both parties are found to share blame for an accident. If you were partly at fault for the accident, your settlement would be reduced by the percentage that you were at fault. For example, if you are found 20% at fault for an accident that caused $10,000 in damages, you would only receive $8,000 from the other driver.
• The damage level done to your vehicle in the accident – If your car was totaled in the accident, you might be able to sue for the value of your vehicle.
• Whether the liable party was driving under the influence of alcohol or drugs -If the at-fault party was driving while intoxicated, you could sue for punitive damages.
• The lost wages you have suffered.
• The impact the accident has had on your life.
• How strong the evidence is against the liable party.
• How cooperative the liable party is in the claims process.

How are Car Accident Settlements Calculated?

Before calculating your settlements, you must collect supporting evidence to prove your injuries prevent you from working. The disability slip must show the period you should take off from work to recover. Obtain your copy of the most recent pay stubs showing your wages. Consult your lawyer to determine if you are required to submit your most recent tax return. Also, your employer should give you a letter to confirm your employment details.

When estimating the value of the damage done to your car, you want to offer information like the initial car value, its condition, the depreciated amount, and mileage before the crash. To calculate the car repair costs, you should look at the cost of the specific parts that need replacing.

Insurance companies use various methods to determine the worth of your lawsuit, including:

The Multiplier method

When personal injury victims in Alaska car accidents are owed settlements, courts use the Multiplier method to calculate how much each person is owed. This method considers the victim’s medical bills, lost wages, and other damages. The court will then multiply the victim’s total damages by 1.5 to 5, depending on the accident’s severity. The resulting number is the victim’s settlement offer.

For example, if you have $10,000 in medical bills and $5,000 in lost wages, your settlement offer would be $25,000 if the multiplier was 5. This method is used to provide fair compensation to personal injury victims who have been wrongfully injured.

The Per Diem Method

If you are involved in an Alaska car accident, the Per Diem method could help determine appropriate compensation. This method considers both your medical expenses and your lost wages. First, your medical bills are totaled up, and then an estimate is made for the cost of future medical care.

Next, your lost wages are calculated based on the number of days you missed from work. Your personal injury lawyer and court or insurance provider consider the pain and suffering you have endured. They will arrive at a per diem rate that they believe is fair with this information.

This rate is then multiplied by the number of days from the accident until you reach maximum medical improvement. The result is the total amount of your compensatory damages. While this may seem complex, working with an experienced personal injury attorney can ensure that you receive the compensation you deserve.