If you are injured in a bicycle accident, you may wonder how much you can recover from the person who was responsible. You may have serious injuries and be unable to work. Your bills will not stop. You shouldn’t have to worry about the legal process while you recover. Let us handle your case and explain to you the bike accident claim amount you may be able to obtain. Call attorney Michael Stephenson at Los Angeles Bicycle Law today at (424) 230-3240.
Types of Damages in a Bike Accident
There are two types of damages you can recover after a bike accident: economic and non-economic. Economic damages are related to those that can be easily quantified by monetary loss, such as medical costs and wages that are not earned. Non-economic damages are those that are not as easy to quantify. You won’t have receipts for your non-economic damages. They include things like pain and suffering and PTSD.
Common losses you can recover in a bike accident include:
- Past and future medical costs
- Lost wages
- Loss of earning capacity
- Pain and suffering
- Property damages
- Permanent disability
- Mental anguish
- Physical limitations
- Punitive damages
Assessing Your Bike Accident Claim Amount
You may be eligible for a settlement or verdict after your bike accident. Determining the amount you will get depends on the severity of your injuries and other losses. Your attorney will make a demand of the insurance company of the person responsible in an attempt to get a settlement offer. If the insurance company makes a reasonable offer, you may be able to make a settlement agreement. However, if the insurance company makes a low-ball offer, then you may have to file a lawsuit. Your attorney can guide you through this process so that you can focus on continuing to recover from your injuries.
How Much Is My Bike Accident Claim Worth?
Your bike accident claim value will be based on your loses; however, there will be a maximum amount that you can recover from the insurance company. Thus, even if you have $300,000 in medical bills, if the insurance policy of the person responsible maxes out at $100,000, then that’s the highest value of your claim from the insurance company.
It is possible to sue the person responsible for any additional losses that were not covered by the insurance company. However, few people have enough funds to cover a serious accident that exceeds the value of their insurance policy. It would be a futile effort to sue them in court.
How Much Will You Have to Pay an Attorney?
When considering your bike accident claim amount, you will also have to consider how much money your attorney will take from your settlement or verdict. Most personal injury attorneys offer services on a contingency fee basis. That means that they don’t get paid until you get a settlement or win in court.
Most attorneys take at least 1/3 of your recovery and will also take money to cover legal expenses, such as court filing fees and expert witness costs. Settlement negotiations and a court case can be extremely costly, so it’s best to talk to your attorney about their fees before you hire them. You should have a good understanding of how much they will charge from your compensation.
Consult a Bike Accident Attorney For Help
Bikers rarely have enough protection to prevent serious injury in an accident, especially if they are hit by a large vehicle. If you were injured, you deserve compensation from the person who was responsible. Learn more about your bike accident claim amount from attorney Michael Stephenson at Los Angeles Bicycle Law. Call today at (424) 230-3240.