How Much Is My ICBC Claim Worth?
After a car accident, one of the most frequently asked questions is, “How much is my injury worth?” Any experienced car accident lawyer will not be able to tell you the answer until the facts about the accident have been ascertained, liability has been established and your medical treatment has been concluded.
Time Vs. Dollar Value
When it comes to settlement value, no two cases are even remotely similar. Although hospital bills, living expenses and short term support are of immediate concern, car accident injuries can linger for years. Time is often the only way to determine what impact a car accident will have on your long term quality of life.
There are several compensation components related to a car accident injury. If someone else’s negligence has caused you harm, you may be eligible for payment for other costs related to the accident, inconvenience, pain and suffering. In BC, ICBC is required to pay Part 7 Benefits or No-Fault Accident Benefits for:
- medical
- disability
- homemaker
- death
If you have been injured, it is in your best interest to work through the process of medical care and achieve the optimum level of functionality. Settling a case before the extent of your injuries are known can be detrimental to your long term financial situation. Once a car accident case is settled, it is final. You cannot return to ICBC after a settlement claiming that the injury was worse than you previously thought. Once you have signed the release, you have discharged ICBC from any further obligation to you.
Klein Lyons will work with you and your doctor’s professional assessment to determine when to begin assessing your claim. Often, following an accident, many months go by before any attempt is made at valuing a claim. This is because the injured party may still be recovering from injuries. A case should not be settled until your doctor is able to state what the future will probably hold for you. Will there be future medical expenses? Will there be additional surgery? Will there be permanent disability as a result of the injuries? These are all things that your doctor must determine before Klein Lyons can begin valuing your case. Only at that time, can your car accident lawyer negotiate the settlement that is worthy of your injuries. This can take months and sometimes years to achieve.
How we can help
Film Crew Driver suffers concussion – Insurance offers $25,000; KL negotiates a loss of income settlement for $437,000.
© 2012 Klein Lyons