The reason motorists have auto insurance is to cover losses or damages victims suffer in a motor vehicle accident. Many only think in terms of property damage after a crash, but your insurance settlement should also cover your physical injuries.
New Jersey is a no-fault state, meaning you must file an accident claim with your insurance provider, not the other driver’s. Knowing the extent of your losses can help you determine if the settlement your insurer offers will cover your physical harm, and here are two things to consider.
The nature of your injuries
Many injuries, even severe ones, can heal as time passes, but others offer less hope for a full recovery. Traumatic brain injuries, spinal cord damage and catastrophic burns are three examples of accident injuries that pose a risk of lingering or lifelong problems.
Know the scope of your injuries and your odds of suffering long-term problems when filing your accident claim. Obtain copies of your medical records and physician statements to support your compensation claim.
The effect on your earning capacity
Severe injuries sustained in an accident could interfere with your immediate earning capacity as you may be incapacitated for weeks or months. Unfortunately, they could also have a detrimental effect on your future earning capacity.
While many with severe injuries remain productive members of the workforce, some cannot earn as much as they did before they got hurt. Ensure you understand and document how the accident might impact your current and future earning capacity to account for potential economic hardships.
Auto insurance claims that involve life-altering physical injuries are much more complex than property damage-only claims. Since your financial security may be in jeopardy, consider obtaining legal guidance.