In this article, we are going to have a discussion on the topic of motorcycle accident compensation. There exist no rules to determine the value of compensation for a motorcycle accident. While there are some factors on which estimated awards were calculated, the value of each case must be calculated on their accident specific criteria.
Understanding the Extent of Injuries
The extent of injuries may vary in different cases. Injuries like fractures, traumatic brain injury, muscle tears are extremely severe and need long term medical treatments. This may result in huge medical bills which might not be affordable to the victim.
Don’t Believe the Initial Estimation of Insurance Company
Insurance companies focus only on specific injuries and ignore minor ones. They make estimation on injuries by considering its nature, average medical expense, and impact of the injury on the victim’s livelihood. Then this estimation was evaluated by the insurance adjuster who is responsible for protecting the company’s profit. An insurance adjuster always tries to cut off your compensation to a smaller amount.
In addition to this, the initial estimation of insurance companies does not take into account the emotional trauma, pain, and sufferings, wage loss, etc. of the victim. So accepting the initial settlement offer of an insurance company will be a great loss for you.
Settlement Out of Court
To get compensation for motorcycle accident injuries, the most common and efficient way is insurance settlements. The insurance company of the opposite party will propose a settlement offer for the motorcycle accident. Before accepting the offers keep in mind that more than being fair, they always try to save their money. So when you accept the offer, you have to settle for a smaller amount which may be insufficient to meet your loss.
Calculation of Compensation
To calculate a fair and reasonable compensation for a motorcycle accident, we have to consider two types of financial damages.
- Special or actual damages
- General or Pain and suffering damages
Special damages are damages that can have a fixed value. This includes medical bills, repair or replacement of motorcycle, medical transportation cost, lost wages, etc. Special damages involve a major portion of your compensation.
General or pain and suffering damages which have no exact value include emotional trauma, mental stress, suffered pain, disfigurement, etc.
Insurance Policy Limits
California made the limit of minimum liability coverage to $15,000 to limit the compensation for motorcycle accident to $15k. But if the motorcyclist deserves more than the California limit, he can hope for his deserved compensation by proving the need for larger compensation.