If you were injured in a Kansas City motorcycle accident, you will likely need to file an insurance claim. However, dealing with insurance companies can be a stressful process. Their representatives often approach motorcycle accident claims with one primary goal: minimizing how much their company pays you.
The gap between what insurance companies offer and what motorcycle accident victims truly need is often substantial. Understanding how insurance companies calculate these values, and knowing when their assessments fall short, can prepare you and your attorney to fight for the compensation you deserve.
Recoverable Damages in a Motorcycle Accident Claim
A motorcycle accident settlement typically includes two categories of damages: economic and non-economic.
Economic damages represent tangible financial losses with specific dollar amounts. These include medical bills, rehabilitation costs, lost wages, property damage, and future medical expenses related to your injuries. These damages can be documented through receipts, invoices, pay stubs, and other forms of documentation.
Non-economic damages compensate for intangible losses that impact your quality of life. These include physical pain, emotional distress, loss of enjoyment of life, and permanent disfigurement or disability. Unlike economic damages, these do not come with a paper trail but are equally valid components of your claim.
How Do Insurance Companies Calculate Economic Damages?
Calculating economic damages is relatively straightforward. Insurance adjusters typically begin by totaling your current medical bills, property damage, and lost income. For these calculations, they rely on documentation you provide, including medical records, repair estimates, and employment information.
Where calculations become contentious is in projecting future expenses. Insurance companies often underestimate long-term medical needs, rehabilitation requirements, and reduced earning capacity. They may dispute the necessity of certain treatments or question whether all your medical issues resulted from the accident.
In these situations, your injury attorney in Kansas City can hire experts who can analyze your future medical needs, reduced earning capacity, and other needs and testify about the amount you truly require.
How Do Insurance Companies Calculate Non-Economic Damages?
For non-economic damages, insurance companies typically use one of two methods:
- The multiplier method takes a number and multiplies it by your economic damages to determine your pain and suffering award. Severe injuries usually have higher multipliers. However, insurers often start with lower multipliers to reduce their financial exposure.
- The per diem method assigns a daily dollar amount to your pain and suffering, multiplied by the number of days you experienced these effects. While this approach can better account for prolonged recovery periods, insurers typically propose minimal daily rates.
An attorney can fight for fair non-economic damages by presenting compelling evidence of your suffering, challenging lowball valuations, and negotiating for multipliers or daily rates that truly reflect the impact of your injuries on your life.
Trust Dollar, Burns, Becker, and Hershewe to Fight for Your Full Compensation
Insurance companies are businesses, and their initial calculations rarely account for the full scope of your suffering and long-term needs. In these situations, you need an advocate in your corner who can determine what your motorcycle accident claim is truly worth.
At Dollar, Burns, Becker, and Hershewe, we have seen every tactic that insurers use to minimize payouts and know exactly how to counter them. Our attorneys will fight aggressively for every dollar that you deserve. Contact us today at (816) 876-2600 for a free case evaluation and discover how we can level the playing field against powerful insurance companies.