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How Do Insurance Companies Determine the Value of a Motorcycle Case?

May 17, 2023 | Motorcycle Accident

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motorcycle accident in Indiana

You sustained injuries in a motorcycle accident in Indiana because of someone else’s careless road use. Now you’re dealing with staggering medical expenses, missed days at work, physical pain, and emotional trauma.

How much is your motorcycle accident case worth? Here is information on how insurance companies typically calculate a settlement offer after motorcycle injuries.

Calculating the Worth of Motorcycle Accident Cases in Indiana

If your accident occurred because of another motorist’s negligence or recklessness, you may be eligible for compensation. The at-fault driver’s insurance company typically uses a formula to determine the value of motorcycle accident cases. The insurer may issue a settlement offer based on:

  • Your specific injury. Typically, severe or permanent injuries correspond to a higher compensation amount.
  • Your medical bills. This includes hospitalization, surgeries, rehabilitation, prescription drugs, and more.
  • The at-fault party’s insurance policy. Indiana requires motorists to carry a minimum of $25,000 uninsured motorists’ bodily injury coverage per person, $50,000 underinsured motorists’ bodily injury coverage, and $10,000 property damage coverage. However, the total costs of treating severe injuries may exceed policy caps.

Generally, you may expect to collect compensation for past and prospective medical bills, lost wages, and pain and suffering. Pain and suffering include physical and mental anguish, scarring and disfigurement, and disruptions or losses of enjoyment you have experienced because of the accident.

Comparative Fault in Indiana Motorcycle Accidents

In Indiana, injured motorcyclists may seek compensation if they share some of the responsibility for the accident, as long as the total percentage of their fault is below 50%.

For instance, let’s say your motorcycle accident case is worth $200,000. However, after analyzing your accident, the insurer determined you share 30% of the fault for the accident. Thus, your case’s value shrinks by 30%, bringing the settlement offer down to $140,000.

Why You Need Legal Representation for Your Motorcycle Accident Case

As a motorcycle accident victim, you may be overwhelmed and in pain. You just want to focus on your recovery. Without knowing your rights, you may be glad to accept any offer the insurer comes up with, whether or not it truly covers all the costs associated with your injury.

To the insurance company, you may be just a number. Most insurers will try to downplay the extent of your injuries or try to pin some of the damage on a pre-existing condition. They may also try to exploit Indiana’s fault-based system and claim you were partially responsible for the accident. 

Never trust an insurance adjuster’s valuation outright or agree to a settlement offer without consulting an experienced personal injury lawyer.

Unless a skilled and assertive lawyer protects your rights, a dishonest insurance company may take advantage of your vulnerable situation. The insurer may make a lowball offer and try to convince you that’s all you may expect.

A motorcycle accident lawyer can:

  • Evaluate your case based on your medical records, police reports, and other available evidence
  • Let you know whether the insurance company has made you a reasonable offer
  • Negotiate with the insurance company to try to raise the total amount of your settlement
  • Advise you on further legal options in case settlement negotiations fall through

Stewart & Stewart Attorneys: Representing Injured Motorcycle Riders and Their Families Across Indiana

Did you or your loved one suffer a motorcycle accident in Indiana? Stewart & Stewart Attorneys are here to fight for your rights and work hard to bring your motorcycle accident case to a fair resolution. Don’t wait; call 1-800-333-3529 24/7/365 or contact us online for a free consultation with an experienced vehicle accident attorney. You only pay when we win.

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If you have been involved in an Indiana personal injury accident, contact us at Stewart & Stewart Attorneys. Our Indiana personal injury lawyers represent victims throughout the state, including Carmel and Anderson. We have also successfully advocated for clients throughout the area, including Fort Wayne, Gary, Indianapolis, South Bend. Complete a free online consultation form or call us at (800) 33-33-LAW!

Stewart & Stewart Attorneys have the knowledge and experience to defend your rights in the following areas of Indiana injury law: auto accident, brain injury, drug injury, defective product, fire and burn injury, insurance dispute, medical malpractice, motorcycle accident, nursing home abuse, slip and fall,  truck accident, workers’ compensation and wrongful death.