Thousands of vehicle accidents happen every day, making it likely everyone will be involved in one or more accidents in their driving careers. The above video with Steven Gursten, President of the Motor Vehicle Trial Lawyers Association discusses how auto accident attorneys assist when a vehicle crash does occur.
He starts off by discussing one of the primary questions auto accident attorneys get asked: “How much my is accident worth?” He explains that this process has changed a great deal with the advent of software programs such as Colossus. Instead of sitting down with an adjuster and using a simple formula, 80 percent of all auto insurance companies now rely on Colossus to process the specifics and then recommend a settlement.
The industry did research and found that those individuals who used a lawyer settled for three to four times as much as those without a lawyer. As a result, adjusters are heavily incentivized to seek early settlements without lawyers involved. The programs have gotten even more sophisticated and now evaluate the experience and financial strength of any lawyer involved. The numbers show that the more successful and financially stable law firms often achieve settlements that are far more than the standard three or four times greater amount offered to those who have no legal representation at all.