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To determine how much money you can get for a car accident, you will need to total up the cost of your financial damages. This figure will also serve as the basis for how much you can collect for your noneconomic damages, like pain and suffering. Because each car accident case comes with its own set of circumstances, each case is different in how much money claimants can recover.
You can hire a car accident lawyer to help you calculate these costs so that you have an idea of what your case is worth before entering into negotiations or going to trial. For each loss you claim, you will need to provide evidence that your car accident caused it. You will want to include as much evidence in your case as possible.
Types of Damages You Could Get for a Car Accident Case
To calculate how much compensation you may be entitled to receive, you will need to itemize your damages. Damages can generally fall under two categories: economic and noneconomic damages. However, separate damages may apply to cases where a fatality occurred, or someone committed a crime.
Economic Damages
Economic damages cover monetary expenses that result from a car accident. These damages generally apply to money spent or lost because of your injuries. Such losses may include:
- Property damage
- Medical expenses, such as the cost of emergency room care, surgeries, or rehabilitation
- Lost wages or income due to your recovery period
- Reduced earning capacity if your injury prevents you from working at your regular capacity
- Vehicle repair or replacement costs
You can supply multiple forms of evidence to prove the monetary value of these losses. Examples of evidence might include repair bills, medical invoices, paycheck stubs, and receipts for medications or medical supplies.
Non-Economic Damages
Noneconomic damages may be harder to claim since they do not have a standard monetary value. They tend to be subjective and may be calculated based on the formula used by your insurance company.
Your lawyer may use the multiplier method to calculate these costs, which means they might multiply your economic damages by a value between 1.5 and 5, depending on the severity of your injuries. In other cases, an insurance company may have a general policy to cover these damages, and you may be awarded a predetermined amount.
Non-economic damages may include:
- Pain and suffering
- Mental anguish
- Physical pain and disability
- Disfigurement
- Impaired quality of life
You may be eligible to recover damages not included on this list.
Wrongful Death Damages
If your car accident led to the death of a loved one, you may be eligible to claim damages related to their passing.
These damages may cover costs just prior to their death, and may include:
- Funeral and burial/cremation costs
- Loss of consortium
- The decedent’s medical expenses
- Loss of parental guidance
- Loss of future income
Again, you may be eligible to recover compensation for items not included here.
Work with George Sink, P.A. Injury Lawyers to Fight for Compensation
It may be in your interest to work with a lawyer to discover how much money you can get for a car accident. A lawyer will be able to help you calculate the total cost of the damages that resulted from your accident. While every case is different, your lawyer can help you determine a fair value for your car accident case so that you can enter into negotiations knowing what your case is worth.
At George Sink, P.A. Injury Lawyers, our team is ready to support your legal needs and fight for the financial recovery you need to recoup your losses. Speak with a member of our team to discuss the details of your case, and we can begin advising you on your legal options.