When you have costs associated with not only damages, but injuries, too, you’ll want to know how much a car accident settlement is worth.
Many people choose to file a lawsuit to recoup the financial damages they have incurred. While automobile insurance may reimburse you for damages done to your car and/or personal property, there are many other costs to consider in a car accident case, and in deciding upon a settlement amount, if one is offered. One of the most frequent questions we get in our initial consultation appointments is, “How much would I get in a settlement of my car accident case?”
The answer is—each case is different. There are certain costs that are clear and others that can be tougher to estimate.
Applying Hard Costs to Determine How Much a Car Accident Settlement Is Worth
When calculating damages, there are some costs that are clear and easily calculated. These hard costs include things like car repair and the cost of replacement of any personal items that were damaged as a result of the accident. Medical costs such as reimbursement of co-pays and any costs you incurred for tests, exams, rehabilitation or therapy, prescriptions, and so forth are also straightforward. Even the cost of any lost wages from time you have to miss while being off work are fairly easy to calculate. This includes time not only on the day of the accident, but any missed time due to doctor’s appointments, procedures, tests, rehab, etc.
Other Damages in a Car Accident Settlement
There are other costs applicable to how may a car accident settlement is worth. They are comprised of estimates, projections, and opinion based on cases similar to yours. These are called “non-economic” damages. For example, if your medical treatment is expected to take a long time, or you have suffered serious and/or chronic injuries that will require many months or even a lifetime of treatment, those costs can be calculated, estimated, and included in your potential settlement. This classification also includes the loss of future income you expect you would have received had you not been injured in the accident.
Further, there are costs that can be attached to the loss of enjoyment of your life. If your sex life has been negatively affected by the accident, for example, and your relationship with your companion has suffered as a result, compensation can be included in your settlement for this difficulty.
Finally, there is often an amount calculated for “pain and suffering,” which covers a broad spectrum of difficulties caused from the accident. These can include depression, anxiety, and post-traumatic stress disorder, just to name a few, and the amounts calculated for these damages can reach quite high numbers, depending on the severity and complexity of your suffering.
Learn from an Attorney How Much Your Car Accident Settlement Is Worth
Lawyers who have handled car accident cases similar to yours understand how to attach value to all facets of a case and will work alongside you to arrive at a total number, inclusive of all present and future expected costs, that would make an acceptable settlement if the other party offers to settle out of court. But, more importantly, if your case does proceed to a trial, they can represent your interests in court and fight for your rights to compensation for your injuries, your pain, your time, and your suffering.
The Law Office of Jeff Green has a deep bench of experience in fighting for the rights of those injured in car accidents in and around the Peoria, Illinois, area. We understand how to document and track all expenses and categories related to your car accident and will work diligently to represent your interests—now and into the future.
If you have been injured in a car accident and want to know how much your settlement might be worth, contact us today for a free consultation.
