How to Determine Your Car Accident Claim’s Worth

On the road, every driver owes a duty of care to the other drivers and pedestrians on the road. Everyone has a responsibility to keep themselves and others safe. Escaping this responsibility is easy, but no one can escape the consequences.

Escaping responsibilities when driving a car can result in an accident, which is the first consequence. The second will be the victims taking action against the driver.

Victims will file a car accident lawsuit to recover their losses and hold the negligent driver accountable for their actions. However, it is the victim’s responsibility to prove their claim. A car accident lawyer can help victims prove negligence and obtain fair compensation.

Car accident victims will sustain many types of losses, such as:

• Medical expenses
• Lost wages
• Property repair costs
• Loss of earning capacity
• Loss of enjoyment of life
• Loss of consortium

All the aforementioned losses can be recovered by filing a personal injury claim. To claim fair compensation, the victim must know their exact losses. Not knowing the exact losses leads to obtaining reduced compensation.

Following are some things you, as the victim, need to consider when calculating damages:

• Severity of Your Injuries
• Your Expenses
• No of Days You Missed Work
• Non-Economic Losses

Severity of Your Injuries

Car accident injuries range from cuts and bruises to amputations. Obviously, the losses you will incur will be more when your injuries are severe. Also, you will have a hard time carrying out simple activities.

Severe injuries can heavily interfere with daily life. When calculating damages, you need to consider the severity of your injuries. Calculate the expenses you incur to treat the injuries. 

Your Expenses

All the expenses you incur as a result of the accident are considered as losses. You need to document all your expenses to know your losses.

Expenses such as medical bills and property repair costs should be considered when calculating losses.

You may also incur extra expenses if the accident has caused you any disabilities. You may incur expenses like assistive care and home adjustments when you have a disability.

No of Days You Missed Work

Missing work following an accident is pretty normal. Your injuries will stop you from working. You may have to take more leave if your job is physically demanding.

Calculate the number of days you missed work and the wages you lost due to that to know your exact losses. 

It is also possible that you may lose your ability to earn due to your injuries. In such cases, consider the amount you would have earned if you weren’t injured till your retirement.

Non-Economic Losses

Car accidents don’t just cause financial losses. They also cause non-financial losses, such as loss of companionship. The problem with non-economic losses is that it is not easy to calculate them. Proving non-economic losses is also fairly hard.

Usually, non-economic damages are calculated by the multiplier method. Your economic losses will be multiplied by a number between 1.5 to 5.

Non-economic damages can significantly increase your compensation. You will definitely need the help of an experienced car accident lawyer to calculate and prove non-economic losses.

Wrapping Up

Other than the aforementioned, you can include burial expenses if the accident has resulted in the death of a loved one. Calculating damages is the most important part of a car accident claim. By calculating accurately, you can know the worth of your accident claim.

When you know your losses, you can reject lowball offers right away. It is best to leave the calculating process to your lawyer. They will calculate the accurate losses and obtain compensation for those losses.