Motor vehicles can cause devastating amounts of damage when they get into collisions. The passengers in crashing vehicles can hit the doors, dashboard, or get hit with debris like flying glass and metal parts. Because car accidents are so frequent, they`re the main cause of personal injuries and have a higher death rate than other accidents. Around 90 people die every day because of car accidents. After you`ve been in a car accident that was not your fault, you can seek compensation for your damages. The other driver can be held liable for your wounds, along with any property damage that isn`t covered by your insurer. NYC car accident attorneys can calculate car accident settlements based on economic and non-economic damages.

What Are Factors That Influence The Settlement Amount?

All car accidents are unique, with damages that are based on the severity of the accident. The way a settlement is calculated is based on critical factors that can affect the amount that the other driver owes you in compensation. Here are some factors that can change how much you receive in settlement money:

Catastrophic Injuries 

While you can still be compensated for common injuries such as cuts, bruises, and sprains, you probably won`t receive much. If you experienced a catastrophic injury, you could receive much more compensation. Catastrophic injuries include severe head wounds, spinal cord injuries, amputations, blindness, hearing loss, and other grievous wounds. These injuries can cause a permanent disability and prevent you from living your life normally. Those lifelong damages increase the settlement amount. 

Lost Wages 

If your injuries were so serious that you were unable to work full-time, they can cause lost income that must be compensated for. All the time you miss from work can make you struggle financially. Because you may be unable to return to work for a while or forever, you will need to be compensated for future lost wages. 

Property Damage

Although in many cases, your property damage is covered by your insurance company, it may be so severe that you need additional money. For example, if your car was damaged beyond repair and has to be completely replaced, then you can seek additional compensation from the other party. 

Wrongful Death

In a case of wrongful death, settlement amounts can drastically increase because someone died because of another`s negligence. Additional damages not applicable to other cases are included in a car accident that resulted in wrongful death. For example, lost earning capacity must be included if the wrongful death victim has dependents, which means that the lifetime salary they would have earned should be calculated and included in the settlement. Other damages are funeral and burial fees. Non-economic damages can include loss of consortium, guardianship, mentorship, and other damages that were caused by the loss of a loved one. 

Non-Economic Damages

In addition to economic damages, you may be experiencing non-economic damages due to your wounds. When you`ve been severely injured, you may be struggling with feelings of anxiety, PTSD, depression, grief, and more. These emotions can have a negative impact on your daily life and make it difficult for you to participate in the activities you enjoyed before. The more severe your non-economic damages, the higher the compensation. 

How Is The Settlement Calculated?

Your car accident attorney has experience accurately calculating how much their clients are owed in compensation. Their knowledge of personal injury will give you the best chance at obtaining full compensation for your injuries. They will investigate your claim and all of your medical bills, lost wages, and property damage. The total of non-economic damages is added to economic damages to come up with your entire settlement amount. 

To find out more about how the car settlement process works, speak to your attorney and ask them all of your questions. They can help you understand what to expect once you`ve filed your settlement claim.

Car Accident Settlement Amounts

Motor vehicles can cause devastating amounts of damage when they get into collisions. The passengers in crashing vehicles can hit the doors, dashboard, or get hit with debris like flying glass and metal parts. Because car accidents are so frequent, they`re the main cause of personal injuries and have a higher death rate than other accidents. Around 90 people die every day because of car accidents. After you`ve been in a car accident that was not your fault, you can seek compensation for your damages. The other driver can be held liable for your wounds, along with any property damage that isn`t covered by your insurer. NYC car accident attorneys can calculate car accident settlements based on economic and non-economic damages. 

What Are Factors That Influence The Settlement Amount?

All car accidents are unique, with damages that are based on the severity of the accident. The way a settlement is calculated is based on critical factors that can affect the amount that the other driver owes you in compensation. Here are some factors that can change how much you receive in settlement money:

Catastrophic Injuries 

While you can still be compensated for common injuries such as cuts, bruises, and sprains, you probably won`t receive much. If you experienced a catastrophic injury, you could receive much more compensation. Catastrophic injuries include severe head wounds, spinal cord injuries, amputations, blindness, hearing loss, and other grievous wounds. These injuries can cause a permanent disability and prevent you from living your life normally. Those lifelong damages increase the settlement amount. 

Lost Wages 

If your injuries were so serious that you were unable to work full-time, they can cause lost income that must be compensated for. All the time you miss from work can make you struggle financially. Because you may be unable to return to work for a while or forever, you will need to be compensated for future lost wages. 

Property Damage

Although in many cases, your property damage is covered by your insurance company, it may be so severe that you need additional money. For example, if your car was damaged beyond repair and has to be completely replaced, then you can seek additional compensation from the other party. 

Wrongful Death

In a case of wrongful death, settlement amounts can drastically increase because someone died because of another`s negligence. Additional damages not applicable to other cases are included in a car accident that resulted in wrongful death. For example, lost earning capacity must be included if the wrongful death victim has dependents, which means that the lifetime salary they would have earned should be calculated and included in the settlement. Other damages are funeral and burial fees. Non-economic damages can include loss of consortium, guardianship, mentorship, and other damages that were caused by the loss of a loved one. 

Non-Economic Damages

In addition to economic damages, you may be experiencing non-economic damages due to your wounds. When you`ve been severely injured, you may be struggling with feelings of anxiety, PTSD, depression, grief, and more. These emotions can have a negative impact on your daily life and make it difficult for you to participate in the activities you enjoyed before. The more severe your non-economic damages, the higher the compensation. 

How Is The Settlement Calculated?

Your car accident attorney has experience accurately calculating how much their clients are owed in compensation. Their knowledge of personal injury will give you the best chance at obtaining full compensation for your injuries. They will investigate your claim and all of your medical bills, lost wages, and property damage. The total of non-economic damages is added to economic damages to come up with your entire settlement amount. 

To find out more about how the car settlement process works, speak to your attorney and ask them all of your questions. They can help you understand what to expect once you`ve filed your settlement claim.