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How Much Money Can You Recover from a Car Accident?

how-much-money-can-you-recover-from-a-car-accidentIf you’ve been injured in a car accident, chances are you have a multitude of expenses piling up. From medical bills to property damage to lost income from missed time at work, there are many factors that contribute to your financial hardship. There really isn’t a set formula to determine how much money you can recover from a car accident. Each case is completely different. However, if you are asking how much money can you recover from a car accident, the following information will provide a good starting point to help you make an estimate.

How Much Money Can You Recover from a Car Accident?

Determining a dollar amount you can recover from a car accident can be very hard. There are a number of different types of damages for which you can recover money. To help provide guidance, here are the major things to consider after your accident:

Medical and property damages are easy to calculate, but determining the proper amount to recover for pain and suffering is always hard. That is where a good personal injury lawyer comes into play. There is difficulty in determining how much you should receive for your pain and suffering and your inability to enjoy life because those things are very hard to quantify. The insurance company for the other party involved in the accident will try to prove that your pain and suffering isn’t as bad as you claim. Your lawyer will argue your case in court and help you recover the maximum amount.

Injuries from a car accident can linger for a long time period, and as a result, physical limitations can be worse than what you originally thought. It’s important to have help from a lawyer to make sure you recover the maximum amount of damages from a car accident. You should also check out this article about what to do if you are injured in a car accident to make sure you handle everything properly.

Here is more information about the primary types of damages to help you answer your question of how much money can you recover from a car accident:

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Medical Expenses After A Car Accident

Payments for medical expenses are always involved in any personal injury case, including a car accident. You should be reimbursed for all the money you spent on medical treatment to deal with your injuries. This includes treatment you already received and future treatment for your ongoing pain. Do not forget that your pain may get worse with time and you might need even more treatment down the road. So you will want to recover as much as possible for medical expenses to cover all current and future payments. See a doctor as soon as possible to find out the extent of your injuries.

Loss of Income After A Car Accident

If your injury causes you to miss time from work, you should be be repaid for the loss of income. Again, like medical treatment, you need to take the future into account. Think about the value you provide to your company and your current and potential future earning capacity in your field of work. You need to recover compensation for the money you would have gotten in the future had you not been hurt in the first place. So if you were on the verge of receiving a promotion and a large salary raise and your injury prevents it from happening, you may be able to recover much more money from your loss of income.

Pain and Suffering After A Car Accident

If your injuries have lingered or gotten worse since the time of your car accident, you need to be compensated for this ongoing discomfort. You are entitled to compensation for this, and all physical problems that can be traced back to your accident. Determining the amount of money for pain and suffering is difficult and it is something that is argued heavily in a lawsuit. The more pain and suffering you are able to prove you have, the more money you can receive. A good personal injury lawyer will help you maximize the recovery from pain and suffering.

Emotional Distress After A Car Accident

If you were involved in a serious accident, you may be experiencing the psychological effects that go along with a major injury. Examples of psychological problems that can occur are ongoing fear, anxiety, nightmares, and sleep loss. You should talk to a lawyer and ask what your state’s policy is on damages from emotional distress after a car accident. Your state might allow you to claim a larger amount of money for emotional distress because of ongoing psychological symptoms.

Loss of Consortium After A Car Accident

Loss of consortium refers to the payments you receive from losing a close family member, such as a spouse, in a serious accident. A loss of consortium claim will be brought with your primary injury claim or a wrongful death claim. Losing someone close to you obviously causes you a lot of hardship, so it is often another means for recovering money to compensate you for the loss. You may be entitled to compensation for the loss of this relationship if it is either a family relationship or a sexual relationship. You will want to talk to a lawyer and find out exactly how your state awards loss of consortium.

Loss of Enjoyment After A Car Accident

Loss of enjoyment is a claim for payment based on the alterations you had to make to your lifestyle as a result of your accident. In other words, you are entitled to money from not being able to enjoy your regular life routine. Your lifestyle cannot be measured by an exact dollar amount. It is purely speculative and the amount will vary from person to person and case to case. Because of this, the amount of money you can claim for loss of enjoyment will be unique and much like pain and suffering, you will want a good lawyer to help you argue for as much money as possible.

Property Loss After A Car Accident

You are entitled to payment of the dollar amount for all your property that was damaged in your accident. For example, you would be entitled to payment for the damage done to your car and any belongings that were inside your car after a car accident. This amount will be the difference between the pre-accident fair market value and the post-accident salvage value of those items. Also, you are entitled to be reimbursed for the cost of any attempt to repair your damaged property if it cannot be claimed as a total loss.

Punitive Damages After A Car Accident

Punitive damages are rarely awarded, but they can allow you to receive substantial amounts of money, sometimes in the millions. You can only bring forward a claim for punitive damages on top of your personal injury claim if the person who caused the injury was acting outrageously careless. Punitive damages are awarded if the court wants to prevent the defendant from acting that way in the future. Discuss the details of the accident with a lawyer to determine if punitive damages might be an option.

Adding Up All the Damages

The amount you will recover in your car accident case will be a unique dollar figure depending on the facts of your case.

To estimate how much you can recover from a car accident, first add up all the definite expenses that you have already paid or that you expect to pay in the future, such as payments for medical treatment and property damage.

Then consider whether there may be ongoing medical treatments from injuries, pain and suffering, and emotional distress. If so, you will be able to recover additional money for those things.

Next, think about whether anyone you had a close relationship was lost in the accident, which can entitle you to significantly more money .

And finally, if the person that caused the accident was extremely careless, you may even be able to claim punitive damages and recover a large financial award.

Those are all the things to be aware of in estimating your financial recovery from a car accident. The exact payment you are entitled to will be very difficult to calculate and unless you are a lawyer, you probably cannot do it accurately by yourself. So if you are asking how much money can you recover from a car accident, you should get help from a lawyer to find out how much your case is really worth, and whether it’s a good idea to file a claim against the other party.

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