How Much to Expect from a Car Accident Settlement
After a car accident, chances are you are dealing with a lot of stress.
Not only do you need to focus on recovering from injuries, but you might be unable to work. Many people call our office to tell us that they feel overwhelmed and stressed about finances.
Because accidents are expensive, it is perfectly normal that people wonder how much to expect from a car accident settlement. The amount you can receive will depend on the facts of your case. That may seem vague, so our experienced Denver car accident attorneys will break things down in this post.
Calculate Your Economic Expenses
If you’ve incurred medical bills and missed work, you are in a financial hole that is not your fault. In a car accident settlement, you can be reimbursed for money spent on medical care and property damage. You can also receive compensation for lost wages or lost income.
These are considered “hard” economic losses.
Understanding Car Accident Settlement Amounts and Averages
In addition to receiving compensation for the economic losses listed above, an injured motorist can also receive money for pain and suffering, emotional distress, and disfigurement. For example, someone who has suffered a bad burn on her face is clearly owed more money than just her medical bills and lost wages. The embarrassment and pain she feels also deserves compensation for a disfiguring injury.
However, intangible losses like pain, emotional distress, and disfigurement are harder to calculate. A lot depends on the skill and experience of your lawyer, as well as how thoroughly you document your distress. These differences partially account for why some car accident victims receive much more in compensation than others.
Identify Limitations on Your Financial Recovery
A couple of things can reduce the amount of money you receive in a car accident settlement.
Car accidents, settlements, or lawsuits can result in different dollar amounts based on who is at fault in an accident. For example, the figure may change if you were partially at fault, the defendant was partially at fault, and/or another person not a party to the lawsuit was partially at fault for the accident. Therefore, it is important that you contact an experienced car accident lawyer who can assist you with these complex issues.
The at-fault driver’s insurance policy does not cover your full losses. The driver might only have $25,000 in bodily injury liability insurance, but your injuries are worth $50,000. In this case, you might make a claim with your own underinsured motorist insurer, if you have that coverage. You will need to sue the driver regardless.
Discuss Your Case with a Denver Car Accident Attorney Today
There are so many factors that go into calculating a fair and just settlement, and this article has only scratched the surface. You should speak with one of our legal experts so you can better understand how much compensation you deserve.
We offer free, confidential case reviews.