The factors that can impact how much compensation you can recover after a car accident include the extent of your injuries and property damage, whether you sustained a permanent disability, your level of fault, and insurance policy limits.
The Extent of Your Injuries and Property Damage
If there are minor injuries and minimal property damage, the settlement you receive may be lower. Minor injuries may include whiplash and soft tissue damage.
If the injuries are more severe, such as a traumatic brain injury, broken bones, or spinal cord injuries, the settlement amount will be higher to cover the cost of medical expenses, rehab, and the long-term impact the injuries will have on the accident victim’s life.
Whether You Sustained a Permanent Disability
If an accident resulted in permanent disabilities it may result in a higher settlement to compensate for ongoing medical care, loss of earning capacity, and loss of quality of life.
Your Level of Fault
If one party is clearly at fault, their insurance may be responsible for covering the damages. If the accident victim was also partially to blame for the collision, the settlement may be adjusted based on the accident victim’s level of fault.
Insurance Policy Limits
An insurance policy has a coverage limit. If the other driver’s insurance policy has a low limit, it can impact the maximum amount that can be obtained through a settlement.
How Do the Car Accident Lawyers at the Ben Dominguez Law Firm Calculate Damages in Car Accident Cases?
At the Ben Dominguez Law Firm, calculating damages in car crash cases involves an in-depth assessment of economic and non-economic damages to ensure your attorney pursues every penny of compensation you’re entitled to.
Economic Damages
Past and Future Medical Expenses
Compensation for medical expenses may entail past and future medical costs related to the accident, such as hospital stays, surgeries, medications, rehabilitation, and other medical expenses.
Property Damage
You may be entitled to compensation for a damaged or totaled vehicle and other personal property affected by the accident.
Lost Wages
You may be reimbursed for income lost due to time taken off work for medical treatment, recovery, or other accident-related reasons.
Loss of Earning Capacity
If the accident resulted in long-term or permanent injuries that affect your ability to work or force you to switch careers, you may be entitled to compensation for the loss of future earning capacity.
Loss of Future Earnings
If you are unable to ever return to work due to the severity of your injuries, your attorney can pursue compensation for loss of future earnings.
Non-Economic Damages
Pain and Suffering
Pain and suffering damages can compensate you for physical pain, emotional distress, and mental anguish resulting from the accident.
Loss of Consortium
Spouses may be eligible for compensation if the motor vehicle collision caused a loss of companionship, intimacy, or support.
Your attorney will add up your medical bills, pay stubs, vehicle repair estimates, and consult with experts to learn about the value of loss of earning capacity or loss of future wages, to come to the total value of your economic losses.
Calculating Damages
To determine the value of your non-economic losses, your attorney will use the per diem method or the multiplier method.
Multiplier method
Your attorney can use the multiplier method to calculate pain and suffering damages. This method is commonly used by insurance adjusters. To use the multiplier method, your attorney will add up your economic damages and use a multiplier ranging from 15. To 5. 5 represents severe pain and suffering. Your attorney will multiply your total economic damages by the chosen number.
Per diem method.
Using the per diem method, your attorney will assign a dollar value to each day you experienced pain and suffering or the number of days it took you to reach maximum medical improvement (MMI). Your attorney will base the daily dollar value on your daily lost wages.