After a car accident, on top of losing your primary mode of transportation, you might also struggle with medical bills piling up and financial struggles from missing work.
Because every car accident is different, and multiple factors determine a settlement amount, it’s nearly impossible to come up with typical car accident settlement amounts.
Are you wondering, how much money do you get from a car accident settlement?
Below, the Waco car accident lawyers at The Zimmerman Law Firm go over the factors that go into car accident settlements in Texas.
Damages Available After a Car Accident
When a lawyer talks about a settlement amount, they’re talking about the damages you sustained after a car accident.
The purpose of calculating damages is to reimburse the car accident victim for whatever amount the damages add up to that are directly related to the accident.
That amount is the settlement amount. Damages might include medical expenses, property damage, lost wages, loss of earning capacity, and other out-of-pocket expenses that depend on the specific facts of a case.
Additionally, a car accident victim could recover compensation for the emotional and psychological impact of the accident.
These damages could be pain and suffering, mental anguish, loss of consortium, disfigurement, and loss of enjoyment of life.
These damages are more complicated, but a car accident attorney will help determine if they apply to your case.
How Typical Car Accident Settlement Amounts Are Calculated
When lawyers add up the damages related to a car accident, they look at various factors.
First, they look at the severity and cost of medical treatment relating to the accident, including past and future medical bills, medication, and rehabilitation costs (like physical therapy). They also analyze the vehicle’s value and other property damaged in the accident.
Then, they look at the insurance coverage available. The insurance policies of both parties determine what funds are available to compensate you.
For example, if the other driver was uninsured, and you don’t have uninsured motorist coverage, coverage may not be available to reimburse you for your damages.
When coverage is available, your lawyer will add to the calculation the physical and emotional pain you endured, generally known as “pain and suffering.”
Your attorney will look at the disabling nature of your injuries, the long-term effects, and their impact on daily life.
On the other hand, if you contributed to the accident, your settlement amount could be decreased.
Texas law states that if an injured party shares some fault for the accident, a jury or insurance company must reduce the settlement amount proportionate to each party’s assigned percentage of fault.
The question becomes, What is an appropriate percentage of fault to assign to each party?
Hiring an attorney is crucial if an insurance company claims you are partially at fault. They could assign the wrong percentage and unnecessarily decrease your compensation.
Personal Injury Attorneys at the Zimmerman Law Firm
The experienced injury attorneys at The Zimmerman Law Firm are familiar with these factors and can help calculate your settlement amount.