How to Calculate a Car Accident Settlement

If you’ve been involved in an auto collision, you know just how damaging car accidents can be. Between repairs for your vehicle and medical care for any injuries you suffered, it can be difficult to manage the financial struggles that follow crashes.

But if the collision wasn’t your fault, there’s no reason you should have to cover these costs. You always have the option of filing a claim against the liable driver, but to do that, you need to know how to calculate a car accident settlement.

Our team at Greenstein & Milbauer, LLP understands that this process may be confusing for those who are unfamiliar with it. To assist, we’ve highlighted the important factors to consider when putting together your claim.

Property Damage

Even the most minor accidents can lead to costly repair bills. A fender-bender can cost you thousands in repairs. As such, if your vehicle sustained any type of damage, whether it was a busted headlight or a complete loss, include the estimated cost of your repairs in your car accident settlement calculations.

Medical Costs

Immediately after your crash, you should have gotten a medical evaluation. If you were injured and required care as a result, any of the expenses you had to pay for can be included in your settlement. Additionally, get a professional estimate of what it will cost you to continue getting care in the future, and include this in your settlement.

Wages

If your injuries were severe enough that they necessitated time away from work, the wages you lost should be included as part of what you’re seeking from the liable party. Additionally, if your injuries are expected to impact your ability to maintain a steady career and earn income in the future, your loss of earning capacity can be included in your car accident settlement.

Intangible Losses

Finally, have your attorney calculate the value of your non-economic damages. These are more difficult to determine because they don’t have a set monetary value in the same way other damages do. Instead, they’re estimated figures meant to compensate you for intangible losses in your life, such as pain and suffering, mental anguish, loss of consortium, or loss of household services.

Contact a Lawyer at Greenstein & Milbauer, LLP

If you’re not sure how to maximize the value of your car accident settlement, our team at Greenstein & Milbauer, LLP is here for you. We want to make sure you get the best settlement possible, and we would be happy to offer our services. We’ll fight hard to make sure the liable party is held responsible and the insurance company cooperates with you.

If you’re ready to get started on your claim, get in touch with us today. You can request an initial consultation by using the contact form below or calling us directly at 1-800-VICTIM2 (842-8462).