Auto Accident Settlement Formula

Have you been in a car accident, and are wondering what a personal injury lawsuit might be worth for you? With the right personal injury lawyer or auto accidents attorney, you will be able to build a case that argues for every aspect of your accident and injuries, and puts a fair dollar amount to each. There is a lot more than requesting reimbursement for your medical bills in a complete personal injury lawsuit.

Companies like 1-800 INJURED work with people who have suffered from personal injuries and connect them with the right personal injury lawyer in Fort Lauderdale for their situation. If you are using a service like theirs, you can be confident in your choice of attorney without doing the extensive research that finding one on your own requires.

Once you begin to work with an attorney, you will be able to fine-tune the damages you are entitled to, but take a look below for a general idea of how to calculate a basic settlement amount.

Economic Damages

Economic damages refer to any damages you seek to cover purely-financial costs. Basically, anything that has a bill, receipt, or invoice attached to it, or has a “true” dollar cost. Keep in mind that your auto insurance company has the first rights to repayment, meaning that when you collect damages on things your insurance covered, you will not be able to keep those damages. Learn more about insurance at Marketreview.com/insurance/life/. Some examples are:

Medical Bills

This includes anything from copays, medical procedures, doctors visits, ambulance rides, and anything else related to medical expenses.

Surgery Costs

In some cases, your surgery costs will be in addition to your normal medical costs, and will be included as well.

Recovery Expenses

If you have to undertake physical therapy sessions, buy things like crutches, wheelchairs, or anything else related to your recovery, these will be included.

Lost Wages

Any time you have missed from work as a result of your injuries will be included in the damages you seek, as well. This also includes any PTO or sick time you have needed to use in order to cover your missed work, meaning you are able to use your PTO and sick time, and then be paid out for it.

Diminished Earning Capacity

If you are unfortunately unable to return to your former line of work, an experienced workers compensation lawyer will calculate your long-term loss of income as part of the damages you are owed.

Long-Term Disability

If your injuries will be long-term or permanent, this is another factor that will be included in the amount you are seeking, and a good lawyer will be able to paint this picture clearly.

Non-Economic Damages

Non-economic damages refer to anything that does not have a “true” dollar cost to it, but it equally important and impactful after your injury.

Your attorney will factor in all of the non-economic damages and assign them a “multiplier” to your economic damages. The multiplier is a good way to indicate the extent of these parts of your injury without needing to assign an actual dollar amount to abstract things like pain, or depression.

Pain and Suffering

Your injuries go beyond the invoices of your medical procedures, and your attorney will be sure to represent this.

Loss of Enjoyment

If your injuries keep you from pursuing the hobbies and interests you love, then you will be able to factor this in as well.