If you suffered a car accident that another driver caused, you may be struggling with the physical, emotional, and financial costs. You might also be seeking compensation for these costs and wondering how to calculate your car accident compensation amount. It may not be as simple as adding together the financial and other costs you incurred. Professional help can help a lot.
Below, we offer information about what methods are used for calculating compensation after a car accident and how an attorney can help you understand the process. If you’re ready to explore your legal options, you can reach out to us at the Law Offices of Anidjar & Levine for a free consultation today.
Car Accident Compensation Can Be Challenging to Assess
While some damages can be easy to evaluate, others can be difficult. Expenses with invoices or receipts are already calculated for you, but emotional trauma affects people differently, so it can be hard to put a monetary value on it. Additionally, factors like shared liability should be considered, too, and such factors can affect your claim’s value. To help you make your compensation estimate, you may want an attorney’s help.
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Calculating Economic and Non-Economic Damages for a Compensation Estimate
There are economic and non-economic damages to consider for an estimate. Let’s take a closer look at these damages and some specific examples.
Economic Damages in a Compensation Estimate
These damages can be easy to add to an estimate. You or a lawyer can add up the expenses you were billed for, such as:
- Medical bills (for emergency medical treatment, ongoing care, etc.)
- Lost income (in both the past and future, as well as lost earning potential)
- Lost or damaged property
- Other out-of-pocket expenses related to the incident
Keep your invoices and receipts for these damages so that you or your lawyer can use them to prove your expenses.
Non-Economic Damages in Your Compensation Estimate
These kinds of damages are challenging to add to your estimate because they do not have a financial value, and therefore, are difficult to quantify. It may help you to have an attorney evaluate these damages and add them to your estimate. Non-economic damages may include:
- Pain, suffering, and/or emotional distress
- Reputational damage
- Loss of enjoyment in hobbies or activities
- Loss of the ability to take part in activities
- Worsened prior injuries
- Other incident-related losses
In a wrongful death lawsuit, there may be additional damages, such as loss of consortium and companionship. Such losses can be immeasurable for a person. A wrongful death lawyer from our firm can help you evaluate these losses for your estimate.
How Much Should I Ask for Pain and Suffering From a Car Accident?
There are a few methods lawyers can use to quantify certain non-economic damages, like pain and suffering. Below is a description of each.
The Multiplier Method
The multiplier method is a common method lawyers use for calculating non-economic damages. It involves taking the total amount of your economic damages and multiplying this amount by a certain factor. This factor varies depending on things like:
- Your injuries’ severity
- The effect your injuries have had on your daily life
- The degree of fault the other party has for the incident (and your degree of fault, too)
The Per Diem Method
Some attorneys and insurers use the per diem method, also known as the daily rate method. This method involves coming up with a monetary amount you’ll receive for every day or week that you suffer from your injuries after the incident.
Car Accident Settlement Calculators May Not Be Accurate
These calculators may not be able to collect nearly enough information to give you an accurate estimate. For example, calculators aren’t very good at collecting information about non-economic damages. Additionally, different calculators collect different information, so they may not be accurate and reliable. An attorney can assess your damages and give you a clearer idea of the compensation you could recover.
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Talking to an Insurance Company Can Affect Your Claim and Its Value
Much of what you say to an insurance company can affect your claim and how much recoverable compensation you could receive. Instead of talking with insurers, a lawyer from our firm can manage these communications and preserve your claim.
Call Us Today for a Free Consultation
The Law Offices of Anidjar & Levine serves Florida and residents just like you. Our personal injury lawyers can calculate your car accident compensation amount, factoring in even the most complex non-economic damages. We will take on the other party’s insurance company and fight for your due compensation.
We go above and beyond for our clients, so we’re confident we can help you as we have helped our other clients. Contact us today at 1-800-747-3733. We’ll answer any questions you have about calculating your car accident compensation, and we’ll be able to offer you a free consultation with a member of our legal team.
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