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How Auto Accident Settlements Are Calculated

auto-accident

Auto accident settlements go far beyond the cost of the car (in terms of replacing it), and medical expenses. In fact, there can be plenty of other expenses that people can win over in court, simply from getting in a bad auto wreck. Normally, with a smaller accident, there is not much else to be won, especially if no one was injured. This is because the majority of settlements are based on injury. That all being said, these are some factors in determining how auto accident settlements are calculated.

Medical Expenses

This is pretty self-explanatory, in that normally, settlements include all medical expenses that have already been charged.

Property Damage

This usually means the car that has been destroyed. In many instances, insurance companies try to give less than the full value of the car.

Lost Earnings

In bad auto accidents, people can lose money because of the time they have been out of work. Say for example a person is in the hospital for two weeks, and thy normally make $1,200 a week. That’s $2,400 they lost simply from being in the accident.

Lost Future Income

Say a person is unable to work at a job for a period of time now because they’re injured. Ongoing treatment may keep them out of work, meaning they have lost a good amount of income if they were out for an extended period of time.

Pain and Suffering

These range from emotional suffering, to the pain of being hurt. Generally, the worse the injury, the more payment that can be made.

If you have been involved in a serious car accident, and are looking for an attorney who will get you the maximum amount of compensation, consider Rudnick Law. Our law offices will fight tirelessly for your compensation. Contact our offices today to schedule a consultation.

 

The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney/client relationship. If you are seeking legal advice, please contact our law firm directly.

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