An auto accident can have devastating consequences, leading to physical injuries, prolonged pain and suffering, loss of income, and emotional trauma. When you seek compensation for these injuries and losses, it is essential to understand how damages are calculated. A committed car accident attorney can assess your unique circumstances and accurately calculate the value of your claim to fight for maximum compensation on your behalf.
Factors to Consider While Calculating Economic Damages
Economic damages are the tangible, quantifiable losses that result from a car crash. These include:
- Medical Expenses: Calculating medical costs involves summing up all medical bills, hospital stays, surgeries, prescription medications, physical therapy, and any anticipated future medical expenses related to the accident.
- Lost Wages: If you missed work due to the accident, the total amount of income you would have earned during that time, including bonuses and overtime, is calculated as lost wages.
- Loss of Earning Capacity: In cases where the accident results in long-term or permanent disability, future earning potential may be reduced. Your attorney will consider the difference between your potential earning pre-accident and post-accident.
- Property Damage: This encompasses the repair or replacement costs for damaged vehicles, as well as any personal belongings damaged in the accident.
Types of Non-Economic Damages After a Car Accident in Georgia
Non-economic damages are more challenging to quantify as they relate to intangible losses, including:
- Pain and Suffering: Determining pain and suffering compensation involves assessing the physical pain, emotional distress, and mental anguish you experienced due to the accident. Multipliers, expert opinions, and case precedents may be used by your attorney to calculate these damages.
- Emotional Distress: This includes anxiety, depression, and post-traumatic stress disorder (PTSD) that result from the accident. Expert evaluations and medical records can help establish the extent of emotional distress.
- Loss of Consortium: If the accident affects your ability to provide and receive love, companionship, or sexual intimacy, your spouse may be eligible for compensation for loss of consortium.
Other Types of Available Damages in Georgia for Car Accident Claims
Punitive Damages
In cases of extreme negligence, recklessness, or intentional misconduct by the at-fault party, punitive damages may be awarded. These damages aim to punish the responsible party and deter similar behavior in the future.
Legal Fees and Costs
Legal fees and costs associated with pursuing a claim, including attorney’s fees, court fees, and expert witness fees, can also be included in the calculation.
It is important to work with an experienced personal injury attorney who can assess your specific circumstances, gather evidence, negotiate with insurance companies, and advocate on your behalf to ensure you receive fair compensation for the physical, emotional, and financial losses you have incurred due to the accident.
Skilled Personal Injury Lawyers Can Accurately Calculate Claim Value
Your car accident lawyer will consider several key factors and use established methods to accurately calculate the value of your claim:
-
Reviewing Medical Records:
Attorneys closely examine your medical records to understand the extent of your injuries and the necessary treatments. They consult with medical experts to assess the long-term impact of the injuries on your life.
-
Accounting for Future Damages:
In cases of ongoing medical treatment or permanent disability, attorneys consider future medical expenses, lost wages, and changes in your quality of life. This involves projecting costs and losses over time.
-
Reviewing Insurance Policies:
Your lawyer will analyze the insurance policies involved, including your own insurance coverage and that of the at-fault party. This helps determine the available insurance limits that may cover the damages.
-
Evaluating Liability:
Attorneys assess the liability of all parties involved in the accident. If multiple parties share fault, they determine the percentage of liability for each and how it impacts the claim value.
-
Consulting Precedent Cases:
Your attorney will review past cases with similarities to yours, especially those that have gone to court. They consider the outcomes and settlement amounts of these cases as reference points.
-
Negotiating with Insurers:
Experienced lawyers know how to engage in negotiations with insurance companies, presenting a well-documented claim that supports the calculated damages. They will negotiate for fair compensation on your behalf.
If a satisfactory settlement cannot be reached, seasoned attorneys are prepared to take the claim to court. They will gather evidence, consult with expert witnesses, and build a strong case to present before a judge and jury. By diligently assessing these factors and utilizing their legal knowledge, personal injury attorneys can accurately calculate the claim value in auto accident cases.
Consequences of Not Filing for Adequate Compensation
Accepting a settlement in a personal injury claim is a significant decision, and claimants should be aware that doing so typically comes with legal consequences that may prevent them from seeking further compensation. Insurance companies are infamous for offering a lowball settlement that is far below the actual value of damages. If you accept such an offer without pursuing the compensation you rightfully deserve, you may end up with insufficient funds to cover your financial damages.
Without compensation, you may have to cover all accident-related expenses as out-of-pocket costs, including medical bills, lost wages, and vehicle repairs. Moreover, you will not get fair compensation for your pain and suffering either. This can lead to financial hardship and debt.
Injuries from an auto accident can have long-lasting effects on your physical and mental health. Failing to seek adequate compensation can leave you without the resources needed for ongoing medical treatment, therapy, or rehabilitation.
Get a Free Case Evaluation from Our Seasoned Personal Injury Attorneys
If you have been involved in a car accident and are considering seeking compensation, don’t hesitate to consult with the experienced personal injury attorneys at Fox Injury Law. Our capable and resourceful car accident lawyers are dedicated to helping injured victims maximize their settlement amount. To set up your free and confidential consultation, call (404) 236-6628 or reach us online.
