How Much Is My Injury From A Car Accident Worth?
Putting a dollar amount on an injury sustained in a car accident is challenging. Trying to determine the true physical, financial, and emotional costs of car accident damages requires the counsel of personal injury attorneys who are well-versed in handling these types of claims. For more than 35 years, the team at Moore Law Firm has helped personal injury victims put an accurate value on car accident damages and recover the full amount of compensation they deserve.
How Are Car Accident Damages Calculated?
There is no set formula for calculating damages for an injury sustained in a car accident that was someone else’s fault. There are many different factors that personal injury lawyers take into account when figuring out what a claim is worth.
Quantifiable Economic Costs
Economic losses associated with car accident injuries vary from case to case. If you’ve suffered a catastrophic injury that requires extensive ongoing medical care and leaves you unable to work, the amount of damages you can recover will be greater than if you suffered a minor injury. For example, if you or a loved one is paralyzed in a collision, economic damages may include:
- Medical bills
- Lost wages
- Cost of rehabilitation services
- Home modification costs
- Domestic service costs, such as housekeeping, childcare, lawn care, and other tasks you used to perform
- Ongoing nursing care
- Property damage to your vehicle
- Other accident and injury-related costs
Even though determining these amounts may seem straightforward, calculating future costs of these damages is difficult. Many attorneys work with economists and other experts who specialize in estimating the costs of specific treatments, medications, and interventions that may be required, depending on the type of injury. Where you live, your age, and your general health prior to the accident are also taken into consideration.
To calculate future loss of earnings, a variety of factors are considered. Your age, income before the accident, prospects for advancement, and the number of years you would have reasonably been expected to work if you hadn’t been injured are just a few elements that may be taken into account.
Non-Economic Car Accident Damages
Financial losses are just one piece of the puzzle when calculating total damages in a car accident claim. Your lawyer will evaluate the ways your injury has affected your life in less tangible ways. The greater the impact your injury has on your life and general well-being, the more your claim will be worth.
The value of non-economic car accident damages is highly subjective, which makes them much more challenging to calculate. An experienced personal injury lawyer should be able to come up with a general range, but they often consult experts when calculating non-economic damages as well. Some of the most important elements that can affect the amount of non-economic damages you may recover include the severity and nature of your injury and the likelihood that you’ll make a full recovery.
Non-economic damages that may be included when calculating the amount of your claim include:
- Pain and suffering
- Mental anguish
- Emotional distress
- Diminished quality of life
- Loss of companionship and consortium with a spouse or partner
- Disfigurement and scarring
It’s also important to understand that Alabama is a contributory negligence state. This means if you’re responsible for causing or contributing to an accident or your injury, you cannot recover any compensation from other involved parties.
Insurance Policy Limits Affect How Much Your Claim Is Worth
Auto insurance coverage plays a major role in how much you may be able to recover in car accident damages. For example, if your attorney determines that your claim is worth $100,000 dollars but the negligent party who caused an accident has an insurance policy with a limit of $50,000, that is the maximum you can recover from their insurer. If a negligent driver has minimal insurance but a substantial amount of assets, you may be able to bring a lawsuit against them to cover more of your damages.
The minimum insurance requirements for Alabama drivers are:
- Bodily Injury Liability: $25,000 per person and $50,000 per accident
- Property Damage Liability: $25,000
These minimal amounts may not even cover all your medical costs, let alone additional car accident damages. That’s why it’s always a good idea to carry adequate amounts of collision, comprehensive medical payment coverage and uninsured motorist coverage on your own auto insurance policy. Trucking companies and other commercial entities typically have much higher insurance limit amounts, which can enable you to obtain maximum compensation to cover all your car accident damages.
Contact A Mobile Personal Injury Lawyer To Learn More
Trying to determine how much car accident damages are worth can be confusing. At Moore Law Firm, our personal injury lawyers can evaluate your case and advise you of all your options. To schedule a consultation with one of our attorneys, contact us online, call us at 251-445-7602, or use the convenient chat feature on our website.