One of the most common questions we receive about Lancaster traffic collisions is, “How much is my car accident claim worth?” It’s a fair question, particularly if you’ve already lost a lot of money due to missed work and expensive medical bills.
Unfortunately, the only fair answer to that question is, “It depends.” No two crashes are the same, and the severity of your injuries is just one factor that could affect your claim. That said, there are some general guidelines you can use to estimate your claim’s worth. Plus, an experienced car accident lawyer can fully assess your losses to maximize your potential compensation.
Factors That Affect Your Car Accident Claim Value
Some of the circumstances that can affect your car accident injury claim’s value include:
- Severity of your injuries – Broken bones, head trauma, spinal cord injuries, and other long-term medical conditions often result in larger payouts. This accounts for their higher medical costs, long-term rehabilitation expenses, and lasting effects on your daily life.
- Medical expenses – The total cost of hospital stays, surgeries, medications, physical therapy, and follow-up care will impact your claim. Future medical needs, such as ongoing treatment or assistive devices, can also increase the value of your personal injury case.
- Lost income and reduced earning capacity – If your injuries prevent you from working, either temporarily or permanently, you can include your lost wages in your claim. You can also seek compensation for your lost future earnings if you can no longer make the same income due to a disability.
- Pain and suffering – Your compensation in a car accident claim isn’t just about your medical bills and other tangible losses. If you experience chronic pain, emotional distress, or a reduced quality of life after the accident, you can seek additional compensation for those losses.
- Comparative fault – Under South Carolina law, you can only recover compensation for your injuries from a collision if your percentage of fault isn’t more than 50 percent. If you were partially responsible for the accident, your compensation may be reduced based on your percentage of fault. Insurance companies often argue this point to lower claim amounts.
- Available insurance coverage – The at-fault driver’s insurance limits, along with your own policy’s coverage, will impact how much compensation is available. If the at-fault driver is uninsured or underinsured, you may need to cover some of the costs through your insurance or other sources.
Types of Damages You Can Claim
“Damages” is the legal term for compensation you receive to cover the losses you incur from a crash. Your damages in a personal injury claim from a car accident fall into two major categories: economic and non-economic.
Economic Damages
Economic damages compensate you for your direct financial losses from a car wreck. This category includes compensation for your:
- Medical expenses
- Lost income
- Reduced future earnings
- Other tangible costs
Your receipts, medical records, and other financial documents can help you maximize your economic damages.
Non-Economic Damages
These damages help make up for your intangible, personal losses from a car crash. For example, your non-economic damages can include compensation for your pain and suffering, emotional distress, and lower quality of life due to a collision.
Your non-economic losses are harder to prove than economic losses because they don’t have a known value. Still, an experienced car accident lawyer can help you persuade the insurance companies or the courts. A daily pain journal, accounts from your medical team, and expert witness testimony can all help you form a compelling case for non-economic damages.
How Insurance Companies Calculate Claims
Calculating your economic losses from a Lancaster car crash is pretty straightforward with proper documentation. Your pay stubs and tax records can demonstrate how much income you’ve lost due to missing work, while your doctor bills can help illustrate your medical expenses. An experienced attorney can gather and preserve these documents to help you build a solid claim.
Evaluating your non-economic losses is more difficult, as it’s hard to put a dollar figure on your pain and suffering. The two common methods that insurance companies and lawyers use to calculate your non-economic losses are:
- The multiplier method – With the multiplier method, the total amount of your economic damages is multiplied by a factor, usually between 1.5 and 5. The factor depends on the severity of your injuries.
- The per diem method – The per diem method assigns a daily dollar amount to your pain and suffering, then multiplies that amount by the number of days you are expected to suffer with your injuries. The daily rate is often based on your average daily earnings, though other factors may influence the final calculation. This method is more common when you have a clear timeline for recovering from your car accident injuries.
How a Car Accident Lawyer Can Maximize Your Compensation
After a car accident, dealing with insurance companies and legal paperwork can feel overwhelming. David Blackwell Law can handle every step of your claim, making the process easier for you while fighting on your behalf for maximum compensation. We can gather critical evidence, such as accident reports, medical records, and witness statements, to make a strong case. If the insurance company tries to offer a low car accident settlement, we can negotiate aggressively to help protect your rights.
Beyond handling the legal details, your personal injury lawyer will take on the stress of dealing with insurers so you can focus on healing. Whether through settlement negotiations or a courtroom trial, David Blackwell Law is ready to fight for every dollar you’re owed.
Contact Our Experienced Car Accident Attorney for Help
Don’t let the insurance companies shortchange you after a car accident. With over 20 years of experience representing injured people throughout South Carolina, Attorney David Blackwell understands what you’re going through and can guard your rights throughout the legal process. Our firm has recovered substantial compensation for clients dealing with many kinds of injuries, and we’re proud of our stellar client reviews. Here’s what one client said about their experience with us:
“Getting into an accident is always an unfortunate event but having a great team like this on your side will make a huge difference. I could have never received what I did alone.” – John Coy
Ready to talk with an experienced Lancaster car accident lawyer? Call David Blackwell Law now or complete our contact form for a free consultation.
