How to Calculate a Car Accident Settlement

Being injured in a motor vehicle collision is never easy. Recovering from the physical injuries can be particularly challenging, and trying to secure the compensation you’ll need to cover your losses can be even more difficult. The at-fault party usually isn’t willing to simply hand over the money you believe you’re owed.

Before we bring your claim to the insurance company for negotiations or to court, we will need to calculate the value of your potential car crash settlement. That way, we can fight for a fair and reasonable settlement that will meet your needs.

The Sum of Your Medical Expenses

Probably the most important consideration when calculating the value of a car accident settlement is your medical expenses. You shouldn’t be responsible for paying for a cent of your medical treatment and care when someone else is responsible for your injuries. We will work closely with your physician to ensure that each and every cost is included in our calculations.

Some of the common medical expenses we will consider include your hospital bills, rehabilitative costs, co-pays, diagnostic imaging, ambulance fees, prescription medications, physical therapy, medical equipment, and adjustments to your home to accommodate any new disabilities. It will be critical that we include compensation for any future medical care that relates to the injuries you’ve sustained.

In addition to your medical care, we will be sure to include other economic damages, such as your lost wages, the costs of repairing or replacing your vehicle, and any other property that might’ve been damaged, as well as the damage to your ability to earn an income.

Consideration of Non-Economic Damages

Non-economic damages are those that have an effect on your lifestyle and emotional state. Damages like pain and suffering, loss of enjoyment of life, emotional distress, loss of companionship and love, and the effects of a disfiguring injury will be taken just as seriously as the economic damages discussed above—if not more so.

When you are no longer able to participate in activities that once brought you happiness or are left with clinical depression and debilitating anxiety, these losses can be even more impactful than the financial losses you’ve endured and should be considered accordingly as you calculate your car wreck settlement.

Speak with a Chicago Car Accident Lawyer

Don’t let yourself get taken advantage of. By working with a qualified Chicago car accident lawyer at Lane & Lane, LLC, you can recover with the peace of mind that a team of highly trained professionals is working hard to obtain maximum compensation for your damages. Set up your free claim evaluation today by completing the contact form below or giving our office a call at 312-332-1400.

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