How to Calculate Your Car Accident Recovery Amount

When you get injured in a car accident, the last thing you want to think about is how to calculate the amount you will likely recover from the insurance company. With injuries comes pain and medication to dull that pain, which often means your brain has other things to concentrate on. That is why you should contact a car accident lawyer to handle the details of your personal injury claim. However, if you are curious, here are a few of the many factors that can influence your monetary settlement regarding a car accident with injuries.

Medical Costs

The total amount of your medical bills is included in this category. Add the total of money insurance paid or any costs that were written off in some way.

Lost Wages

Add the amount of money you missed from work because of your pain, including days missed because of medical appointments.

Property Damages

Include the estimated dollar amount required to fix your vehicle, plus what money insurance paid to make the vehicle whole.

Future Treatments

Estimate the cost of all future medical treatment for your injuries, including medication, physical therapy, operations, MRIs, and doctor visits.

Magic Multiplier

The above amount will be multiplied by a number between 1.5 and 5, based solely on the seriousness and longevity of your injuries. The more serious the bodily damage is, the higher the multiplier will be. The total will result in your general damages.

Economic Costs

This is a special category that can be added to include your economic losses. Expenses can include rehabilitation costs, medical device rentals, and ongoing lifelong treatment expected charges.

Pain Damages

This is a difficult category to put a number on because it uses a formula unique to the situation. It can include the number of days associated with life-altering pain, the estimated time you will experience the pain, and harm to your mental and emotional well-being because of the pain you have endured. Some jurisdictions also include a “nuisance settlement” award because of anxiety, emotional distress, and other incalculable costs.

The total amount of all the above calculations will give you an estimate of what your total settlement will be. The truth is, no matter what amount you come up with, it is often about how well your car accident lawyer, like a car accident lawyer in Kansas City, MO, can negotiate and how experienced he or she is at the settlement dance of words and numbers. However, the above information will give you a general idea of what he or she can ask for.

Thanks to Royce Injury Attorneys, LLC for their insight into how to estimate your car accident recovery amount.

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