Have you been injured in a car accident? If so, you may be wondering who will pay for your medical bills for the accident? Who will pay you for being out of work due to your injuries? Who pays for the person you had to hire to do lawn work because you could not? In an automobile accident, the insurance company of the at-fault driver typically pays for these costs.
How Is the Value of My Automobile Accident Claim Calculated?
The value of an automobile accident is calculated based on economic and non-economic damages. Because each accident is different, the value of your claim may vary greatly from the value of another person’s claim.
If you have been injured in a car crash caused by another driver, you may be entitled to receive compensation for economic losses such as:
- Past and future medical expenses
- Past and future lost wages
- Loss of earning capacity
- Property damage
- Rental car fees
- Reimbursement for out-of-pocket expenses related to the accident
Economic damages are actual dollar amounts — the total expenses and losses you incurred due to the injuries you sustained in the automobile accident. However, economic damages are only a portion of the value of your claim. Your non-economic losses often represent a substantial portion of your claim.
What Are Non-Economic Losses?
Non-economic losses are much more difficult to calculate because this type of loss does not have a “bill” or “invoice.” Non-economic losses include:
- Physical pain and suffering
- Mental and emotional anguish
- Loss of enjoyment of life
- Permanent disability
- Scarring and disfigurement
- Loss of companionship and guidance
No amount of money will sufficiently compensate you for this type of loss because a monetary award cannot “undo” what has already been done. The only means the law is can compensate an accident victim for non-economic loss is through a monetary judgment. There is no specific calculation courts use to determine the amount of non-economic damages. An experienced attorney understands how to value your claim based on the severity of your injuries and the facts surrounding the accident.
Do I Need a Personal Injury Attorney for My Car Accident?
Hiring an experienced personal injury attorney to represent you in your accident claim is essential to maximize the amount of compensation you receive for your claim. The laws regarding automobile accidents and insurance in Louisiana can be confusing. You need an attorney with expertise in handling this type of personal injury claim to ensure that you receive a fair and just settlement for your damages.
The auto accident attorneys at the Law Offices of Matt & Allen have the experience and knowledge required to value accident claims to ensure their clients receive a fair and just settlement for their claim. When you are suffering from the financial, physical, and emotional damages caused by an automobile accident, you need someone in your corner who will fight for your rights and protect your interests while you focus on your recovery. Contact our office to schedule a free consultation to discuss how we can help you and your family.