Compensation after a Car Accident: How Much Should You Expect? Part 2

Compensation-after-a-Car-Accident-How-Much-Should-You-Expect-Part-2Thanks for checking back with us on our series about car accident compensation. This is a very interesting topic, and if you’ve recently been in a car accident, it’s one that you’re definitely going to want to follow.

In our last post we talked about two different factors that are taken into consideration when you’re in a car accident: loss of income and your medical bills. Those amounts can end up being pretty substantial, and you deserve to be compensated for them after you’ve been a victim in a car accident. Today we’ll talk about a few more factors that go into creating your car accident settlement.

Loss of Earning Potential

Your loss of earning potential is very different from how much money you currently earn. Perhaps you had been hoping to take a new position with your company but because you were in the accident, you’re no longer qualified to take the job. Maybe you have been going to school to study a particular subject, but because you were hurt, there’s no way you’ll ever be able to enter into that field. Accidents are life-changing events and when you lose earning potential, it can affect your entire life. This is a factor many people forget about when they choose to fight their own battles against insurance companies after an accident. In doing so, they could potentially be leaving thousands of dollars on the table.

Pain and Suffering

Perhaps you’ve heard others talk about pain and suffering being a part of their settlements, but you’re not exactly sure what that means or how you place a dollar amount on it. Pain and suffering refers to much more than just the physical effects of a car accident. Yes, there is physical pain, but there are other types of pain that are experienced as well. Emotional trauma after a car accident is a very important thing to consider, and this is going to differ for every victim. It’s quite common for people to experience a considerable amount of fear after they’ve been in an accident. Sleeping problems, worry and grief can also play a part in the pain and suffering category. Many physicians will recommend for car accident victims to talk with a psychologist or even a psychiatrist because they feel anxiety medication would be beneficial. All of these play a significant part in determining pain and suffering, and even when a dollar amount is placed on it, it never undoes the damage that was caused.

When you’ve been in a car accident, your entire life changes. Sometimes you have to change jobs, and sometimes you’re not able to work anymore at all. Understanding what’s involved in your car accident settlement will help you be able to determine a rough estimate of what you can expect to be paid.

Of course, it’s best to talk with a lawyer rather than take on your own case. A qualified lawyer can help you get what you deserve.