Estimating How Much Your Car Accident Settlement Will Be

If you’ve been in a car accident and are expecting a settlement, you’ll most likely want to figure out how much the settlement will be. Besides being curious, you want to make sure you’re being compensated fairly for what your case is worth. But is there even a way to estimate your car accident settlement?

Luckily, the answer is yes. While there are some online calculators you can use, they aren’t always accurate. Instead, you’d be better off looking at your economic damage as a whole. And if you ever want the most accurate answers about your case, contact a trusted attorney for personalized answers. 

If you’ve been injured by the negligence of another, you could hire any auto wreck lawyer in Katy, TX, or you can hire a good auto collision attorney in West Houston. Joe Stephens has been defending injury victims in Texas for over 3 decades from negligent individuals, companies, and greedy insurance companies. As an experienced car accident law firm in Katy, TX, Joe handles all cases personally, and his staff is always available to answer questions.

How Much Should You Expect From Your Car Accident Claim?

When it comes to accurately calculating how much you should expect from your car accident, you first need to make a list of your quantifiable economic damages. You can use things like invoices, receipts, or other tangible evidence to prove your case. So, how much should you expect from your car accident? Let’s take a look at a few things to consider: 

Property Damage 

In this case, property damage refers to the amount of damage done to your vehicle. If you take your car to a repair shop and they can fix it, then that estimate will be equal to the amount of your property damage. 

If your vehicle cannot be repaired and it is a total loss, then you can figure out this amount by determining the replacement value or the total loss value of your car. You can also add on any other property that was damaged during the accident at this stage. 

Lost Wages 

Being injured as a result of an accident and not being able to work can result in lost wages. Lost wages can also be calculated by adding up the time taken off of work for things like doctor’s appointments or physical therapy. Essentially, you are trying to prove that you lost income due to the accident. 

If your injuries are very serious and result in a permanent disability, an attorney can also calculate how much you would have earned over your working life had you not gotten injured. This, in particular, is difficult to add up using an online calculator since it will need to be very specific. 

Medical Expenses 

Medical expenses often take up a large portion of car accident settlements. Even if your injuries are minor, you may still need to visit the doctor several times. However, a lot can be included under this category: medical devices, physical therapy, diagnostic tests, medications, surgeries, doctor visits, and emergency treatments. 

Additional surgery or other treatments that occurred after the initial accident may also be included if they can be tied to your initial injuries. 

Non-Economic Damages 

Lastly, non-economic damages need to be calculated. These are much more difficult to calculate since they can’t be easily added up through traditional financial records. These damages are also subjective, so the amount may vary depending on who is asked to evaluate them. 

This is where things like compensation for pain and suffering enter the equation. To make the process easier, most insurance companies use a multiplier to determine the amount. This multiplier usually ranges from one to five and is determined by the severity of the damage. 

If You or a Loved One Have Been Injured in a Car Wreck In Texas, Call Auto Accident Attorney Joe Stephens Now.

When you hire a lawyer to represent you, your attorney is responsible for examining all of these variables and figuring out how they will impact your case. If you want the best compensation for your case, contact the Stephens Law Firm. We can provide a free consultation, and we’ll work hard to get you the settlement you deserve. 

The Stephens Law Firm, Car Accident Lawyers handles auto accident lawsuits across Texas, including these Houston cities.