How to Calculate a Car Accident Settlement

After you’re in a car accident, a settlement can give you the financial help you need to get back on your feet. But calculating a car accident settlement value can be complicated.

Without the help of an attorney, you may find yourself struggling to solve any number of issues with your settlement. Florida laws, injury, damage to property, and fault are all important factors, and they can feel overwhelming after an accident. We’re here to help.

Factors That Affect Your Settlement

Deciding on the value of your car crash settlement is not as simple as calculating the value of your damaged car and your injuries.

First, you must contact the insurance company to report the accident. An accident report may be filed, and the insurance company should provide an estimate of your financial damage for your vehicle.

Insurance will be a major factor in your settlement. Florida is a no-fault insurance state that requires personal injury protection and property damage liability, which protects you if you are in an accident, regardless of fault.

This protection, however, may not cover all of your expenses. If you suffer severe injuries, you may be able to file for further damages, depending on your case. These damages, however, must be more than the insurance company will cover.

Your Damages

After a car accident, your first considerations for damages are likely your car and your medical expenses—these will likely be the most urgent. But you could include many other damages in your car accident settlement value.

Below is a sample of the possible damages for which you could be compensated:

  • Future Medical Expenses – If you expect to continue treatment or therapy, these expenses could be covered in your settlement.
  • Emotional Distress – Stress from trauma can manifest into issues like post-traumatic stress disorder, which can greatly affect your life. You can be compensated for many damages like this.
  • Lost Wages – If you are out of work or can no longer work due to your injury, your car accident settlement could include the wages you should have received.

When determining the value of your settlement, understanding how much your damages are actually worth can be complicated. Having someone on your side can make all the difference.

We Can Calculate Your Car Accident Settlement

If you’ve been in an accident, you want to make things easy on yourself and get the best settlement possible. With the help of our West Palm Beach car accident attorneys at the Law Offices of Casey D. Shomo, you can maximize your compensation.

Not sure where to start with your claim? Give us a call at 561-659-6366 or fill out the online contact form below. We’re here to make getting your car accident settlement simpler.