How Much is a Car Accident Worth?

car accident worthCar Accident Worth

According to the Texas Department of Transportation (TXDOT), 249,241 persons were injured in motor vehicle traffic crashes in 2018. There were 12,161 serious injury crashes with 14,908 people sustaining a serious injury. Unfortunately, 3,639 people died from these motor vehicle crashes. The Centers for Disease Control and Prevention (CDC) reports the total cost of motor vehicle crashes in Texas amounts to nearly $5 billion per year, which only includes medical costs and work loss costs.

In 2013 the average settlement for car accidents was $24,000 per case. However, many factors need to be considered when determining how much your car accident is worth. Your car accident damages could certainly be higher than $24,000 or less. With the help of an experienced attorney or an online accident settlement calculator, you can determine your car accident’s value. The following damages can also help assist you in determining your car accident’s worth.

Medical Bills

Your medical bills for past and future medical treatment including surgeries, pain management, physical therapy, prescriptions, doctor’s visits, medical assistance devices, etc. related to your motor vehicle accident is one of the most certain ways to determine your car accident worth. You should provide your attorney any documentation regarding medical bills or medical services you have received or will receive as a result of your personal injuries. Often, your attorney will want you to provide consent for medical document recovery. This will allow your attorney to request documentation from your medical provider(s) on your behalf.

Lost Wages

A motor vehicle accident can result in injuries that cause you to miss work. If you missed work because of your injuries, you may recover lost wages you would have earned. Lost wage damages can be calculated by presenting a tax return or pay stub to your attorney and written confirmation from your employer for how much time you missed. These damages can also be included in your car accident worth.

Property Damage

Damage to your vehicle can also be used to calculate your total damages from a motor vehicle accident. Contact your insurance company as well as an independent mechanic to determine the correct amount of property damage. You should then provide this information to your attorney.

Pain and Suffering

Pain and suffering are the most uncertain damages awarded in a motor vehicle accident case. These damages include any past and future pain and suffering you have or will experience because of your motor vehicle accident. Often, your medical bills and lost wages will be used to determine your pain and suffering damages. Texas generally uses a “multiplier” to calculate your pain and suffering. The multiplier is a number between 1 and 5 (5 for the most severe injuries) to determine the severity of your injuries. That number is then multiplied by your medical costs and/or lost wages to determine your pain and suffering damages. Any past or future physical, mental, or emotional limitations may be consider when calculating your pain and suffering damages and determining your car accident worth.

Loss of Earning Capacity

Your motor vehicle accident injuries can be so severe that you are unable to perform similar work prior to your injury and you therefore cannot earn as much as you previously did. These damages are called lost earning capacity damages.

Loss of Enjoyment

Loss of enjoyment damages arise when your injuries prevent you from enjoying your hobbies, parental enjoyment, or day-to-day enjoyment. These damages may be difficult to determine because it is not certain how to value a person’s enjoyment, but they can be added to your car accident worth. Consult your attorney to determine these damages.

Loss of Consortium

Loss of consortium damages usually involve the impact the injuries have on the victim’s relationship with his or her spouse, such as the loss of companionship or the inability to maintain a sexual relationship. These damages can be included in your car accident worth. Consult your attorney to determine these damages.

Your Contribution to the Motor Vehicle Accident

Defendants in your motor vehicle accident case will attempt to argue that you contributed to your personal injuries. The defense will do this to limit their liability and limit your recoverable damages. If it is determined that you contributed to your motor vehicle accident, the court may not award you any damages. Texas follows the modified comparative negligence rule when determining damages of a victim who contributed to his or her own personal injuries. Modified comparative negligence means that if the jury determines that the victim was 51% or more responsible for his or her motor vehicle accident, then the victim will not recover any damages.

Damage Mitigation

In Texas, victims in a motor vehicle accident case must take reasonable steps to minimize the financial losses caused by their personal injuries. Personal injury victims must use an ordinary standard of care, and act as an ordinary prudent person would have under the same or similar circumstances. Non-mitigated damages are not recoverable.

Legal Representation

The correct legal representation can determine car accident worth. It is important to choose an experienced car, motorcycle, work truck, commercial truck, or 18-wheeler attorney to handle your case. With over 35 years of experience handling motor vehicle accident cases, Stolmeier Law can help you receive maximum compensation. If you or a loved one has been seriously injured in a motor vehicle accident, Call Stolmeier Law.