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How Much Compensation Will I Receive for a Car Accident Settlement?

How Much Compensation Will I Receive for a Car Accident Settlement?

The aftermath of a major car accident can be costly. Many people find their finances draining from medical bills and car repairs. If the other driver was partially at fault for the accident, you may not have to pay for these expenses. Learning how to calculate your compensation and filing an accident claim can protect your finances. Start by discussing the accident with a Los Angeles car accident attorney to explore your options.

Calculating How Much Compensation You Need

Adding up the amount of car accident compensation you need is vital for protecting your finances. Taking these steps will help you know what evidence to submit and how much compensation to request. Otherwise, you may not receive the amount of compensation you need in the settlement.

When calculating compensation, start by breaking down the compensatory damages you suffered. There are two main types of compensatory damages associated with car accidents. These can be thought of as objective damages and subjective damages.

Objective compensatory damages are what can be easily measured by monetary amounts. These exact amounts can often be found on paystubs, medical bills, and receipts. Add up any medical expenses and car repairs you paid for or will have to pay for as a result of the accident. Include lost wages from missed work.

Subjective compensatory damages cannot be easily measured in exact amounts because they are not found on documents. What these damages represent is the emotional distress caused by the accident. Pain and suffering, loss of enjoyment, and loss of consortium are some examples. Prove these with witness statements and therapy records.

How Much Compensation Will I Receive for a Car Accident Settlement?

How to Maximize Your Car Accident Compensation

The most common way people fail to maximize their car accident compensation is by accepting the first settlement. You do not have to take the first settlement you are offered by the auto insurance company. Many insurance companies will offer you less compensation than you need.

When it comes to maximizing car accident compensation, the primary way to do this is with evidence. Something as seemingly simple as not having a copy of the police report can be enough to decrease the amount of offered compensation. How soon you sought medical attention may increase or decrease your compensation for medical bills.

Pre-existing injuries from before the car accident might also reduce the amount you are covered for medical costs. The more evidence you have through pictures and documentation of your injuries, the better. Some people benefit from journaling the stages and effects of their injury.

Try contacting a Los Angeles accident lawyer if you have questions. An experienced lawyer can help you maximize your compensation with a strong legal defense.

Car Accident Lawyer in Los Angeles

You do not have to accept the first car accident settlement if the amount fails to cover your expenses. Feel free to contact the Law Offices of Jennie Levin today at (323) 951-1188 to talk to a California personal injury attorney for a free consultation. Our experienced legal team can help you maximize your compensation for lost income, pain and suffering, and medical bills. We can be found in Los Angeles, California.