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November 27, 2020

How to Calculate a Car Accident Settlement

A car accident is an expensive ordeal, and figuring out how much you’ll get back in a settlement is difficult. Our legal team at Greenstein & Milbauer, LLP is ready to help you calculate the potential value of your car accident settlement.

Two Types of Damages

Damages are hardships you have faced as a result of your car accident. They can be broken down into two primary categories: non-economic and economic. To calculate the value of a car accident settlement, you will need to determine the value of each damage you’ve encountered as a result of your crash.

Economic Damages

These losses are relatively simple to quantify. Current and ongoing medical expenses, immediate and long-term lost income, property damage, disability accommodations, and any out-of-pocket costs are economic damages. If your accident wasn’t your fault, you should be eligible for full compensation for all of your economic damages.

Non-Economic Damages

Non-economic damages are those that are hard to quantify, such as pain and suffering, emotional distress, and changes in daily life. A qualified and experienced car crash lawyer will know how to assign a monetary value to these non-financial damages to maximize your compensation.

What Can Change Potential Settlements?

You can lose compensation if you were partially at fault for your accident. New York follows a comparative fault rule that allows you to seek damages despite being partially to blame, but your compensation will be reduced by the same percentage as that blame. If you win $100,000 but are 10 percent at fault for your crash, you’ll get 10 percent less—$90,000.

Get in Touch with a Car Accident Lawyer Who Can Help

To start the process of determining exactly what your car accident claim is really worth, schedule a free, no-obligation case evaluation with a New York car accident lawyer from Greenstein & Milbauer, LLP. Call us at 1-800-VICTIM2 (842-8462) or complete the form below.