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How much is a catastrophic car crash worth?

On Behalf of | Mar 8, 2023 | Personal Injury |

If you are unsure of the amount of compensation you should expect for the harm or losses suffered after an accident, you are not alone. Not everyone understands how car accident claims work and what they are entitled to in settlement for their damages.

The truth is that you can’t exactly tell the amount that you can recover after an accident. Several factors may come into play. Broadly put, the more serious your injuries, the more the compensation.

Your damages will determine the value of your claim

The economic and non-economic effects of the injuries on your life otherwise referred to as damages will help put a figure to your car accident claim. These include medical bills, lost wages, reduced quality of life, physical pain and suffering. Usually, your damages are dependent on the severity of your injuries.

Each party’s degree of contribution to the accident matters

Your level of fault for the accident will reduce the compensation due under Georgia’s negligence laws. You will only recover a portion of the settlement awarded, depending on your degree of contribution.

Other factors that may come into play

The insurance cover of the party at fault may also affect the recoverable damages, given that policy limits may apply. If the negligent party has insufficient insurance coverage and limited assets, it may be impossible to get full compensation.

It is also worth noting that a court may award punitive damages, although it largely depends on the facts and circumstances of the accident.

Protect your interests after a car crash

Life after an accident may never be the same, and compensation will go a long way in helping you adjust and cope with things. Therefore, it is advisable to get the necessary help when filing a car accident claim to safeguard your interests and help maximize the potential settlement.