How Much Compensation Should You Get For a Car Accident?

When it comes to car accidents, one cannot avoid them irrespective of the experience and precautions. When you get into a car accident due to someone else’s negligence, it is important to understand how car accident claims work. Before jumping to a conclusion about how much compensation you will be getting, the first question is understanding eligibility. This is where an experienced New Jersey Personal Injury Lawyer can help you in going through the details of your case and let you know about your eligibility.

Once you are eligible, you can proceed to filing for a claim. Let us take a closer look at how much compensation you should be getting.

Is there a fixed compensation amount after a car accident?

No. Car accident claims vary from one case to another. The damages and injuries incurred by the victim also vary, which is why victims cannot expect a fixed amount. Various factors come into play when deciding the compensation amount. However, your lawyer can come up with an approximate figure that will help you understand how much to expect. But note here that they cannot guarantee nor can anyone bet on the amount you will be getting.

What will affect the compensation amount?

Once you file for a claim, the insurance company will investigate your case thoroughly. They will examine the accident, injuries you sustained, and damages you incurred. Some of the important factors that directly affect the compensation amount include:

  • Injuries you have sustained. All the medical expenses, including medications, therapies, and future medical assistant charges, will be included in this. Additionally, traveling or commuting costs to the hospital back and forth will also be included.
  • Property damage. This includes the damages you have got to your car. Vehicle damage can be understood with a mechanic or the cost you had to pay to get it repaired following the accident.
  • Loss of income. Lost wages play a vital role. The days you missed work due to your injuries are also included and added to your compensation. In addition to the older ones, your future lost wages will also be included. Furthermore, in cases where the victim cannot work further, the compensation for lost wages will hold significant weight.
  • Emotional distress and pain. This is yet another factor that will affect the compensation amount.
  • Evidence submitted. Ultimately, your evidence needs to be strong enough to convince the insurance company about your injuries and damages. Although they conduct their own investigation, you should make sure to submit solid evidence which cannot be overlooked.

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