Auto accidents can be extremely destructive, often leaving you with massive medical expenses and serious injuries that can impact your quality of life. Fortunately, if the accident was caused by the negligence of another driver, a car accident lawyer can help you collect compensatory damages to mitigate both the financial and personal strain of your injuries. Understanding how compensatory damages are calculated is key to achieving a fair outcome.
What Are Compensatory Damages?
The basis of any personal injury claim is special damages or compensation for the actual financial losses you’ve incurred as a result of someone else’s carelessness. Generally, this includes damage to your personal property, hospital bills and other treatment costs, and missed work or lost economic opportunities. Your final settlement should include compensation for the losses you’ve already suffered, as well as any further expenses you’ll have to pay in the future.
Also known as “non-economic damages,” general damages allow victims to recover compensation for how their injuries have impacted their personal life. For instance, you may seek financial compensation for the pain and suffering you’ve endured, depression or other mental health symptoms, and emotional trauma.
How Damages Are Calculated
Calculating the full extent of your losses can be extremely complex, especially if you’ve been seriously injured. In most cases, your car accident attorney will take the full value of your general damages, including any future losses, and multiply that figure by a number between one and five, depending on the severity of your injuries. This forms the basis of negotiations with the insurance company, who will use their own method to calculate the amount of your damages.
For over 20 years, Fitzpatrick, Skemp & Associates, LLC have been fighting for the rights of victims throughout Wisconsin and Minnesota. Our car accident attorneys understand how difficult being hurt by someone else’s negligence can be and will work together to ensure you get the compensation you deserve. Visit us online to see how we can help or call (877) 784-1230 to speak to one of our car accident attorneys today.