If you have been hurt because of a careless driver, you may be entitled to compensation. When some car accident victims hear that phrase, they may wonder what it means. Many victims are owed money after an accident so read on to find out more.
What Is Compensation?
In simple terms, compensation is money. In many cases, the driver that caused the accident is insured. Their insurance is responsible for paying compensation to the other driver, who is also known as the victim in the case. Compensation is always based on monetary damages. The more monetary damages a victim incurs, the more compensation they are owed.
What Are Monetary Damages?
Compensation can be broken into several categories and these categories are known as monetary damages. Car accident damages usually include a wrecked vehicle, medical expenses for the victim, lost wages, and pain and suffering. These are common car accident damages, but certain situations could also call for psychological trauma, lack of consortium, and punitive damages. These three forms of damage are not common, but they could apply to your case.
Each form of damage, except pain and suffering, is attached to a dollar amount. However, not all states add the damages up the same way. For example, vehicle damage may be separate in some cases. That means the insurer will cover the wrecked or totaled vehicle even if no other damages are owed to the victim.
If you have missed work because of the accident, you may be entitled to lost wages. Adding up the income you lost, you can arrive at a figure that is associated with lost wages. By the way, include any time you lost that you covered using your paid time off.
Pain and Suffering
This form of damage is unique in several ways. It's not easy to attach a dollar amount to pain and suffering. It's unique also in that it can turn out to be the highest monetary damage of all – even more than medical expenses, and that can be a very high category. The way pain and suffering is calculated varies. Some insurers attach a dollar amount to each day the victim has suffered since the accident. Others may use medical expenses as the main form of damage and that is then multiplied by a factor.
How to Be Paid
Use care when dealing with an accident. Everything you say and do could have unknown consequences. Speak to a personal injury lawyer to find out more.
Contact a law firm like Clark Law Group, PLLC to learn more.
Share19 August 2022
Several years ago. I found myself facing a suit as the result of a traffic accident. Fortunately, a friend knew a great car accident attorney who was willing to take my case. She represented me well and the suit was eventually dismissed. That woke me up to the fact I needed an attorney to call on for other matters. Fortunately, I found a family attorney who could help with everything from creating last wills and testaments to dealing with personal injury cases. Today, I feel prepared to take on any legal issue that could come along. The trick is to choose the right attorney. Keep reading and I'll share how I made decisions that are right for me. Hopefully those same ideas will help you find legal counsel that you can depend on.
