Earning the fair compensation you deserve after a car accident is more complicated than you may expect. After a serious car accident, the medical expenses alone can be several thousand dollars or more, and that is only a portion of the expenses from an accident. When you are negotiating for the compensation you need, you should know what your case is worth. There are three primary categories of compensation that you should consider before entering negotiations:
Economic damages
This area of compensation is the easiest to track as it relates to any tangible expense that came from your accident. Current and future medical expenses, lost income, property damage, medical equipment, relocation, and renovation costs are all typical examples of these expenses.
Non-economic damages
Compensation should also cover the damages that money cannot replace. Suppose an injury causes a victim to lose their ability to enjoy a hobby, enjoy life experiences, or experience tremendous pain and suffering. In that case, the party responsible for the accident should also be responsible for paying the victim compensation for these losses.
Punitive damages
In addition to a responsible party covering the costs of their actions, they should also receive punishment for causing the accident in the first place. Punitive damages function as a fine against the liable party and send a message to others about the consequences of reckless or negligent behavior.
Maximize your compensation
After an accident, insurance companies may move quickly to offer you a settlement for your injuries, and hope that you do not recognize a lowball settlement offer when you see one. Thankfully, with the help of an experienced personal injury attorney, you can negotiate for the compensation you deserve. With so many forms of accident compensation, it is important to ensure that you get the settlement you need to cover the costs of your injury.
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