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December 12, 2019

How Much Is My Dallas Car Accident Claim Worth?

Individuals who have been seriously injured in Dallas auto wrecks may be thinking about what their next steps should be. How are you going to get the at-fault party to pay? Do you need to call the insurance company? How much are you entitled to receive for your damages, injuries, and inconvenience? 

Settlements for car accident claims have a wide range of value due to the fact that auto accidents can happen for a number of different reasons, and every injury is different. 

However, the way that the value of a Dallas car accident claim is calculated will usually be the same, and many individuals experience the same types of losses. With this in mind, we have described the varying types of economic and non-economic damages and how we quantify these losses below.

A Review of Your Financial Losses

Generally speaking, you can calculate your claim’s worth by taking an inventory of your financial losses. This might include any lost wages, medical expenses, and vehicle repairs or the cost of replacing your vehicle, and lost earning capacity if applicable. 

These are also known as economic damages and are relatively simple to quantify, as these losses already have a monetary value. The same cannot be said for non-economic damages.

Quantifying Non-Monetary Damages You Endured

The losses you suffered that do not have a monetary value attached are known as non-economic damages. Despite the fact that they are non-monetary, they are often more impactful on injury victims’ lives and should therefore be considered as such. Some of the most commonly sought non-economic damages include the following: 

Your attorney may quantify these losses on a per diem basis or based on an impairment rating that is multiplied by your total economic losses—whichever is most likely to yield the most favorable result in your case.

Work with a Car Accident Lawyer in Dallas

When you are ready to take control of your life following a collision, but you are unsure of how to hold the liable party to account, get help from an experienced Dallas car accident lawyer at Crain Lewis Brogdon, LLP. You can give our office a call at 214-522-9404 or fill out the quick contact form we have included at the bottom of this page to schedule your free, no-obligation consultation.