When a person files a car accident claim, they may think they will receive a fair settlement to recover their losses. But they won’t know what exactly a fair settlement is. Many people believe a fair settlement is simply about covering car repairs and medical bills. Unfortunately, it’s so much more than that.
A truly fair settlement should take into account every aspect of how your life has been impacted, now and in the future. This includes a broad spectrum of losses, both tangible and intangible, that extend far beyond just the physical damage to your car or the medical bills you can see.
If you’re unsure about how to make sure your settlement is truly fair or if you’re overwhelmed by the process, it would be smart to consult DFW Injury Lawyers for a car accident claim. They ensure that you’re compensated fairly for every aspect of your loss.
Here are six key losses that should be covered in a fair car accident settlement:
Medical Expenses
After an accident, the first thing you’ll probably think about is your health and recovery. You may have required immediate medical attention, such as hospital stays, surgeries, or emergency room visits. But medical expenses don’t stop once you leave the hospital.
A fair settlement should account for all your medical costs. This isn’t limited to what you’ve already paid for but should also include any future treatments or care you may need as a result of the injuries you sustained.
Loss of Income and Future Earning Potential
In addition to your medical expenses, one of the most immediate financial impacts of a car accident is the loss of income. If you had to take time off work for recovery, doctor appointments, or therapy, you might have missed out on wages or bonuses. But the impact on your finances doesn’t stop there.
Some injuries may prevent you from working in the same capacity as you did before the accident or even force you into a completely new career path. A fair settlement should compensate you not just for what you’ve already lost but also for what you may lose in the future.
Property Damage
If your car was damaged or totaled in the accident, you’re probably already thinking about the repair costs or the need to replace the vehicle. This part is straightforward, but there’s more to it than just fixing the car. Don’t forget about all the other property that might have been damaged in the crash, things like your phone, laptop, clothing, or personal belongings in the vehicle.
Pain and Suffering
This is one of the hardest aspects of any car accident claim. You can’t just hand over a bill for the emotional pain you’ve endured or the mental toll of being in an accident. But make no mistake—these damages are just as real as physical injuries.
The pain and suffering from a car accident can range from chronic physical pain to emotional distress, including post-traumatic stress disorder (PTSD), depression, anxiety, or fear of driving again.
Loss of Enjoyment of Life
This is another essential part of a fair settlement. It’s a non-economic damage that speaks to how much your quality of life has been diminished. The settlement should reflect.
- The activities you loved doing before the accident and how your injury prevents you from engaging in them.
- The long-term effects on your emotional and mental health as you deal with the disappointment and frustration of not being able to do what you once enjoyed.
While it’s a subjective measure, this type of compensation is meant to restore a sense of fairness to the emotional impact your injury has caused.
Home Modification Expenses
When you’re recovering from a serious injury, the costs don’t stop with doctor’s visits and prescriptions. You might need modifications to your home or additional care that goes beyond what you initially expected. You might even require long-term care assistance or help with basic activities like bathing, cooking, or cleaning.
For example, if you’re now in a wheelchair, your house may need to be adapted to make it wheelchair accessible. This could mean widening doorways, installing ramps, or even moving to a new home that’s more suited to your needs.
These adjustments can be costly, but a fair settlement should cover the cost of making these necessary changes to your life. For a settlement to be considered fair, it needs to cover all of these and perhaps more.