The Type of Damages You Can Recover After a Car Accident

Car accidents have become a major worldwide problem with thousands of people dying from vehicle crashes each year. Despite reminding people to be extra cautious when driving on the highway, we’ve seen an increase in fatalities over the past five years. As a driver or a car owner, you will be entitled to specific types of financial recoveries and must be aware of the same. These could be compensation for the economic as well as the non-economic damages that are incurred because of the accident. Economic damage could be lost wages or medical bills which can be easily quantified. On the other hand, non-economic damages refer to the loss that cannot be quantified to the exact dollar amount, which includes suffering or mental health issues caused by the crash. When you understand the kind of recoveries you are eligible for, you can handle yourself and your finances better after an accident. We help you understand the types of car damages you can recover if you have been in an accident.

Car accident damages 

A car accident can be a traumatic experience and there could be significant financial repercussions to such an event. Hence, you must know what you should and shouldn’t do after the accident. An understanding of all your options for recovering from this situation is necessary. Victims could be eligible for different types of compensation, including financial damages like medical expenses, property damage, or even funeral expenses whenever applicable.

All forms of compensation are not equal. For example, medical bills can be easily quantified using receipts, but you cannot calculate the non-economic damages since they remain subjective. That said, insurance companies will try to limit the amount paid out and offer a lower settlement amount than what is owed. Hence, speak to a legal expert after the accident to ensure you are compensated fairly.

Besides the physical harm, several victims have suffered higher stress levels and higher instances of depression after the accident. It could lead to further trauma and a requirement for medication or therapy, which will add another expense to your already costly situation.

Knowing which compensation is possible for your situation will help you receive complete coverage for the losses incurred due to a car accident. North Carolinas top car accident lawyer Carl Nagle states, “First and foremost, you will be eligible for economic damages which include medical expenses, lost wages, property damage, funeral expenses, vehicle rental fees, cost of rehabilitation, loss of earning ability, legal fees, and diminished value of property.” Further, non-economic damages include emotional stress, suffering and pain, mental trauma, disfigurement, and loss of reputation.

Wrongful death damages include the loss of future benefits and income, loss of comfort, companionship, or guidance, funeral expenses, mental trauma due to the loss of a loved one, the loss of inheritance due to premature death, and medical bills. Lastly, there are punitive damages which are compensation awarded to the victims where the responsible party has acted with intentional misconduct or negligence. It is an additional punishment for this behavior and will be imposed over and above the other forms of recovery. They will help ensure that similar conduct is avoided in the future and there are times when punitive damages can exceed economic losses incurred by a victim. However, this is an award that is rarely granted, but an expert attorney can help you.

Recovering car accident damages 

The process of recovering damages after a car accident could be overwhelming, especially if the other party is at fault. Hence, working with an experienced attorney who knows how to handle the situation and understands the need for evidence to prove negligence will be able to help you. Choose to work with an attorney who can identify which recoveries might be available to the situation and the best ways to pursue them. They might also be able to assist you with punitive damages. But before you approach the attorney, there are a few steps you must take right after the accident.

Gather as much evidence as you can. It could be in photos, videos, or eyewitness testimony. Then gather the medical records, police reports, and any bills related to the injuries. Based on this, you will be able to establish that the other party should have acted with caution and it will help determine if the party breached this and caused the accident. You can now seek the help of the attorney to calculate the damages incurred because of the accident, including the economic losses and the non-economic losses. They will help identify the punitive damages for acts of negligence and assist in pursuing the recoveries through litigation or negotiation. The right attorney will have expertise, experience, and the client’s best interest throughout the recovery process.