If you suffered severe injuries after a car accident, you are likely facing substantial financial stressors as well. Significant medical bills can lead to extensive debt if you cannot afford them. If a negligent party caused the crash, you could hold them liable for your resulting expenses and losses. However, several factors could affect the amount of compensation you can pursue in Maryland. An experienced car accident lawyer can explain the process of calculating settlement values and how the state’s laws can impact the total amount of compensation you could receive. Let’s go over how car accident settlements are calculated.
What to Know About Calculating Your Settlement
Compensation may be determined by adding up monetary losses, including medical expenses and lost wages. The value also includes more complicated losses to consider, such as pain and suffering. The difference between physical and mental pain involves:
- Physical pain and suffering: refers to bodily injuries sustained in a car accident. It includes the injuries you have experienced so far and any future pain you’re likely to endure.
- Mental pain and suffering: refers to the impact a physical injury has on your quality of life. It includes mental distress, anxiety, depression, post-traumatic stress disorder, and lost enjoyment of life.
How to Estimate the Value of Your Settlement
It is best to consult an experienced car accident attorney for a reasonable estimation of what your case is worth. Your lawyer will include all of your relevant expenses in your claim. This provides a more realistic picture of what you may be able to recover.
Some types of compensation to consider when estimating the value of your claim include:
- Current and future medical bills
- Prescription and medical device costs
- Rehabilitation and therapy expenses
- Lost wages and diminished working capacity
- Property damage
- Temporary or permanent disability
- Pain and suffering
Keep in mind that car accident settlements are complicated, and insurance companies will do everything in their power to minimize their liability. Insurance companies will often try lessen the value of your claim from the beginning, especially if you do not hire an attorney familiar with car accident cases. That is why it is essential to hire an experienced car accident attorney immediately following a serious accident. The skilled attorneys at Snyder Law Group are ready to help you. Reach out to us today to learn more.
Contact The Snyder Law Group Today
The Snyder Law Group, LLC, proudly represents clients throughout Maryland and Washington, D.C. Our experienced Baltimore attorneys understand the frustration that comes with an insurance company, medical professional, or other party that refuses to accept liability for negligent or reckless behavior. You can take heart in knowing there are talented and experienced lawyers ready to work for you. We are experienced in handling personal injury claims of medical malpractice or injury resulting from serious car and truck accidents, and have secured hundreds of millions in verdicts and settlements. Please visit our website, www.410thefirm.com, or call us at 410-843-3476, for more information. Follow us on Facebook, Twitter, and LinkedIn.