What Compensation Can You Receive After a Car Accident?

Anyone can be involved in a car accident. A serious car accident can lead to pain, injury, and loss of earnings. It can be very traumatic for those who experience it. You can be left feeling alone and unsure of what to do about the situation you have found yourself in after an accident. How can I get help? What should I do?

At Schlacter Law, we help those who have experienced the effects of car accidents. We are here to help you.

Types of Compensation After a Car Accident

Following a serious car accident, you might be entitled to claim different types of compensation.

Cost of Medical Bills

Medical bills from an injury that has occurred following a serious car accident can grow quickly. How do you find the money to pay for these necessary expenses? We, at Schlacter Law, fight hard for your rights. 

You are entitled to compensation to cover these unforeseen medical costs to help ease your worries after such a traumatic experience.

Loss of Income

After sustaining an injury that has resulted from a car accident, you may be unable to attend your place of work for some time and find yourself unable to carry out your usual duties. You can be compensated for any loss of income from such a situation. You can also be compensated for any employee benefits that you would have usually received had you been able to attend your usual job.

Pain and Suffering

If you have received an injury after a car accident, you could be in a lot of pain. Would you wish to be pain-free, healthy, and back to your old self? How much would this be worth to you?

You can receive compensation for any pain and suffering you have had to endure following your accident. 

Property Loss

It is not only physical injury and pain that can be caused by a car accident. You may have lost items that are valuable or valuable to you. Your car is probably damaged. You may have had items with you whilst you were traveling that you need for work.

Compensation could be given for your property if it was damaged in a car accident, just as for your own physical damage.

Loss of Earning Capacity

In your usual day-to-day job at work, you may have aspired to a higher position within the business or company that employs you. If you suffer a serious injury as a result of a car accident, you may no longer be able to carry out the duties of a higher position. This is the loss of earning capacity.

It can also be the case that you have an injury that prevents you from finding work easily. Maybe your mobility has been affected? This is also a loss of earning capacity, and you can receive compensation for this as well as the other types listed above.

How Do Insurance Companies and Lawyers Calculate the Value of a Claim?

Insurance companies and accident lawyers use different methods to calculate how much compensation a claimant, such as yourself, is due.

The Multiplier Method

This method of calculating the value of a compensation claim takes into account ongoing costs, such as medical bills and loss of wages, and multiplies that subtotal by how many months or years that kind of cost is likely to continue. 

The multiplier number is higher for more serious injuries that take longer to heal. The total of the costs multiplied by how long these costs will be likely to be endured gives the insurer the value of a compensation claim.

However, this multiplier method does not take into account emotional and psychological effects. It has been criticized for not doing this. 

The Per Diem Method

This method of calculating the compensation value takes into account all of the above, but it arrives at a daily value of what the car accident has cost you. 

Why Hire a Car Accident Lawyer?

After being involved in a car accident, you need someone to help you. You also need that person to be able to bring you relief from the rising costs of medical bills, loss, and pain.

At  https://www.schlacterlaw.com/car-accidents/, we fight to get you the highest compensation amount possible. We work tirelessly gathering photographs, video evidence, statements from the accident, and we speak to the insurance company for you to minimize any extra pain and suffering that this may cause you.

We fight for you!