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How Much is My Car Accident Claim Worth?

If you were involved in a serious car accident, damages can be a major concern. You may have several question, such as “Will I get enough money to pay medical bills and buy a new car?”

There is no magic formula that can easily determine how much money you will get. Car crashes can vary widely, depending on the amount and severity of damages involved. Minor accidents may only be worth a couple thousand dollars. A serious accident requiring lifelong medical care can cost you millions of dollars.

How much is your accident worth? It will vary based on the circumstances of your case. Read on to learn more about valuing your case.

How to Value Your Claim

Your car insurance company may use a formula called Baldyga Auto Accident Settlement Evaluation (BASE) to determine how much your claim is worth. This formula includes lost income, car repairs, use of a rental car, personal injuries and medical treatment. However, it does not do a good job of calculate emotional damages or any punitive damages, if applicable.

Lawyers tend to use a different type of settlement calculator that assesses your claim more accurately and gives you a true value of what your case is worth. It takes pain and suffering, loss of enjoyment of life and other emotional damages into consideration.

Think about your current and expected levels of pain and suffering, how much more medical treatment you will need and the quality of your life. These are all factors that can have an impact on the value of your claim.

Kentucky is one of a few states that has no cap on both economic and noneconomic damages. Therefore, there is no limit to how much money you could potentially receive in a verdict.

Involved in a Car Accident in Kentucky?

A car accident may involve serious injuries. You could suffer broken bones, head trauma, paralysis, disability and other major physical injuries. It’s important to properly assess your damages to so you can obtain the highest amount of financial compensation possible.

The attorneys at Harville Law Offices, PLLC can value your case and help you recover compensation for your damages. If you have questions about your rights and would like to discuss your options, contact our Louisville office at (502) 245-2333 or contact us online to schedule a free consultation.