How to Calculate Car Accident Settlement Amounts

How to Calculate Minor Car Accident Settlement Amounts

At THE702FIRM Injury Attorneys, we know that a car accident can be a major pain. Even a fender bender can leave you with uncomfortable injuries and other financial losses. The good news is you could receive compensation through a car accident settlement with the at-fault driver’s insurance company.

But how will you know what a fair deal looks like? Knowing how to calculate a car accident settlement can help you identify whether the insurance company makes a valid offer. Call or contact us today for a free consultation with an experienced car accident lawyer to learn more.

Visit a Nearby Car Accident Attorney

What to Know When Calculating Your Car Accident Settlement

As you calculate how much your Las Vegas car accident settlement could be worth, keep the following considerations in mind:Car Accident Statistics in Nevada

  • Your medical expenses will likely make up the largest chunk of your compensation, and complications can arise on the road to recovery. You may need to wait for your injuries to heal before you can calculate a reasonable settlement.
  • Settlement agreements are final. You can’t go back and ask for more money later, so it’s essential to get it right the first time. Initial settlement offers are typically significantly lower than the actual value of your case. An attorney can help you negotiate aggressively for fair compensation.
  • Tax obligations are an important factor in settlement agreements and can impact how much money ends up in your pocket. A lawyer can help you structure your settlement in a way that reduces your overall tax burden.

How to Estimate the Value of Your Car Accident Settlement

Who is at Fault in Car Accidents?Any money you receive in a car accident settlement should compensate you for personal and financial losses related to the collision. In a car accident with injuries, you can estimate the potential value of your case by adding up the following crash-related losses:

  • The costs of reasonable and necessary medical care for your injuries
  • Any out-of-pocket costs you incurred, such as costs of transportation to and from medical appointments
  • Repair or replacement costs for any vehicle damage
  • The value of lost income, if you missed work as you healed

An experienced car accident lawyer can also help you calculate the value of less tangible losses from the crash, such as pain and suffering.

Types of Injuries to Include in Your Settlement Calculations

What happens if you get in a car accident while in an Uber or Lyft?As you calculate your potential car accident settlement, you should include the personal and financial costs associated with the following types of injuries:

  • Head injuries and traumatic brain injuries (TBIs)
  • Neck and back injuries
  • Arm, leg, hand, and foot injuries
  • Facial and dental injuries
  • Soft tissue strains, sprains, and tears
  • Seat belt injuries
  • Road rash and burn injuries
  • Abdominal injuries and internal bleeding
  • Dislocated or broken bones
  • Cuts and bruises
  • Post-traumatic stress and other emotional injuries

How a Las Vegas Car Accident Lawyer Can Help

After a Las Vegas car accident, a personal injury lawyer can help you by:

  • Discussing your legal options for pursuing compensation
  • Calculating a fair and reasonable estimate for your injury claim
  • Explaining how car accident settlements are paid out
  • Conducting an independent investigation of the accident
  • Collecting evidence from the crash scene, including witness statements
  • Representing you during settlement negotiations and court hearings as needed

Get Your Free Consultation Today

In the aftermath of a car accident in Las Vegas, THE702FIRM Injury Attorneys are here to help. Contact us today to learn your legal options in a free initial consultation.

An accident can change your life in an instant. When your life turns upside down, you need a strong advocate on your side. Speak to THE702FIRM Injury Attorneys. Our personal injury law firm helps accident victims in Las Vegas pursue the compensation they deserve for their injuries.