If you were involved in an automobile accident that was not your fault and you suffered damages, either to your vehicle, your person or even your mental wellbeing, you are entitled to a monetary settlement. While the insurance company of the offending party will most likely offer you a cash settlement amount early on, you should consider carefully before accepting it. A personal injury attorney may be able to get you a larger settlement to offset damages both now and in the future.
When you file a personal injury claim, you are essentially asking the defendant (or their insurance company) to pay for damages, including compensation of medical expenses for your injuries, vehicle damage, loss of income, and personal pain and suffering. Personal injury cases are often settled out of court, and most never make it to trial.
Whether you go to court or not, there are certain compensatory damages that you may be entitled to:
- Current and ongoing medical expenses related to the accident
- Lost wages if you had to miss work
- Lost future earnings if you are partially or totally disabled from the accident
- Pain and suffering
- Vehicle damage
Compensatory Damages from a Lawsuit
If your personal injury case does go to trial, a judge or jury will first determine who was at fault. They may determine that both you and the defendant were partially liable, or there may be a third party who shares the blame. Once fault is determined, the extent of your losses will be calculated. Your medical expenses, vehicle damage and lost wages will be relatively easy to determine. Pain and suffering are more difficult to associate with a concrete dollar amount.
During your settlement hearing, the judge and/or jury will consider the following variables:
- Medical bills related to your injury
- Projected future medical bills if your injuries require ongoing care
- The amount of income you lost to date due to the accident
- The projected loss of future income
- Your degree of partial or total disability
- Emotional and mental stress from the accident, including anxiety, PTSD and other issues
Compensatory Damages from an Insurance Settlement
As an alternative to going to court, your lawyer may negotiate a settlement with the offending party’s insurance company. You may receive a lump sum settlement, or separate settlement amounts for different damages.
Individual damages for which you may be compensated include:
- Cash value of your car at the time of the accident If your vehicle is “totaled,” meaning it is too damaged to be repaired. The amount may be less that what it costs to replace your vehicle with a similar one. If you have an outstanding loan balance on your car, it may exceed the car’s value at the time of the accident, and you will still have to pay it off.
- Medical bills, lost wages and other miscellaneous losses fall under the umbrella of “special damages.”
- Pain and suffering you experienced as a result of the accident fall under the category of “inconvenience” or “general damage.”
Easing Your Burden While You Wait
Whether you settle with the insurance company or go to trial, getting a final settlement amount can take weeks, months or even years. Meanwhile, you still have regular expenses like your rent or mortgage, utilities, credit card bills and general cost of living expenses.
You don’t need to suffer more than you already have by worrying about money. Cronus can give you a cash advance to tide you over while you wait for your case to settle. The application process is easy, and you will have the money you need in a matter of days. Contact Cronus today, and let us take the financial pressure off your shoulders while you wait for the settlement you deserve.