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    Although money won’t make everything better, it can help you get on your feet after being injured in a car crash. After all, you’ll undoubtedly have medical bills and missed time from work as you heal. If no fault of your own caused your accident and subsequent injuries, you should not carry this financial burden. You may be entitled to compensation to cover your various losses.

    Calculating compensation in Fort Lauderdale car accident cases can be difficult, especially when you have no experience with this field or the relevant legal processes. To learn more, contact David I. Fuchs, Injury & Accident Lawyer, P.A. and reach out for a free consultation.

    How Much Is My Car Accident Case Worth?

    There’s no easy way to calculate the exact value of your car wreck case. There are just so many factors to consider for most Fort Lauderdale residents. It typically depends on the facts and how much you’ve personally lost in economic damages, and how much you can prove your non-economic damages are worth.

    What Are Economic Damages?

    Economic damages are those that are easily valued with a monetary amount. They directly correlate with bills, invoices, and other expenses you pay out of pocket or lose out on. Examples are your medical costs, lost wages, property damages, and loss of earning capacity.

    You can also recover past and future economic damages. Future economic compensation is estimated based on the opinions of medical professionals and experts who forecast how much you will need in the future to cover your upcoming economic damages. Examples are your anticipated medical needs, wages you will miss out on, and expected limits on your earning potential.

    What Are Non-Economic Damages?

    Non-economic damages are not as quickly valued. They do not directly relate to money that you lost. However, you can still put a value on them. Examples include your pain and suffering, mental anguish, emotional distress, loss of enjoyment of life, and loss of consortium.

    Some insurance companies use a formula to put a value on non-economic compensation. They may offer you twice as much in non-economic damages as the value of your economic damages. Thus, if you had $100,000 in economic damages, you could recover $200,000 in non-economic damages, and you’d get a total settlement offer of $300,000.

    What Do You Need to Estimate Compensation?

    When calculating your total damages after a car accident, you will need to provide your Fort Lauderdale lawyer with as much detailed information as possible about your injuries and expenses.

    While the following is not a comprehensive list of your losses, it is a good place to start. Once your car accident lawyer gets all of the information that they need to estimate your claim, they can send a demand letter to the insurance company to help you get a complete settlement.

    Vehicle Repair Costs

    When determining how much you can get for property damage, you will have to consider the age and condition of your car at the time of the accident and how much damage it sustained. To estimate repairs, you must have information about the cost of specific parts and labor for a mechanic.

    A certified auto mechanic can give you an estimate of how much money you will need to repair your vehicle.

    Your Medical Expenses

    You are eligible for compensation to cover 100% of your medical costs. That includes everything from your ambulance ride and emergency room treatment to physical therapy for as long as you need it due to your crash injuries. You should keep all medical bills that you receive and recommendations for future medical care.

    Time Away from Work

    You can also get money to repay you for lost wages, PTO time you were forced to use, vacation, and sick pay that you needed after the crash. Additionally, if you can no longer work in the same way you did before the wreck, you can also get money for loss of earning potential.

    To prove these losses, you will need paycheck stubs, statements from your employer, W2s, tax documents, and estimates from vocational experts evaluating how much money you will lose due to disability.

    How Do Insurance Companies Value Car Accident Claims?

    When an insurance adjuster is assigned a car wreck claim, fault or liability has likely already been determined. It’s likely that by the time an adjuster has been assigned, their insured is negligent. The insurance company may be willing to make a settlement offer, but the question is how much they are willing to pay.

    Beware Fast, Low-Ball Offers

    The adjuster will ask about your economic damages, such as medical costs, lost wages, and other monetary losses. They will likely offer 100% of the value of these items in an attempt to get you to settle quickly. However, your Fort Lauderdale attorney can help you calculate the full value of your losses and get compensation for non-economic damages as well.

    Don’t ever take an initial settlement offer from the insurance company. It will likely be a lowball settlement offer that won’t cover all your past and future losses.

    Insurance Settlement Formulas

    Some insurance companies use a formula to calculate non-economic damages and others apply a per diem rate to how long you were injured. If they use a damage formula, they may use the multiplier method and simply pay double what your economic damages were worth.

    However, if they make a per diem offer, they may begin from the date that the collision occurred and determine that the accident negatively affected you for approximately 200 days. They may offer you $100 per day for those 200 days or $20,000 for your non-economic damages.

    Per diem calculations and formulas are not always good for evaluating pain and suffering and other non-economic damages. Your attorney may want to use expert opinions to fully prove how the crash affected you and increase the settlement demand.

    Call an Attorney About Calculating Compensation in Fort Lauderdale Car Accident Cases

    When you are in the process of calculating compensation in a Fort Lauderdale car accident case, you should work with a vehicle collision attorney familiar with the metrics used by insurance companies and how they come up with offers. This ensures you’ll recover everything you deserve and what you’ll need to properly return to the life you knew before the collision.

    The insurance companies will attempt to pay you as little as possible. Working with an experienced lawyer makes you more likely to get a fair outcome.

    With decades of experience and success in local car accident cases like yours, call David I. Fuchs, Injury & Accident Lawyer, P.A. today. Call our use our online contact form to schedule a free consultation.

    Sean Orwin
    Sean Orwin
    March 30, 2022.
    Me. Fuchs was my car accident attorney and was very responsive from the first call. I had medical care the next day and the whole process was smooth. They handled everything with the insurance companies and coordinated all of the necessary medical information. It was a long process and in the end the settlement I received was much higher than anticipated I am more than happy and grateful for the outcome.
    Samantha DiMauro
    Samantha DiMauro
    March 23, 2022.
    David Fuchs was my car accident attorney. He was able to settle my case with little to no trouble and did so in a very professional manner. I would highly recommend him to others.
    Philisha Robinson
    Philisha Robinson
    February 16, 2022.
    Jessica was so helpful throughout the case Thanks guys!!!
    joel rivera
    joel rivera
    February 10, 2022.
    Very good over all service
    Yvette Ware
    Yvette Ware
    January 27, 2022.
    My experience with David Fuchs was awesome, I got a really good return and Jessica was so helpful and worked really hard to get us back a really good return. Thank you David Fuchs and staff for being so helpful and working so hard to help us, you are appreciated.
    Nicholas Gambardella
    Nicholas Gambardella
    December 13, 2021.
    They have a wonderful team. Jessica was very helpful and took care of my well being, very informative about my situation also they were on the ball when it came down to settling...I highly recommend David
    Every day that goes by costs you more.
    Let us help put a stop to that. Contact us today for a free consultation.

    In addition to a free consultation, we’ll help cover the cost of your car repairs and provide you with a rental at no cost to you. We’ll put a hold on your medical bills to stop them from piling up on the kitchen table. And most importantly, we’ll find those at fault for your car accident injury and make them pay for the damages lost. Call a Fort Lauderdale car accident lawyer today to maximize the potential of your case.