It’s easy to predict some of the costs associated with a car accident, such as time spent away from work, repairs to your vehicle, and medical costs. However, there are all kinds of losses and expenses you might not expect – until the bills arrive.
Unfortunately, serious wrecks are becoming more common. Statistics from a National Highway Traffic Safety Administration report show a 7.7-percent increase in fatal crashes in 2015 – with an estimated 35,200 people losing their lives on the road.
Across the United States, the price tag of those accidents runs into the billions of dollars. In New Mexico alone, car crashes cost about $433 million in economic loss and social harm, according to data from the Centers for Disease Control and Prevention.
Let’s take a look at four factors that influence the value of a settlement or verdict in a personal-injury case:
- Medical Bills
Car accident injuries range from minor lacerations to serious back pain and even brain damage. X-rays, surgeries, rehabilitation – the medical bills can add up quickly. You may be able to cover these expenses in your personal-injury claim.
- Lost Wages
A serious car accident can leave you sitting on the sidelines, unable to work. Some victims can never return to the same profession. Your recovery may provide the funds to pay for past lost wages, future loss of earning capacity, and professional training or vocational school.
- Pain and Suffering
If an accident left you permanently disfigured, scarred or disabled, then you may be entitled to compensation for pain and suffering. A personal-injury lawyer can help you gather evidence to prove that you are entitled to these damages.
- Nature of Your Injury
Did the person who caused your injuries act with gross negligence or malice? If so, then you may be entitled to punitive damages.
Unlike noneconomic and economic damages, punitive damages are not intended to compensate the victim; rather, their purpose is to punish the defendant for egregious behavior.