Car Accident Case: How Is The Value Calculated?

Accidents happen every day all over the USA, and because they are unpredictable, they can leave people with significant physical and financial challenges. These unanticipated negative events sometimes necessitate the filing of a car accident case to obtain monetary compensation and avoid debt as a result of medical bills, lost wages, or funeral expenses resulting from an accident.

A competent personal injury attorney in Baton Rouge, LA can assist you in determining which method will be used in your car accident case. You could secure a much larger settlement amount with the help of a lawyer than you would without one!

Let’s dive into the methods of calculating the value of a car accident case.

What Kind Of Damages Can I Claim In A Car Accident In Baton Rouge, LA?

Car accident injuries and damages can be costly for victims of car accidents. Attorneys can assist you in obtaining economic, non-economic, and, in rare cases, punitive damages. Let’s see how they differ:

Economic Damages

You may be entitled to monetary compensation for wage loss, medical bills, and property damage in your car accident case. Your wage loss will include any income you could not receive because you were unable to work due to your car accident injuries. This will also include future income loss if you expect to be out of work for several weeks or months as a result of your injuries.

If you require repeat treatments, your medical bills may mount up over time. Your injuries may necessitate physical therapy, surgery, or other ongoing medical care. This can also be included in your settlement. Your insurance may not cover all of your property damage after an accident. This means you can demand the same amount from the other party.

In a wrongful death case, economic damages would also include burial and funeral expenses.

Non-Economic Damages

Non-economic damages are primarily comprised of pain and suffering. This is determined by the amount of emotional pain you have endured, such as guilt, shame, depression, anxiety, PTSD, and other issues. Before arriving at a total settlement amount, your attorney will apply a multiplier based on the severity of your injuries as well as your pain and suffering.

If there was a wrongful death, the surviving family members may suffer as a result of loss of consortium and other non-economic damages.

Punitive Damages

If you believe the other party was grossly negligent, you may be able to seek punitive damages. For example, they may have engaged in road rage, driven recklessly on the road to harm you, or for other reasons.

Here’s How Baton Rouge Car Accident Lawyers Calculate Pain And Suffering

According to the Legal Information Institute, the term “pain and suffering” refers to all non-monetary damages, including the loss of pleasure in life.

As you proceed with your car accident case, you and your lawyer can use one of several processes to determine the value of your pain and suffering.

The Multiplier Method

The “multiplier method” is a popular approach that your attorney may use to calculate your pain and suffering in a car accident case. This method computes all of your monetary losses as a result of your injury. Then multiply the total by a certain rate to get the total for your desired pain and suffering settlement. The multiplier method involves adding up the actual damages and multiplying the total by a number between 1.5 and five. The multiplier (the number by which you multiply) indicates the level or degree of your pain and suffering.

For example, if you suffered severe injuries, such as long-term disability, your pain and suffering multiplier would be close to five. The higher the multiplier used to assign a monetary value to your mental anguish and emotional distress, the more severe the injuries.

The Daily Rate Method

The “daily rate method, also called the “per diem” method, can also be used to calculate pain and suffering.

You and your lawyer must first determine your daily living expenses or earnings. Once this figure is determined, it is multiplied by the number of days your life has been disrupted by the accident.

Here’s an illustration: A car accident injured you. Your full-time salary was $15 per hour (40 hours a week.) That means you were previously paid $120 per day. If it takes 90 days to settle your claim and finish all of your physical therapy, you could be compensated for your pain and suffering with $10,800.

$120 x 90 = $10,800

In Baton Rouge, LA, the daily rate method is the most commonly used method for calculating pain and suffering. Some judges may prefer to calculate pain and suffering in months rather than days.

Please keep in mind that your daily rate may decrease as time passes. It’s critical to act quickly and file your claim!

Jurisprudential Method

The jurisprudential method is based entirely on the comparison. When using the jurisprudential method, a lawyer, judge, or jury searches for precedents or similar cases from the past. These previous cases are then used to calculate the value of your current car accident case.

Assume someone was in a car accident in Louisiana in 2017 and suffered injuries similar to yours. If that victim filed a claim and was awarded $60,000 in pain and suffering damages, your lawyer would argue that you, too, are entitled to $60,000 in pain and suffering damages, plus inflation.

An injury case can have the following 5 types of compensation:

  • Funeral expenses in the event of a wrongful death claim.
  • Loss of the deceased’s care and companionship in a wrongful death claim.
  • Medical expenses. Our Baton Rouge car accident lawyer will examine your medical bills and consult with experts and medical professionals to determine the future value of medical expenses and costs. The value of future medical expenses can sometimes exceed the value of current medical expenses.
  • Wages lost: It is critical to consider both future and past lost wages, as with medical expenses.
  • Suffering and pain: Pain and suffering damages compensate you for your injuries’ pain, suffering, and losses. While these are some of the more subjective claims that will be considered in recovery, they are crucial.

Evidence Of Pain And Suffering

How do you establish pain and suffering damages? Keep in mind that everything must be supported by evidence. A lawyer can assist you in keeping track of everything, gathering important evidence, and presenting persuasive evidence, such as:

  • Photographs of the accident
  • Photographs of your injuries, bruises, and scars
  • Medical records, x-rays, and bills
  • Notes or testimonies from doctors
  • Witness testimony from family and friends

Summary: Factors Determining The Value Of A Car Accident Case Settlement

  • A car accident claim’s value is affected by several factors
  • The injuries sustained
  • The treatment required
  • Additional medical expenses
  • Lost income and time away from work
  • If injuries are long-term or cause permanent disabilities
  • The damage to the vehicle
  • The role each driver played in causing the crash
  • The facts of the accident
  • Your recoverable damages in this type of case could include:
  • Medical expenses
  • Lost income and diminished earning capacity
  • Property damage (including damage to your vehicle)
  • Miscellaneous expenses
  • Pain and suffering and other noneconomic losses

Reach Out To A Qualified Personal Injury Attorney In Baton Rouge, LA From Our Legal Group For Legal Assistance

You need a competent and reliable personal injury attorney in Baton Rouge, LA on your side if you are to claim a fair settlement for your losses in a car accident. At The Accident Lawyers Louisiana Legal Group, our Baton Rouge car accident lawyers will do all things possible to prove the negligence of the liable party and fight for your rightful compensation.

Contact us right now for a free first consultation and legal action!