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Determining the value of your car accident case

On Behalf of | Apr 8, 2022 | Personal Injury |

A motor vehicle collision can take a considerable physical, emotional and financial toll on your life. You may require compensation to recover from the damage to your property and person, as well as the emotional and mental pain and suffering caused by the accident.

The costs associated with a car wreck can be significant, and estimating the value of your claim may prove difficult. Here are some factors that you should consider.

Medical costs

Following an automobile accident, your medical requirements are often one of the biggest factors in determining how much compensation you can receive. You will need to complete your treatment to get a full picture of the impact of the accident on your life and what your future medical expenses could be.

Insurance companies will often offer settlements that are much less than what it will take for you to recover. If you accept such an offer before you have a total understanding of your medical outlook, you may not have what you need to get your life back to normal.

Limits on damages

In Kentucky, you can seek both economic and non-economic damages for a car accident. Economic awards often include compensation for lost wages and past and future medical costs. Noneconomic damages cover pain and suffering and other effects that are difficult to measure.

While there is no limit on the potential financial awards associated with a car crash, there is a statute of limitations for when you can bring a case, usually either one or two years.

While you might need to act quickly to ensure you receive the compensation you deserve, make sure you understand the value of your case before accepting a settlement.