Accidents can be among the most traumatic experiences a person can go through. A single moment of negligence can change the course of an entire life in the blink of an eye due to someone’s single moment of carelessness.
It can lead to a lifetime’s worth of financial, physical, and emotional hardships. The path to recovery can often be long and hard, and the financial strain of walking it can be painful, expensive, and draining, bringing a sense of cold hopelessness that only seems to grow with each passing day.
In such a situation, you should know you have options to help you overcome the difficulties. It’s especially important if you weren’t at fault for the accident. There are ways to obtain car accident compensation! One of these options is to seek the guidance of a proficient accident lawyer. They can provide critical legal advice and guide you through the complex process of seeking compensation. An experienced accident lawyer is adept at building strong cases and negotiating with insurance companies, and they can represent your best interests in court if necessary. This legal support can significantly ease your burden, allowing you to focus more on your recovery. And it’s crucial to understand the different types of compensation that you can receive. But first, you need to understand what car accident compensation is.
What Is Car Accident Compensation & Its Types?
The purpose of car accident compensation is to reimburse the financial costs incurred after a vehicular accident.
Types of Car Accident Compensation (based on a claim)
- Economic
- Non-Economic
The car accident compensation includes economic damage compensation such as tangible losses. Here, tangible losses include medical expenses, property damage, etc.
The car accident compensation also includes compensation for non-economic damage, i.e., for non-tangible losses. Examples include mental trauma, anxiety, depression, and so on.
Remember: At-fault party also receives punitive, but ultimately, these facts depend on the case.
How can I Receive Economic Damage Compensation After a Car Accident?
Here are 3 steps to receive economic damage compensation after a car accident.
Step 1: Gather Evidence
You need to gather evidence of monetary losses to apply for economic damage compensation. These losses incur from the accident. Often these shreds of evidence include:
- Medical bills
- Car repair bills
- Other expenses (related to car and self)
Step 2: Assess Your Income Loss
After you’ve gathered all the monetary losses, the next step is to find out how much financial income loss did you incur from this accident.
Step 3: Get an Attorney
If the accident is huge, you can further hire an attorney. An attorney can effectively get economic damage compensation on your behalf. They can also file a claim with your and the faulty party’s insurance company.
If a claim gets denied, you can sue the responsible party. So consulting and talking with a professional attorney is a must. They can elaborately explain your situation and give you instructions on how to proceed further.
Filing a Non-economic Damage Claim
At this point, you might already know what a non-economic damage claim means. However, a non-economic damage claim means that if you suffer from a car accident and it causes you emotional and mental stress, the at-fault party is liable to pay you.
Since mental and emotional stress is unquantifiable and immeasurable, it can be difficult to calculate the severity of the damage. However, just like with economic damage claims, to file a non-economic damage claim after an accident, you must provide evidence of the emotional and psychological impact of the accident on your life.
Evidence can be considered proof of seeking psychological counseling, such as medical records and reports from mental health professionals, documentation of missed work, or other related financial losses.
You must coordinate and work with an experienced personal injury attorney who can build a strong case and negotiate with the insurance company or the liable party’s legal team to reach a fair and just settlement.
What is the Cost of Damages Covered by Insurance?
Depending on the severity of the accident and the injuries you sustained, the repair or replacement bills and the medical bills can reach hundreds and even thousands of dollars.
While insuring your car is to receive a financial safety net to fall back on, because of the nature of the risks associated with such accidents, insurance companies may not always be on your side.
Liability insurance should compensate you for any property damage or personal injuries that you cause. Comprehensive insurance covers vehicle damage caused by unexpected events, such as falling branches or hitting an animal. Collision coverage protects your vehicle against a collision with another vehicle.
Comprehensive and collision coverage for other losses or damage to your car, such as car theft, hail damage, and vehicular vandalism.
Can you Claim Compensation as a Passenger?
Regardless of whether you were a driver or a passenger in the accident, you may be eligible to claim car accident compensation if you got injured due to someone else’s carelessness. It could even be the driver of the car you were in or the driver of the other vehicle involved in the accident. It could even be the pedestrian if they were responsible for causing the crash.
Passengers must prove that the other party caused their injuries to make a successful claim. Additionally, you must prove that those injuries were directly caused by the car accident and not by another incident.
