It’s never too soon, following a car accident in the Houston area, to begin considering filing a claim and thinking about potential car accident settlement payouts. But are you aware of the various types of compensation and how they can influence an out-of-court settlement?
This article will provide an overview of payouts to give you an idea of what’s available. You will also become better equipped to discuss the matter with your accident attorney.
Three Types of Damages
Texas recognizes three principal types of damages. There are economic damages that are relatively simple to calculate. Then there are non-economic damages.
And finally, there are punitive damages. In the typical personal injury case, only the first two types are relevant.
Punitive damages occur under certain conditions. For example, the court wants to send a message to the guilty party and others who might think they can get away with doing the same thing.
Punitive damages might come into play if gross negligence on the part of an automobile manufacturer contributed to your accident. So, let’s confine our discussion to economic and non-economic damages.
Economic damages are the easiest to document. These are damages that compensate you for the direct costs related to your accident.
Economic damages would include reimbursement for your medical hospital and pharmaceutical feels. They would also cover repairing your automobile and the cost of replacing other damaged or lost items, such as your laptop or phone.
A serious car accident will likely mean missing days at work. So economic damages should compensate you for lost wages and lost earning potential. You lose earning potential when an accident keeps you from qualifying for your old job.
Non-economic damages cover the emotional toll you pay for the accident. Even the best medical care can leave you struggling with significant pain. You might also suffer post-traumatic stress-like symptoms that make it difficult to drive or even travel in an automobile without a sense of dread.
A frightening accident can alter your behavior and personality. The result could take a toll on your marriage and family.
How Much Money Could You Receive?
Texas law does not stipulate a set amount of compensation for any particular type of injury car accident settlement. Each car accident claim is settled independently. That means that you and a coworker could experience similar accidents and similar injuries and receive quite different compensation.
What factors can influence a settlement amount? It depends upon the impact the accident has on your life.
Each person heals differently. For example, one person could regain a full range of motion in an injured shoulder while another regains only limited use.
Due to a number of factors, one person could be out of work for weeks while the other is out of work for months or even become a candidate for permanent disability.
And as mentioned, an accident can change a person emotionally. One person’s emotions may return to normal within days, while another person’s emotions never fully recover.
Talk With a Professional About Car Accident Settlement Payouts
Whether you’re pursuing economic, non-economic, or punitive damages, it’s to your advantage to have an experienced Houston personal injury attorney representing you. Don’t try to battle the insurance company alone.
Instead, contact our law office today to arrange a private consultation. We help our clients get the car accident settlement payouts they deserve.