Determining the Value of a Car Accident CaseBy Stewart J. Guss on February 2nd, 2017
Texas is not a no-fault insurance state. Therefore, whenever there is an accident, the at-fault party shall be responsible for compensating the injured party. The amount of compensation is calculated using several factors including economic and non-economic costs, value multipliers, and even the total percentage of fault. The amount of damages that an injured party recovers shall also depend on whether a settlement is reached between the parties or whether the matter is decided by a jury.
An injured party will be required to provide evidence that justifies the total damages demanded. In the case of economic damages, the injured party’s evidence must demonstrate actual assignable values for things such as medical expenses, property damage, and lost wages. Non-economic damages, which include pain and suffering as well as loss of normal life, are more abstract and will depend on a reasonably assigned value.
Medical expenses tend to make up a significant percentage of an individual’s car accident case. This typically includes hospital bills, surgeries, treatments, and rehabilitation. Medical expenses are calculated using receipts, invoices, etc., and are highly important when determining the value of the car accident.
It is much more difficult to calculate non-economic damages. This is true because non-economic damages are based on estimated claims. For example, a loss of normal life occurs whenever the injured party can no longer perform everyday tasks they once enjoyed. Compensation can be awarded in these cases, however, assigning a monetary value can be difficult because these activities are done for enjoyment and not earning money.
Non-Monetary Factors Affecting Value
The value of a car accident case can also be affected by other factors. For example, a Texas car accident case’s value may be affected by the jurisdiction in which the case is heard. Juries in Houston may award a different amount of damages than a jury in another Texas city. Additionally, Texas follows a modified comparative negligence formula. Under Texas law, the amount awarded by a jury is reduced by the injured party’s percentage of fault. However, a party who is deemed 51% or more at fault cannot recover damages.
Contact a Houston Car Accident Attorney
You deserve to recover just compensation if you are injured in a car accident. Calculating the value of your case can be tricky. If you have been injured in a car crash case, you should seek experienced legal counsel. The experienced team at Stewart J. Guss, Attorney at Law can review the details of your case and help implement a legal strategy designed to help you recover those damages to which you are entitled. Do not hesitate to set up your free consultation by calling 800-898-4877 today.