There are financial consequences of auto accidents in Laurel, MD. Where an injury or loss has occurred due to another’s fault, economic strains are bound to arise. This is why accident victims need maximum compensation for car accident damages in Laurel. After a collision, a car accident lawyer in Laurel, Maryland, can assist you with the complexities of recovering a settlement.

There is no way to assign a precise settlement amount for your wounds and property damage. In addition, the financial award in injury claims significantly varies between cases. Thus, the amount you can recoup depends on the circumstance of your case.

If you sustained accident injuries, you could receive a good amount if you have a strong case. A lawyer can get an accurate estimate of your case’s worth. This article helps you understand what you can expect to receive in terms of car accident damages in Laurel, MD.

What Is the Average Settlement for Car Accidents Damages in Laurel, Maryland?

Numerous factors determine a claim’s worth. Unfortunately, this makes it impossible to give what is considered an average amount. For example, collisions can range from minor with no injuries to extremely severe, resulting in life-long disabilities or death. Hence, there is no way to value your claim based on the average settlement.

However, payouts can range from $2,500 to $75,000 or more. Regardless, the amount you receive depends on the merit of your case. The best way to estimate the value of your claim is to speak with a lawyer.

A Car Accident Lawyer in Laurel, MD Explains the Types of Damages Available After a Collision

After a crash, focus on your recovery instead of the cost implications. Unfortunately, the wounds and losses will force you to deal with the financial consequence of the collision. When a negligent party has caused you to hurt, you should recover compensation for their actions.

The essence of compensatory damages is to make you whole again after a collision. You are eligible to receive several types of compensation, depending on the damages suffered. There is no fixed amount of car accident damages you are entitled to receive.

There are three types of car accident damages you can claim in Laurel, MD.

1. Economic Damages

Economic damages are also called special damages. Special damages are the easiest to define and quantify because they have a fixed dollar amount. The amount you lost can be established through existing documentation.

The following are out-of-pocket expenses you incur as a result of the collision.

• Cost of medical care and treatment (past and future)
• Lost wages
• Loss of earning capacity
• Property damage
• Cost of repairs

2. Non-Economic Damages

Non-economic damages are also called general damages. They are based on injuries and not tied to a specific dollar amount.

The estimated value of your claim gets complicated when general damages are involved. This form of injury is much harder to quantify and prove. While each case is unique, this form of car accident damages includes the following:

• Physical pain and suffering
• Loss of companionship
• Emotional and mental distress
• Physical disfigurement
• Physical impairment
• Lowered quality of life

3. Punitive Damages

Punitive damages are known as exemplary damages. They are infrequent and only available in tort actions, and are not applied in insurance claims. It is only awarded where the at-fault driver acted with intent to cause harm.

Depending on the circumstance of your case, you may be eligible for punitive damages. While economic and non-economic damages compensate you, punitive damages punish the at-fault party. It is also awarded to deter similar conduct in the future.

To be entitled to punitive, you must prove with clear evidence that the at-fault driver acted with malice. There is no statutory cap on punitive damages in Maryland. Instead, the judge or jury determines the amount you receive.

Is There a Formula to Calculate How Much I Am to Receive After a Car Accident in Laurel, MD?

Dealing with insurance companies after a car crash can be difficult. They seldom offer you the maximum amount of car accident damages in their settlement offer. The goal of insurance adjusters is to limit their company’s liability. Hence, they will try to get you to accept a low amount or outright deny your claim.

They often use a settlement formula to calculate the value of a car collision claim. However, the insurer considers the specific circumstance of your case. Therefore, the insurance company’s method of arriving at a compensatory figure depends on the car accident damages you are claiming.

They often use the multiplier method for non-economic damages. This means your actual economic loss is multiplied by a number to estimate non-economic damages. They consider factors such as:

• The severity of your injuries
• Damage to vehicle
• The length of your recovery process
• The number of victims involved
• Repair estimates for damaged vehicles
• The medical evidence of your injuries

The type and severity of your injuries significantly impact the amount you receive. The greater the evidence of damages, the higher your settlement. A car accident lawyer in Laurel, Maryland, would go over the settlement offer and negotiate on your behalf.

Settlement Offers for Car Accidents in Laurel, MD

Most personal injury claims are settled out of court. If you are a collision victim, you should get the total amount allowed by law. However, again, the insurance company is not your friend.  They will try to deny your claim or reduce the amount you are to receive.

Blaming you for the accident is one of their tactics to get out of paying. They also go the extra mile to argue that your injuries are not as bad as you claim. So, have your lawyer handle negotiations.

Also, do not accept the exact amount of the first offer. You get a higher settlement by negotiating than simply taking the initial proposal. So, keep negotiating until you get a fair offer.

Maximize Your Settlement Amount With a Maryland Personal Injury Attorney

If you suffered injuries in a traffic accident in Maryland, you are entitled to recover car accident damages. As trained legal experts, we can assess your injury claim to estimate its worth. We will also increase your chances of recovering maximum compensation for your wounds and losses.

At Pinder Plotkin LLC, we are ready to guide you through the process of filing and winning your claim. So, schedule a free consultation with our Maryland personal injury attorneys to get the representation you need.