What types of car accident compensation can I get? After a car accident, you can generally recover economic and non-economic damages for your losses, as well as punitive damages in certain situations.
How much you recover in your case can depend on several factors, so it’s important to work with an experienced Chicago car accident lawyer who can advocate for you and negotiate a fair settlement.
You Can Recover Economic Damages for Your Expenses in Illinois
Economic damages make up the majority of your losses, and therefore make up the biggest portion of your settlement. This type of car accident compensation focuses on your expenses, which may include a wide array of medical costs, property damage costs, and lost wages or earning capacity. In accidents that result in a wrongful death, economic damages may cover the cost of funeral and burial expenses as well.
To determine the value of economic damages in a case, all losses must be added together. These damages are the easiest to calculate since each loss already has a set value. While economic damages provide for the expenses you’ve already incurred, they can also cover future costs. For example, if you sustained an injury that requires ongoing treatment, therapy, or equipment, then those may be included.
When submitting a car accident claim, a Chicago personal injury lawyer can outline each of your losses and how much they are worth in a demand letter. This document clearly shows what you have suffered due to the crash, what you need, and how much car accident injury compensation you’re asking for in your case. This document presents all necessary information and is used during settlement negotiations.
Non-Economic Damages in Illinois Provide for Your Pain and Suffering
Accidents often lead to physical and emotional pain and suffering, and this is what non-economic damages cover in a settlement. This type of compensation generally covers your lost quality of life, lost companionship/consortium, and anxiety, depression, and PTSD. The purpose of non-economic damages is to provide monetary support so you can secure resources to help ease the suffering you’ve endured.
Getting car accident compensation for non-economic damages can be a little more challenging than economic damages because these losses are intangible. Evidence, such as journals and statements from family, friends, and mental health professionals, is essential for ensuring that you can recover these losses. Formulas are often used to assign a financial value to these types of losses in car accident cases.
Once non-economic damages are calculated, their value can also be included alongside economic losses in the demand letter that your lawyer submits to the insurance company. Unlike some states, Illinois does not cap non-economic damages, so you can recover the full value. Some exceptions may apply, so it’s important to talk to your lawyer about the details of your case from the outset to gain clarity.
Punitive Damages May be Available in Certain Cases
Punitive damages are rare and only used in certain types of situations, which generally include acts of gross negligence or recklessness, or malicious actions that result in severe harm. In these situations, punitive damages are used to punish the defendant for their actions and discourage them from committing similar actions in the future. These penalties are paid to the victims in applicable cases.
When punitive damages apply, this compensation for a car accident is awarded in addition to damages for economic and non-economic losses. It can be used to cover a victim’s losses, but it is not intended to cover a specific type of loss like traditional damages do. If you are eligible to recover punitive damages, it’s important to work with a lawyer to make sure you understand how to proceed and receive what’s fair.
To recover punitive damages, you must provide evidence that is clear and convincing of the other driver’s wrongdoing. Documentation should highlight their recklessness or intentional disregard for the safety of others, and how it contributed to the extensive losses you’ve suffered. If a clear link can be shown, then you may be able to recover punitive damages in addition to other damages in your case.
Factors That Can Impact How Much Compensation You May Receive
There are several factors that can impact how much you can receive for your various losses, which may increase or decrease the value of your settlement. One of the biggest influences on how much your case is worth depends on how extensive and how severe your injuries are. If you suffered more significant losses, you will likely require more compensation to offset your losses than if you sustained minor losses.
Insurance can also affect your recovery amount. When you file a claim under the other party’s auto insurance policy, their coverage limits dictate how much of your losses can be covered. Insurance companies won’t cover more than the policy limit. Insurance companies also use various tactics to limit your payout, so having legal support can help make sure that you don’t accept less than what is fair.
Shared fault for the accident could also result in reduced compensation. Per Illinois’ comparative negligence laws (735 ILCS 5/2-1116), if you’re 49% or less at fault for the accident, your compensation will be reduced by the fault percentage you were assigned. Fault above this threshold results in no compensation. Working with a car accident compensation lawyer is essential for a favorable outcome.
Charlie Therman Injury & Accident Lawyers, P.C., Help You Secure Maximum Compensation
Charlie Therman Injury & Accident Lawyers, P.C. can help ensure you receive maximum car accident compensation for your losses. We help you calculate the value of your losses and negotiate on your behalf with insurance companies and other parties to make sure you aren’t taken advantage of.
We know the difference fair compensation can make, and we fiercely advocate for you from start to finish. To meet our legal team and learn more about what compensation you can recover for your accident, schedule a free consultation with us today.
