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What it Takes to be Eligible for Claiming Car Accident Compensations

Getting into car and road accidents can result in a severe monetary deduction that could affect your whole life, that’s on top of the injuries inflicted from the accident itself. These accidents occur on a daily basis all around the worlds, and especially in the United States. In fact it is estimated that more than 38,000 individuals die from crashes every year in the U.S, and severely injuring more than 4 million people. The effect from these crashes can vary from minor to major, shifting with it the amount of money one can lose. In order to lessen at least the monetary burden, car insurance companies make it possible for their customers to get any car accident compensation that is needed to wholly, or partially cover the financial losses.

What is meant by “Car accident compensation”?

Car accident compensations are purposed to deliver financial support to the victims who have suffered due to someone else’s negligence or lack of driving skills. Car accident compensations aim to get the damaged back to a similar state where they were before the accident.

Types of Car Accident Compensation

Car Damages Compensation:

First and foremost, the main objective of car accident compensations is to pay up for the damages done to the victim’s car due to the accident.

Lost Income during the Time of Recovery:

Car accident compensations also reimburses clients for the work time and wages they have lost during recovery from the accident. And some victims suffer from these car accidents for the entirety of their lives, making them unable to continue their previous jobs or work all together, so car accident compensations include payment for all sorts of lost job situations.

Medical Fees:

In addition to covering the car damage expenses, car accident compensations pay for the medical charges related to the accident. This includes hospital stays, pharmaceutical medication, and therapy in some cases (both physical and psychological). They also try to make up for the physical and emotional trauma injured individuals went through during the accident itself and the hospitalization process.

Who can Claim Car Accident Compensations?

To put it briefly, only those that were victims of other drivers’ mishaps are eligible to claim any sort of compensations. However, you do not necessarily have to be the driver of the damaged car in order to receive your car accident compensations. That means even passengers and pedestrians involved in car crashes are also eligible for the reimbursement since they were not responsible for the accident themselves.

How much Compensation Would you Get?

The financial amount of car accident compensations is set by the Judicial Board Guidelines. They instruct that these ammounts can vary from $3,000 for minor injuries (such as whiplashes) up to $130,000 for more extreme injuries (like deep cuts and severe neck damage). For more information about how this car accident compensation is determined and calculated, please refer to your car insurance company.

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