What is a car accident claim worth? It’s a simple question, as your losses include more than your repair bills and medical expenses. If you don’t know how to calculate the value of your car accident claim in Texas, you could lose the money you need. The Wilhite Law Firm can review your case to ensure you don’t leave any compensation on the table, helping you better understand your car accident claim value in Texas and what factors could increase it.
What Determines a Car Accident Claim’s Value in Texas?
Generally speaking, your car accident claim’s value increases proportionately to your losses from the crash. In other words, you can demand more compensation if you suffered more severe injuries and property damage. You must also have proof of your injuries and how they affect your life. You can use your medical bills, pay stubs, vehicle repair estimates, and other documents to illustrate your losses and start answering the question, What is my car accident worth?
Your compensation in a car accident claim falls into two main categories. The first is your economic damages, compensating you for the collision’s direct financial costs. Your economic damages can include compensation for lost income, reduced future earnings, vehicle repair costs, current medical expenses, and future medical needs.
Your non-economic damages are the second primary compensation category in a car accident claim. These damages compensate you for the accident’s indirect costs. For instance, you can demand compensation for your pain and suffering, emotional distress, and how your injuries affect your quality of life.
Finally, you might qualify for punitive damages in some circumstances. Punitive damages, called “exemplary damages” in Texas law, are additional compensation a court can award in cases involving fraud, intentional wrongdoing, or severe negligence. You must take your case to trial to recover punitive damages, and the jury must agree unanimously that the defendant caused your injuries and the amount of your compensation.
Texas law also limits how much punitive damages you can receive. In most cases, the cap is the greater of $200,000 or twice your economic damages, plus up to $750,000 in non-economic damages. These limits don’t apply in certain severe felony cases, like fatal drunk driving accidents.
How Texas Law Affects Your Car Accident Compensation
Texas law does not limit your compensation in a car accident claim. The law limits compensation for non-economic losses in medical malpractice cases, but that rule usually doesn’t apply to car accidents.
One law that can affect your compensation is the state’s comparative negligence statute. Comparative negligence is a rule that applies when you are partly responsible for a car accident. Under Texas law, you cannot recover compensation for a car accident if you are more than 50 percent responsible for the crash. If you are partly responsible for an accident but your level of fault is 50 percent or less, your compensation is reduced by your percentage of liability.
For example, suppose you are 20 percent responsible for a crash, and your losses total $100,000. In this scenario, you would lose 20 percent of your compensation, or $20,000, leaving you with $80,000.
Since the comparative negligence rule can significantly reduce your compensation or block you from recovering any money, it’s crucial to provide evidence minimizing your level of responsibility. A Dallas car accident attorney can investigate the crash and find evidence to support your claim.
How Do You Calculate a Car Accident Claim in Texas?
The basic formula for calculating your car accident claim is to add up all your losses from the collision. However, you must prove your losses with financial medical records or other evidence. Common types of evidence in car accident claims include:
- Medical documentation – Gather all records related to your treatment, including hospital charts, diagnostic test results, surgical notes, and follow-up visit summaries. These documents help prove your injuries’ nature, severity, and cause. Pair them with detailed medical bills to show the exact costs of your care, from emergency treatment to long-term therapy.
- Proof of lost income – You can use pay stubs, direct deposit records, or employer statements to show the wages you missed while recovering. If you are self-employed or have irregular income, supplement these documents with tax returns or client invoices to demonstrate your earning history and the accident’s financial impact.
- Property damage evidence – Take clear photographs with dates of the damage to your vehicle. Use multiple angles and good lighting so there’s a clear view of your car’s condition. Combine these images with repair estimates from certified mechanics or appraisers to show the cost of fixing or replacing your car. It’s also smart to keep receipts for rental cars or alternative transportation used while your vehicle was being repaired.
- Photographic and video evidence – Capture photos or videos of your injuries immediately after the crash and throughout your recovery. You can combine this evidence with other proof from the accident scene to help show how the collision occurred. You must link your injuries to the crash to recover compensation.
- Expert opinions – Reports from accident reconstructionists, vocational experts, or economists can connect the crash to your injuries. They can explain the crash’s long-term effects and help you estimate future losses like reduced earning capacity or ongoing medical needs.
Deadline to File a Car Accident Lawsuit in Texas
In most car accident cases, Texas law says you must file a car accident lawsuit within two years of the crash. We recommend you speak to an attorney as soon as possible so they can preserve evidence from the scene before it fades.
How Our Car Accident Lawyers Can Help
The Wilhite Law Firm has fought for injury car accident victims for nearly 50 years and won millions for our clients. Our Dallas car accident attorneys have the experience and resources to take on the insurance claims and companies and win. We’ll handle all the legal work so you can focus on healing. We don’t charge attorney fees to minimize your financial stress unless you recover compensation. Our team is here to help you understand your rights and take the first step toward securing the necessary benefits. Call 303-466-3529 now or complete our contact form for a free consultation.
