Calculating Damages After a New Jersey Car Accident: A Comprehensive Guide

Knowing you deserve compensation after a car accident is great. But it’s pretty much worthless if you can’t figure out how much you deserve.

That’s because the other side isn’t going to just fork it over. They want to give you less than what you’re owed.

That’s why you need to calculate your damages — accurately. But calculating damages after a New Jersey car accident is far from easy. Fortunately, the team at Rosengard Law Group is here to help.

This comprehensive guide will help you navigate the process of calculating damages after a New Jersey car accident. Read on to learn more, or reach out to schedule a free consultation with a New Jersey auto accident attorney.

Types of Damages You Can Claim

In New Jersey, you can claim several types of damages after a car accident. These damages fall into two main categories: economic and non-economic damages.

Economic Damages

Economic damages are quantifiable monetary losses resulting from the accident. In other words, they directly impact your wallet.

Economic damages in NJ include:

• Medical expenses. This covers the cost of emergency room visits, hospital stays, surgeries, medications, physical therapy, and any future medical expenses related to the accident.
• Lost wages. If your injuries prevent you from working, you can claim compensation for lost wages. This includes not only the income you’ve already lost but also future earnings if your ability to work is impacted.
• Property damage. This includes the cost of repairing or replacing your vehicle and any other property damaged in the accident.
• Out-of-pocket expenses. These are additional costs directly related to the accident, such as transportation to medical appointments, rental car costs, and home modifications required to accommodate your injuries.

Non-Economic Damages

Non-economic damages compensate you for non-monetary losses. They’re more subjective because they are not tied to a direct impact on your wallet. They’re mostly about your well-being.

Here are some examples of non-economic damages common in NJ car accident claims:

• Pain and suffering. This compensates for the physical pain and emotional distress caused by the accident and your injuries.
• Loss of consortium. If your injuries negatively impact your relationship with your spouse, you may be entitled to compensation for loss of companionship and support.
• Loss of enjoyment of life. If your injuries prevent you from enjoying activities and hobbies you once loved, you can seek compensation for that.
• Emotional distress. This covers psychological impacts, like anxiety, depression, and PTSD, resulting from the accident.

Factors Affecting Damages Calculation

Several factors can influence the calculation of your car accident damages, including:

• Severity of injuries sustained. More severe injuries often result in higher medical costs and more significant non-economic damages.
• Duration of recovery and long-term prognosis. The longer your recovery period and the more permanent your injuries, the higher the potential compensation.
• Impact on daily life and activities. Injuries that severely affect your ability to perform daily activities or enjoy your life can increase the value of your claim.
• Psychological and emotional effects. The emotional and psychological toll of the accident, including conditions like PTSD, can substantially impact the amount of compensation you’re awarded.

Steps to Calculate Your Damages

Calculating damages after a car accident in New Jersey involves a close look at your losses and how they’ve impacted your life. 

Here are the general steps you’ll likely need to follow:

1. Gather All Medical Records and Bills

Collect all documentation related to your medical treatment, including emergency room visits, surgeries, medications, and therapy sessions. This will help establish the extent of your injuries and the costs involved.

2. Document Your Lost Wages

Keep a record of the days you missed work due to the accident. And obtain a statement from your employer detailing your lost income. 

If your injuries will affect your ability to work in the future, you may need an expert to calculate your future lost earnings.

3. Assess Property Damage

Get estimates for repairing or replacing your vehicle and any other damaged property. Keep all receipts and invoices related to these expenses.

4. Keep a Journal

Keep a daily journal detailing your physical pain, emotional distress, and how your injuries have impacted your daily life. This can be valuable evidence when you’re seeking non-economic damages for a car crash.

5. Consult with Experts

In some cases, you may need to consult with medical experts, vocational experts, or financial analysts to accurately calculate future medical expenses, lost earning capacity, and other long-term impacts of your injuries.

6. Speak with an Experienced Attorney

Here are two key facts: Calculating damages is complex. And insurance companies often attempt to minimize payouts. 

An experienced personal injury attorney can help you gather evidence, consult with experts, and negotiate with insurance companies to ensure you receive fair compensation.

Why You Need Legal Assistance

The process of calculating damages and negotiating with insurance companies can be overwhelming — especially when you’re recovering from an accident. 

Being overwhelmed is the last thing you need right now. And that’s why so many people in your position work with a lawyer. 

Here are some of the benefits of working with an attorney to calculate your damages after a New Jersey car accident:

• Experience. An experienced attorney understands the nuances of personal injury law and can accurately calculate the full extent of your damages.
• Negotiation skills. Attorneys are skilled negotiators who can handle discussions with insurance companies, which often aim to reduce settlement amounts.
• Representation in court. If your case goes to trial, having an attorney to represent you ensures that your case is presented effectively and your rights are protected.

Maximize Your New Jersey Car Accident Compensation

Calculating your damages is key to getting your life back after a car accident in NJ. But it’s not easy.

We’re here to make it easier. The experienced attorneys at Rosengard Law Group are here to help you navigate the complexities of calculating damages and pursuing the compensation you deserve.To get started, all you have to do is contact us. Schedule a free consultation by calling 856-284-6446 or reaching out to us online.