Use our free car accident settlement calculator to estimate your potential settlement payment after an accident.

How Does a Car Accident Settlement Calculator Work?

A car accident settlement calculator is a tool that helps estimate how much your car accident settlement might be worth.

How does it work?

It looks at things like past and future medical bills, lost wages, and whether you’ve suffered a permanent injury, loss of bodily function, or scarring.

If you do have a permanent injury, loss of bodily function, or scarring, you may qualify for pain and suffering damages. These damages are calculated by multiplying your medical expenses and lost wages by a number between 1.5 and 2.5 to reflect both past and future pain and suffering. Keep in mind, this is just an estimate—talking to a personal injury attorney is the best way to get an accurate evaluation of your case.

Are you wondering how much your car accident claim could be worth? Calculating a potential settlement can feel overwhelming, as each case is unique and shaped by a range of factors. At Michael T. Gibson, P.A., Auto Justice Attorney, we created this free car accident settlement calculator to help you get an initial understanding of your claim’s potential value. This tool considers common damages in Florida car accident cases, giving you a clearer picture of what to expect.

Damages Covered in Car Accident Settlements

Car accident settlements typically include various types of damages to compensate for both financial and personal losses. These damages fall into two main categories: economic (measurable financial losses) and non-economic (losses related to quality of life and well-being).

Economic Damages

Medical Expenses
Car accident settlements in Florida cover medical expenses like hospital stays, surgeries, medication, rehabilitation, and future medical needs related to your injuries.

Lost Wages
If you’ve missed work due to your injuries, you may be entitled to compensation for current and future lost wages, ensuring your recovery time doesn’t disrupt your financial stability.

Property Damage
Most car accident claims include compensation for vehicle repair or replacement costs, helping you get back on the road.

Out-of-Pocket Expenses
Injuries often come with unexpected expenses, such as transportation, in-home care, and any necessary modifications to your living environment to accommodate recovery.

Non-Economic Damages

Pain and Suffering
This compensates for physical discomfort and emotional trauma endured due to the accident.

Mental Anguish
Beyond physical pain, many car accident victims experience psychological impacts like anxiety or depression that can be compensated.

Loss of Enjoyment of Life
Accidents can restrict your ability to enjoy hobbies, daily activities, or special moments, and these losses are considered in non-economic damages.

Loss of Consortium
In cases of severe injury, spouses or family members may also receive compensation for the loss of companionship, support, or guidance due to the accident’s impact on your relationships.

How to Calculate Your Car Accident Settlement

Estimating the value of your car accident settlement can often seem complex, but we can break it down into a more straightforward approach. This method provides a conservative estimate, focusing on the main factors in a personal injury claim.

What is the Formula for Settlement Amount?

The formula for calculating damages can look like this:

a + b + c + d = Total Damages

If you’ve sustained a permanent injury, bodily function loss, or scarring, additional damages may apply.

Explanation of Each Component

a = Past Medical Expenses
Enter the total cost of all medical bills related to your car accident, including hospital stays, surgeries, medications, and any other treatments.

b = Future Medical Expenses
This amount includes anticipated medical costs. While these are best estimated by a doctor, this calculator uses an approximate value. For simplicity, this version avoids mortality tables typically used in trials to estimate life-long costs.

c = Past Lost Wages
Include the total amount of income lost due to missed work following your accident, covering the period from the accident to the present.

d = Future Lost Wages
Estimate any future lost income if your injury is expected to affect your ability to work. Like future medical expenses, this calculator omits complex life expectancy calculations for a more straightforward approach.

e = Permanent Injury, Loss of Bodily Function, or Scarring
If a doctor has diagnosed you with a permanent injury, loss of bodily function, or significant scarring, additional compensation may be warranted. This additional value can often be calculated as e × 3 to represent non-economic impacts.

Example Calculation:

Imagine you have:

• Past medical expenses of $10,000
• Future medical expenses estimated at $5,000
• Past lost wages of $4,000
• Future lost wages estimated at $3,000

If you have a permanent injury confirmed by a doctor, you might multiply this by 2.5 to account for non-economic damages.

Total Estimated Damages = $10,000 + $5,000 + $4,000 + $3,000 = $22,000
With a permanent injury: $22,000 × 2.5 = $55,000

This calculation provides an estimated value of your car accident claim, but remember, every case is unique. Contact Michael T. Gibson, P.A., Auto Justice Attorney at 407-422-4529 or reach out online for a more detailed, personalized assessment.

Attorney Fees in Car Accident Cases in Florida

Most car accident attorneys, including Michael T. Gibson, P.A., operate on a contingency fee basis, meaning you pay only if you win your case. Typical fees range from 33% to 40% of the settlement, based on the specifics of your case and agreement. This arrangement makes legal representation accessible while ensuring your attorney is invested in maximizing your compensation.

Get a Personalized Estimate of Your Car Accident Claim Value

Our free car accident settlement calculator is a valuable tool to help you understand your claim’s potential worth. For a more comprehensive evaluation and to discuss your case with an experienced Orlando car accident attorney, contact Michael T. Gibson, P.A., Auto Justice Attorney at 407-422-4529 or visit our contact page.