While you may be entitled to a settlement after a car accident, how much can you receive as compensation? The answer to that largely depends on your damages, the legal caps that may apply and your contribution to the accident, among other aspects of your claim.
Damages for personal injury claims like car accidents are broadly classified into economic, non-economic and punitive damages. Economic damages include tangible financial losses, such as medical expenses and lost income. Non-economic damages, on the other hand, cover intangible losses like pain and suffering. Finally, punitive damages are intended to penalize severe negligence or misconduct rather than compensate you for the losses and harm suffered.
The law in Texas
Texas law does not cap compensatory damages for car accident claims. It means there is no legal limit to the amount you can recover in compensation for the economic and non-economic losses suffered after a crash.
However, punitive damages are capped by law. You can only recover the greater of $200,000 or two times the amount of economic damages plus an amount equal to your non-economic damages of up to $750,000. It is also important to note that punitive damages are only awarded under very particular circumstances, and they’re not common.
Your contribution to the crash also matters
For starters, you cannot recover any compensation if your level of fault exceeds 50%. Additionally, your level of fault will diminish your recoverable compensation. For example, if you were 40% to blame, you can only recover 60% of your damages.
Remember, different rules may apply if your claim is against a government entity. It underscores the need for proper guidance to help navigate the legal complexities, understand the value of your claim and safeguard your interests through the entire settlement process.