The terms of your policy will determine how long you have to report a car accident to your insurance provider. You should make sure to be familiar with the terms so that you report the accident as required. Failing to report an accident as required by the terms of the policy likely will allow the insurer to deny coverage later, even if your claim is otherwise legitimate.

In general, a car accident settlement will cover two main types of damages: economic damages and non-economic damages. Economic damages are often also known as special damages, while non-economic damages are often also known as general damages. Economic damages account for medical bills, lost income, property damage, and other financial losses. Non-economic damages account for a victim’s pain and suffering, mental anguish, lost enjoyment of life, and other more subjective forms of harm.

Pain and suffering includes both physical pain and mental anguish caused by your injuries. The amount that you receive will depend on the extent of your injuries and your ability to document them. If you have accumulated substantial medical bills or missed time from work, an insurer likely will recognize that you have experienced significant pain and suffering. Certain types of injuries also are commonly associated with severe pain, such as broken bones. If your injury is not severe or did not require extensive treatment, you may need to work harder to prove that you experienced significant pain and suffering.

Texas does impose caps, or limits, on the amount of certain damages you can receive in a personal injury lawsuit. However, these caps only apply to non-economic damages in medical malpractice claims. You can only collect up to $250,000 per defendant and $500,000 overall in these types of damages.