When someone’s negligence causes you to suffer a personal accident, you deserve to be compensated financially, emotionally, and physically for your suffering. The value of your claim for personal injury is important because it determines what compensation you might be entitled to. Understanding the value and worth of your case is key to achieving a fair settlement. In this article, you’ll learn about the most important factors to consider when calculating how much your personal injury claim is worth.
- Medical Expenses
Your medical bills are the primary factor when calculating your injury claim. The medical expenses include all costs associated with your injury. This includes doctor’s visits, hospital stays, prescription medications, physical therapies, and assistive equipment. Keep detailed records of all medical costs and expenses. These will be used to value your claim.
- Lost Wages
You may be entitled to compensation for wages lost if you’ve been unable to work because of your injury or if your injuries have affected your ability to earn money. Calculate what you have lost in income because of the time that you were off work. You can also calculate any future earnings capacity affected by your injuries. This could also include promotions or bonuses you would’ve received had you been uninjured.
- Pain and Suffering
Your injuries cause physical and emotional distress. Although it is difficult to calculate the exact value of pain, courts, and insurance companies often use multipliers based on lost wages and medical expenses to estimate this amount. A multiplier is calculated based on many factors, including your injury’s severity, recovery period, and long-term impact.
- Emotional Distress
Personal injury can lead to emotional distress. For example, it may cause anxiety, depression, post-traumatic syndrome (PTSD), or depression. If you can provide medical evidence linking emotional distress with your injury and that it is related, you could be entitled to compensation.
- Property Damage
If your personal injuries claim is based on a car wreck or another incident causing damage to your property, you can include your costs for replacing or repairing these items as part of the value of your claim.
- Future Medical Costs
Injuries could require continued medical care. Calculate the claim value by considering your future medical expenses. This could include long-term rehabilitation, medical devices, and modifications to your home to accommodate your injury.
- Loss in Consortium
Loss in consortium refers to the impact of an injury on a relationship between a partner or spouse. It covers loss of companionship as well as intimacy and support. This is only sometimes the case but can be an important factor in personal injury cases.
- Liability for Comparative Negligence
To calculate the value of your claim, you must consider comparative negligence and liability. Compensation may be affected if you have a part in the accident or injury that caused your injuries. Understanding the legal concept governing comparative negligence within your jurisdiction will help you accurately assess your claim.
Calculating the value of a personal injury claim involves many different factors. These include medical expenses, lost wages, emotional distress, pain and discomfort, and damage to property. Suppose you want to be sure that your injuries are compensated fairly. In that case, it is vital that you thoroughly document the case, fully understand your state laws, and work with a personal accident attorney. Then, you can easily navigate through the complicated claims process.