How to Determine the Value of Your Personal Injury Claim

Personal injury lawsuits come from the carelessness and negligence of others that cause bodily harm, destruction of property, or other forms of loss to the victim. Below are a few reasons individuals file personal injury lawsuits.

• They have sustained injuries from a motor vehicle accident
• Their health has been negatively affected by medical malpractice
• A person suffers a slip-and-falls on poorly maintained infrastructure on either private or public premises
• One got injured at work
• A defective product causes injury to the user

Suppose any of these scenarios, or others not mentioned, apply to your situation. In that case, whether you are seeking compensation in NYC after having suffered a slip due to negligence of others or you are suing an owner for a dog bite in Missouri, it is best to look for a dedicated personal injury attorney to help you determine the value of a personal injury claim.

Determining the Value of Your Personal Injury Claim

It's only fair that the more the losses a person suffers, the higher the value you receive on your personal injury claim. After assessment and litigation, the liable party should compensate the plaintiff for how the incident has negatively affected their life.

Read on to learn about the three main categories of compensation.

Special Damages Also Called Economic Damages

Economic damages are awarded to compensate victims for their tangible loss. These include the medical bills incurred during treatment, the cost of replacing or repairing damaged property, the lost income due to time taken off work, and other unforeseen expenses that have a price tag associated with them.

These expenses are easier to calculate and project because there are records that one can provide to ascertain their legitimacy. They cover both current costs and future financial implications of the accident.

General Damages Also Called Non-Economic Damages

Non-economic damages are awarded to compensate victims for their intangible loss. These include the emotional distress caused by the accident, the physical pain caused, the change in the quality of life caused by the victim’s injuries, disability, and loss of consortium.

Punitive Damages

Punitive damages are awarded to the plaintiff not as direct compensation but as punishment to the liable party for their reckless or malicious actions.

The Type of Case Impacts the Value of Your Claim

Even if there is sufficient cause for an injured person to receive compensation, there are other factors at play that could determine the value of your claim. 

The liable party’s insurance will have a policy limit if your compensation exceeds that limit or the liable party doesn't have insurance. You’ll have to pursue compensation in civil court.

Company-owned vehicles have better insurance; therefore, the payout will be substantial. Other factors like the person’s age in the accident, the status of the liable party, the venue the claim was filed, etc. 

Some cases are more complicated because of the people involved and might determine the lawsuit’s outcome, whether negatively or positively.

Get a Personal Injury Attorney to Increase Your Claims Value

When going through the rigorous process of claiming compensation, you will need an experienced personal injury lawyer in your corner. They will represent your best interest every step of the way and fight to see justice served via a financial compensation.

If the process goes to a courtroom, your lawyer can represent you in the court proceedings. Their knowledge of the law about personal injury will be invaluable.