What Is Your Personal Injury Claim Worth?
You may be entitled to compensation if you have been injured in an accident. A personal injury lawyer can help determine what your claim is worth.
The amount of compensation that you will receive is determined by the severity of your injuries and several other factors. Most compensation awards include economic damages, such as reimbursement of medical treatment and compensation to cover future medical care.
No-fault system
The system of no-fault in New York was designed to help victims recover the costs of medical expenses and other financial losses. However, this system does not cover damages that are not monetary like pain and suffering. In order to receive the amount they are due victims might need to file a lawsuit. A knowledgeable attorney can guide you through the process of getting compensation to cover your expenses after an accident and help you get back on your feet.
The value of your personal injury claim could be determined by the severity and nature of your injuries. Injury that causes permanent impairment or disfigurement are likely to be more valuable than those that do not. Additionally the extent to how your injuries have affected your quality of life also increase the value of your claim.
It is important that you keep track of all your medical expenses and financial losses to receive a full reimbursement. YouTube includes doctor visits, surgery and physical therapy, medication as well as assistive devices and any other medical needs you will require in the future. Your lawyer can estimate this amount by reviewing your medical records and getting a prognosis form your doctor.
It is crucial to take into consideration any income that you may have received from other sources other than the responsible party when determining the amount for your personal injury claim. This is known as the collateral source rule and it prevents the negligent parties from cutting the amount they have to pay you by subtracting the money you already received from other sources of income.
If you are in a no-fault or a tort liability state, the value of your personal injury claim will depend on how serious your injuries are as well as the number of people who were injured in the accident. A strong personal injury attorney can help you understand the no-fault system and fight for the maximum amount of amount of compensation you are entitled to.
In a lot of states, including New York, no-fault insurance coverage is mandatory. Personal injury protection (PIP) covers medical bills and lost wages in the event of an accident. PIP limits vary by state however, most offer at least $2,500 in coverage for medical bills and a limited amount of insurance for lost wages.
Damages for suffering and pain
In personal injury cases the aim is to make the victim whole again. This could mean restoring them to their financial situation prior to the accident. It could also mean paying for medical bills, car repair costs and reimbursing them if they lost income. The law defines pain as a broad category that includes physical or emotional effects on an individual. This includes mental anguish, physical pain and loss of vitality or health.
These damages that are not economic can be more difficult to quantify compared to other types of damages, such as medical bills or lost wages. There are many methods that can be used to determine the value of suffering and pain. For instance medical records that demonstrate the extent of a victim's suffering can be an important piece of evidence. The testimony of a victim, or a family member of the victim, could be a good indicator of how injuries impacted their lives.
Imagine, for instance you're injured and are not able to run for long distances or engage in your activities. You'll probably be able to show how these activities have impacted your life quality. In addition, you could have videos or photos which prove your health. These kinds of evidence can be extremely persuasive to jurors, even if they are not supported by scientific evidence.
There are two common ways that courts determine pain and suffering using the multiplier method and the per diem method. The multiplier method involves multiplying a claimant's total economic damages by a number ranging from one and five, while the per diem method assigns a financial value to every day that they've suffered from their injuries until they reach "maximum medical improvement."
These procedures aren't fixed in stone, and judges and juries have wide discretion when awarding this type of compensation. It is therefore important to understand how to prove your claim for suffering, pain and other damages to increase your chances of receiving an equitable settlement.
Compensation for lost wages
A significant portion of a personal injury award could be compensation for lost wages. This includes all time missed from work because of an accident, including holidays and weekends. This also includes commissions, bonuses and tips that would have been earned from the job. The value of these losses is typically calculated by a forensic economist or a financial expert.
The damages are simple to calculate, and can be proved with paystubs and W-2 forms. These can be compared with the amount of money you earned prior to your injury to show the difference. You may also be able include any sick days, vacation days or personal days you had planned to take but were not able to due to the injury.
This type of compensation may help you recoup some of the money you lost because of your inability to work. It may even make up for future losses. You will not receive full compensation if your injury had not occurred. This is due to the fact that there could be an obligation on your account from a different party who paid for medical bills or treatment.
It can be difficult to prove you've lost wages if you're self-employed. However, your attorney can consult an expert in finance on this. They can estimate your future earnings based upon your current earning capacity. They will consider things like your typical job, the number of hours you work per week and your hourly wage.
Future loss of earnings damages are similar to the past income loss but are based on your ability to earn in the near future rather than what you earned before. These damages are also called impairment of earning capacity or loss of future earning potential. They are only awarded if it can be proven that the injury will permanently and significantly limit your ability to work in the future.
Another kind of compensatory damages is known as general damages and can include expenses like pain and suffering. This is a more subjective category of damages that can be difficult to quantify. It is often awarded in addition to the other types of damages like medical expenses and lost wages. To qualify for this type you must prove that you suffered physical, mental, or emotional distress as a result. This could include a doctor's report or an expert testimony from a psychologist or psychiatrist.
Future medical expenses - Damages to be paid
In personal injury lawsuits, future medical expenses could be a substantial part of the settlement. However, they can be difficult to calculate and prove. The damage is usually determined by actuarial calculations of your future needs. They could also include the cost of medications or an estimate from a physical therapist of the length of time you'll require treatment, and a variety of other factors.
You will require expert witnesses such as doctors or therapists to prove future medical expenses. These experts will testify on the nature of your injury, and its expected impact on you in the future. They will also help you determine the current worth of the expenses. Your lawyer will use this information to make an effective argument for you.
Another thing to consider is the loss of income you could face as a result of your injuries. This could include loss of wages, commissions, bonuses, and benefits. There may be a need to pay an attendant or a nurse at home, and you may be entitled compensation for the cost assistive devices such as wheelchairs and canes.
After an accident, a lot of injured victims need to continue receiving treatment and medical attention. This can be extremely expensive. This includes physical therapy, therapy and occupational therapy. These expenses, including the cost of transportation and accommodation to and from appointments are covered by compensation for injured victims.
It's also important to consider other costs that are not medically related to your accident, such as the loss of enjoyment from activities you enjoyed prior to your accident. This is a type of damage that can be difficult to quantify, however it's still important to document it as accurately as you can.
You can seek to recover these losses through two methods either through a settlement or lawsuit. A settlement is a deal with the defendant or their insurance company to settle the issue outside of court. A lawsuit requires a trial and evidence that the defendant's negligence or carelessness caused your injury. An attorney for personal injury can assist you in deciding which option is best for your case.