Thursday, August 13, 2020

How Much Is My Personal Injury Claim Worth?

by Editor (editor) , August 09, 2020

Pursuing compensation is one of the essential parts of the recovery process after getting involved in an accident. Many injury victims question the total amount they can secure from their claim. However, the simple truth is that there is no fixed amount. The total compensation is dependent on the many factors that are used to evaluate the claim's total value.

Factors Considered in Calculating the Value of Your Claim

The critical factor in determining your claim's value is the severity of the injuries that you sustained from the accident. Plaintiffs who suffer severe losses and injuries from the accident are due to receive more compensation than those who only sustained minor injuries.

Mental and psychological injuries such as anxiety, post-traumatic stress, personality changes, depression, and anxiety also play a part in determining your personal injury reward.

Types of Claims

You can claim many things in your personal injury lawsuit, as directed by your Brooklyn personal injury lawyer. However, some categories may not be viable for your case. Some common types of damages often included in injury claims are detailed below.

Pain and Suffering

A pain and suffering claim entitles you to compensation for the general damage that the injuries caused you. It may also include compensation for the pain and suffering that you may suffer in the future as a result of the accident. The total amount that you can receive from this claim may vary depending on your state and insurance provider.

Special Damages

Special damages compensation covers all the quantifiable monetary losses that you incurred during the accident. Since such damages are tangible and specific, and they are summed up and accounted for before the trial. Anything that is considered a special damage after the trial is compensated under another claim category. Examples of special damages include the cost of prescriptions, therapy bills, and walking aid.

Income Loss

One of the most significant impacts of a severe injury is the inability or difficulty to continue with daily life activities. Through the income loss claim, you can get compensation for the total income you would have earned during the recovery time, and this includes salaries and commissions.

To receive income loss compensation, you must present proof of the commission agreements and earnings that apply to your employment status. An accountant can calculate your losses if you are self-employed or a business owner.

Future Cost of Care

If you suffer serious injury from an accident, you might need ongoing care in the future. These include treatments, surgeries, prescriptions, and help with housework and yard work. The future cost of care compensation is intended to compensate the injured individuals for all of the future needs they may incur as a result of the injury.

Since it is impossible to determine the exact needs that may occur in the future, the total compensation from this category may vary. You may consult experts in the field to get an estimate of the compensation due.

Future Income Loss

In some cases, the seriousness of your injuries may leave you unable to return to your previous job. Under the future loss of income claim, the plaintiff can file for compensation of the money they might lose in the future as a result of their injuries. Consulting experts in this field is the best way to make the most accurate estimate of the total amount that the injured person can receive from the claim.

The above factors are some of the aspects that determine the total valuation of your personal injury claim. Your personal injury lawyer can determine the total value of your claim.

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