Although there is no predetermined amount or formula insurance companies or defendants use when agreeing to personal injury settlements, some factors come in handy. Remember, even if you consult an experienced personal injury attorney, it is difficult to determine your claim’s worth at first. However, here are some of the ways that damages are assessed:
- Past medical expenses – If you incurred medical expenses due to the injury, you could get reimbursed whether the bill is unpaid, paid the bill yourself, or your insurance company footed the bill.
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Future medical expenses – If you require medical treatment in the future, your personal injury lawyer presents evidence (usually a testimony from your doctor or medical expert) showing the type of medical treatment required, frequency, and total cost. After careful assessment, you may get compensated for future medical expenses.
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Past wage loss – If you missed work due to the injuries, you may also be compensated. In addition to wages, compensation can include other benefits lost, such as retirement contributions, health insurance benefits, and pension benefits. Your injury attorney often seeks guidance from an economic expert to prove these damages.
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Future wage loss – If your injuries will affect your ability to work in the future, your attorney can demand compensation for expected wage loss. Once again, your personal injury lawyer often seeks testimony or a report from economic expert to prove these values.
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Pain & suffering – You are also entitled to compensation for present, past, and future physical and mental discomfort. This may include emotional suffering, such as shock, embarrassment, and depression; as well as the inability to perform your household chores and carry out your daily activities.
- Punitive damage – While rare, punitive damages are aimed at punishing the defendant for outrageous conduct. The main objective of punitive damage is to discourage the defendant and others like him from engaging in similar, future misconduct.
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Property damage – If your car or property suffered damage due to negligence of the other party, you can seek reimbursement for those damages. Your attorney will often rely on a mechanic or body shop to prove the value of these damages.
