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What Is Your Personal Injury Claim Worth? You may be eligible for compensation if you were injured in an accident. A personal injury lawyer can help to determine how much your claim is worth. The amount of compensation that you receive is determined by the severity of your injury as well as several other factors. Most compensation awards include economic damages, for example, reimbursement for medical treatment as well as compensation for future medical care. No-fault system The no-fault system in New York is designed to help victims recover compensation for medical expenses as well as other financial losses. However, this system does not cover non-monetary damages such as pain and suffering. Therefore, victims may have to start a personal injury lawsuit in order to receive the amount they are due. A knowledgeable lawyer can assist you in the process of getting the money you require to pay your bills and get back on track after an accident. The value of your personal injury claim could be determined by the severity and type of your injuries. Injuries that cause permanent impairment or disfigurement tend to have a higher value than those that don't. In addition the degree to how your injuries have affected your quality of life will add value to your claim. In order to obtain full compensation for your injuries, it's important to have proof of the total amount of your medical costs and other financial losses. This includes doctor visits, surgeries physical therapy, medications as well as assistive devices and any other medical requirements you might require in the future. Your lawyer can estimate the amount by examining your medical records, and getting a prognosis form your doctor. When determining the value of your personal injury claim it is important to take into account any third-party sources of income you have received from sources other than the negligent party. This is known as the collateral source rule and it stops negligent parties from decreasing the amount they have to pay you by subtracting the amount you have already received from other sources of income. Whether you live in a no-fault or tort liability state the value of your personal injury claim will depend on how severe your injuries are as well as how many people were injured in the accident. A personal injury lawyer can help you to understand the no-fault state and fight for all the compensation you're entitled to. No-fault insurance is a requirement in a number of states, including New York. Personal injury protection (PIP) pays for medical expenses and lost wages in the event of an accident. The PIP limits differ from state to state, but in most cases they offer coverage of at least $2,500 for medical bills and a certain amount for lost wages. Damages for suffering and pain In personal injury cases, the aim is to make the victim whole again. This could mean returning them to the financial situation they were in before the accident, including medical bills and repair costs, and compensating the loss of income and other non-economic damages like suffering and pain. The law defines the term “pain and suffering” as a broad term that refers to emotional or physical effects the accident has caused on a person's life. This includes pain and discomfort or mental anguish, loss of vigor or health, as well as the inability to lead a normal lifestyle. These damages that are not economically based are typically more difficult to quantify than the value of other types of damages, like medical bills and lost wages. There are several methods that can be used to determine the monetary value of suffering and pain. Medical records that detail the amount of pain endured by a victim may be a valuable source of evidence. South Bend injury attorney YouTube from victims or their family members can show how the injuries have impacted their lives. Imagine, for instance, that you suffer from an injury that prevents you from going for long runs in your spare time or from participating in your hobbies. You'll probably be able to demonstrate how these activities have impacted your quality of living. In addition, you may have videos or photos that prove your health. These kinds of evidence can be extremely persuasive even if they are not backed by scientific evidence. There are two ways courts assess pain and suffering using the multiplier method as well as the per diem method. The multiplier method involves multiplying a claimant's total economic damages by a number between one and five, whereas the per diem method assigns a financial value to every day that they have suffered from their injuries until they reach “maximum medical improvement.” These methods are not set in stone as juries and judges have a wide range of discretion when deciding to award this type of compensation. As such, it is crucial to know how to establish your claim for suffering and pain to increase your chances of getting an equitable settlement. Loss of wages – Damages Damages for lost wages can be a large portion of a personal injury settlement. This includes all of the time missed from work due to an accident, including weekends and holidays. This includes any tips, bonuses, or commissions that you would have earned during your employment. A forensic economist or other financial expert will usually calculate the cost of these losses. The damages are simple to calculate and can be proved with W-2 and paystubs. You can compare the amount of income prior to your injury and the amount you earned following your injury. You may also be able to add any sick days, vacation days or personal days you had planned to take but weren't able to take due to your injury. This type of compensation can allow you to recover some of the income loss because of your inability to work, or compensate for future losses. You will not receive full amount of compensation if the accident was not a result of an accident. This is due to the fact that there may be an obligation on your account from another person who paid for medical bills or treatment. It can be difficult to prove that you have lost wages if you are self-employed. However your lawyer can consult an expert in finance on this. Experts can estimate your future earnings based upon your current earning capacity. They will take into account aspects like your regular work, the number of working hours per week and the hourly rate. Future loss of earning damages are similar to income loss, however they are based on your ability to make more money in the near future than what you earned in the past. These damages can also be called impairment of earning capacity or loss of future earning potential. These are typically only awarded when it is demonstrated that the injury will significantly and permanently impact your ability to work. General damages are a different kind of compensatory damages. They can be a result of expenses such as suffering and pain. This is a more subjective type of damages that can be difficult to quantify. It is often awarded in addition to the other types of damages, for example medical expenses or lost wages. In order to qualify for this kind of compensation you must prove evidence of physical, emotional and mental distress you have suffered as a result of the accident. This could be an expert report from a doctor or testimony from a psychiatrist or psychologist. Damages to cover future medical costs In personal injury cases, the future medical expenses can be the majority of your settlement. They are difficult to prove and determine. The damages are usually determined by actuarial calculations of your future needs. They can also include the cost of medication and an estimate from a physical therapist of how long you will require treatment, and other factors. You will need to use experts like doctors or therapists to demonstrate future medical expenses. They will testify on the nature of your injury and the likely impact on your life. They will also assist in determining the present value of these expenses. Your lawyer will use this information to present an effective argument for you. Another thing to consider is the loss of income you may experience as a result of your injuries. This could include lost wages bonuses, commissions and benefits. You may also have to pay an attendant or a nurse at home, and you may be entitled to compensation for expense of assistive devices like canes and wheelchairs. Many injured victims require a great amount of ongoing treatment and care following their accident and it can be expensive. This includes physical therapy as well as and occupational therapies. Injured victims are entitled to compensation for these costs, as well as the cost of transport and accommodation to and from appointments. It's also important to think about other non-medical costs associated with your accident, like the loss of enjoyment of activities you enjoyed prior to your injury. This type of damage can be difficult to quantify, but it's still essential to record as accurately as you can. You can seek compensation for these losses by filing an action or settling outside of court. A settlement is negotiating with the insurance company to resolve a dispute without the courtroom. A lawsuit requires a trial, and evidence that the defendant's negligence, or carelessness caused your injury. A personal injury lawyer can help you to determine which path is best for your particular situation.