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What Is Your Personal Injury Claim Worth? If you've been injured as a result of an accident, you may be entitled to compensation. A personal injury lawyer can help you determine the worth of your claim. The amount of compensation that you will receive is determined by the severity of your injuries and several other factors. Most compensation awards will include financial damage, like reimbursement for medical treatment as well as compensation to cover future medical treatment. No-fault system The no-fault system in New York is designed to help victims recover damages for medical expenses and other financial losses. However, the system does not cover damages that are not monetary such as suffering and pain. To receive the amount they are due victims may need to bring a lawsuit. A skilled attorney can guide you through the process of obtaining compensation to pay your bills following an accident, and help get you back on your feet. The degree and severity of the injury can determine the value of your claim. Injuries that result in permanent impairment or disfigurement are likely to have a higher value than those that don't. In addition, the extent to which your injuries have impacted your quality of life also boost the value of your claim. It is important that you record all of your medical expenses and financial losses to receive the full amount of compensation. This includes doctor's visits and surgeries, physical therapists as well as assistive equipment, medications, and any other future medical requirements. Your lawyer can calculate this number by reviewing your medical records and getting an estimate from your doctor. It is crucial to consider any income you might have received from a third party other than the responsible party when determining the amount for your personal injury claim. This is referred to as the collateral source and it prevents negligent parties from cutting your compensation by removing the amount you've already received from other sources of income. If you reside 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 injured in the accident. A strong personal injury attorney can help you understand the no-fault system, and fight to get the full amount of amount of compensation you are entitled to. In a number of states, including New York, no-fault insurance coverage is required. Personal injury protection (PIP) will pay for medical expenses and lost wages in the event of an accident. The limits for PIP vary from state to state but the majority provide at least $2,500 of coverage for medical bills and a slender amount of coverage for lost wages. Damages for pain and suffering 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 prior to the accident, assisting with medical expenses and car repair costs, and compensating them for lost income, and other non-economic damages like suffering and pain. The law defines pain as a broad term that encompasses emotional or physical effects on an individual. This includes physical pain, mental anguish and diminished health or vigor. These damages that are not economic can be more difficult to quantify when compared to other types of damages like medical bills or lost wages. There are several ways to use in order to determine the value of pain and suffering. For example medical records that demonstrate the extent of a person's pain can be a valuable evidence. The testimony of a victim or a family member, can be a good indicator of how the injuries affected their lives. Imagine, for example, that you are injured and unable to run for long distances or participate in your hobbies. You'd probably be able show how these activities have affected your standard of life. You might also have photos or videos that show your condition. These types of evidence could be extremely persuasive to a jury even if they're not backed by scientific proof. There are two methods that courts calculate the amount of pain and suffering: the multiplier method and the per diem method. Shreveport injury attorney YouTube involves multiplying claimant's economic damages by between one and five. The per diem method allocates a specific amount to each day of suffering and pain until the claimant is at “maximum improvement”. These methods are not established in stone as juries and judges have wide discretion when awarding this kind of compensation. This is why it's essential to know how to establish your claim for pain and suffering in order to increase your chances of receiving an equitable settlement. Compensation for lost wages A large part of a personal injury claim can be damages for lost wages. This includes all time lost from work due an accident, even holidays and weekends. This includes tips, bonuses, or commissions that you earned during your employment. A forensic economist or another financial expert will typically calculate the cost of these losses. The damages are generally easy to calculate and can be proved with W-2 forms, paystubs, and other employee records. These can be compared to the amount of income you earned prior to your injury to demonstrate the difference. It could be possible to include any vacation, sick or personal days you planned to take but had to forgo due to the injury. This type of compensation can assist you in recovering some of the lost income because of your inability to work, or compensate for future losses. You won't receive your full compensation if your injury hadn't happened. This is because there may be a lien on your account from another person who paid for medical bills or treatments. If you are self-employed, it could be more difficult to prove that you have lost wages However, this is a matter that your lawyer can discuss with a financial advisor. They can help you estimate your future income in relation to your current earning capacity. They will consider factors such as your usual work schedule, the amount of hours you work each week and your hourly wage. Future losses of earnings damages are similar to past loss of income but they are determined by your capacity to earn in the future rather than what you earned previously. These damages can also be referred to as impairment of earning capacity or loss of future earning potential. These are typically only awarded when it can be shown that the injury will significantly and permanently limit your future ability to work. General damages are another type of compensatory damages. They may include expenses such as suffering and pain. This is a subjective type of damages, which is difficult for the court to quantify. It is often awarded in addition to the other types of damages like medical expenses and lost wages. In order to be eligible for this kind of compensation you must show evidence of physical, emotional and mental stress that you've experienced as a result of the incident. This could include a doctor's report or an expert's testimony from a psychologist or psychiatrist. Damages for future medical expenses In personal injury cases, the future medical expenses could be the majority of your settlement. However, they can be difficult to calculate and prove. These damages are often calculated based on the future requirements. These damages may also include the cost of medications, an estimate from an PT of how long the treatment will take as well as other factors. You will have to rely on experts such as doctors or therapists to demonstrate future medical expenses. They will testify about the nature of your injury, and its expected impact on you in the future. They will also aid you in determining the value of these expenses. Your lawyer will use this information to make an effective argument on your behalf. Another factor to consider is the loss of income that you could face as a result of your injuries. This can include lost income, commissions, benefits, and bonuses. Additionally, you could need to pay for an in-home care nurse or attendant and may be entitled to compensation for the cost of assistive devices, like walkers, wheelchairs, and canes. Many injured victims require a amount of ongoing medical and treatment following an accident and it can be expensive. This includes physical therapy, therapy and occupational therapy. The injured victims are entitled to compensation for these expenses in addition to the cost of transport and accommodation for their journey to and from their appointments. It's also important to think about other costs that are not medically related to the accident, for instance the loss of enjoyment of activities you enjoyed before your injury. This type of damage can be difficult to quantify, however it is still important to record as accurately as you can. You can pursue the losses in two ways either through a settlement or lawsuit. A settlement involves negotiating with the defendant or insurance company to resolve a dispute outside of the courtroom. A lawsuit requires a trial and evidence that the defendant's negligence, or carelessness, caused your injury. An attorney who specializes in personal injury cases can help you decide the best path for your situation.