Determining or figuring out the exact amount of money that you have lost from an accident is hard to calculate. There is no such formula by which you can determine the perfect amount. Because every case is different, and the settlement also different based on the circumstances or the situations.
If you ever were involved with an accident and suffered from it. Then you may wonder how much compensation you can recover from that injury claim. So the question arises how to determine the value of your injury case?
Here's we are going to discuss how to determine the value of a personal injury case based on loss, pain, suffering, and so on. So keep reading!
How to Determine the Value of a Personal Injury Case
No matter, what was the incident if you were involved with an accident. You will definitely have some losses. And generally, the insurance company uses the word 'damage' to describes the losses. There are generally two categories of damages.
1. Special damage:
This kind of damage also refers to economic losses. These kinds of damages are related to your physical property or wages loss. Also, it includes the money that you have lost in the accident. Also, it includes the medical bills and the losses of your assets or wages.
2. General damages:
This damage also refers to non-economic losses. This damage includes the losses that you have emotionally suffered and will continue to suffer in the future. For example, pain, emotional distress, mental trauma, and so on.
So let's know how to calculate the compensation for these damages.
Calculating the special damages:
The special damages calculation is determined by adding the total hard costs that occurred from the injury. And the damages include the actual amount of;
• The past and future lost assets or wages
• Hospital bills, including all the nursing and therapy bills
• Medication and transportation costs for the hospital
• Damages of personal items or assets
• Replacement costs such as; housekeeping or yard work
The total costs of your special damages are just the basis of a personal injury value calculation. You will not get a fair injury claim without the hospital bills.
So make sure that you include all hospital bills and the future healthcare bills, for example, the X-ray bills, MRI, CT scans, and so on. Sometimes these services cost more than one bill.
Calculating the general damages:
In most of the cases, general damages are so difficult to assess. Because there are no objective measurements or physical pieces of evidence for your sufferings, but each personal injury case is different from others. The pain and suffering that you had will not be as same as the case of the others.
Two people can have the same injury but a different level of mental stress. And one may experience more mental traumas than the other. One may recover with the depression, and others may not. So, typically the general damages include in some pain and suffering. Which are;
• Mental distress
• Emotional stress
• Depression and anxiety
• Irregularity in sleeping
• Loss of companionship
You may need to multiply the total of your special damages with one or two to get a fair settlement for your pain and suffering. Most of the insurance companies will consider a multiple of one or two times of your special damages claim.
Special personal injury case calculation:
In some cases, a personal injury case may hold and worth a huge dollar claim. In those several cases, you may need to hire a personal injury lawyer to get a fair settlement. Assigning a claim for the general damages is entirely personal. And the claim will assess by the depth of pain and suffering.
While calculating a huge dollar claim, it would be applicable for some cases. Those cases are as follow;
1. Extreme mental trauma:
In this case, you will have extreme mental trauma from the accident or the injury. And sometimes, it is very easy to prove if the suffering was hard. Because you can gather and collect all the necessary documents of your mental health by a medical professional.
2. Permanent or long term injury:
Generally, long term injury may require long term treatment. Sometimes a permanent injury can cause your permanent physical inability. These kinds of complex wounds are included paralysis or amputations. And these types of injuries can hold a huge amount of settlement.
3. Shocking incident:
In some cases, the victim may witness some serious incident that gives them a mental shock. Some mental injuries are also known as shocking events. Such as; being trapped, plane or vehicle crashes, gun shootings, and so on.
Calculation of an insurance company and an injury lawyer:
Many insurance companies try to save their money and pay less by showing their tricky insurance policies. They try to give you an average settlement, no matter how serious your injury is. Moreover, they always use computerized injury calculators for the injury settlement.
On the other hand, a personal injury lawyer can help you to fight against the insurance company because they know the tricky business strategies of an insurance company. They will also provide you the necessary advice for your claim. And an injury lawyer will ensure you the possible compensation from your injury claim.
The bottom line:
No matter how serious or tiny your injuries are, do not waste your time to claim a settlement. Insurance companies are notoriously known for offering lower settlements. So it is always better to find a professional personal injury lawyer.
There is plenty of injury lawyers in your area (i.e., injury lawyers Edmonton
). All you have to do is to find the experienced and trustworthy one for you. Hopefully, the above writing will help you to figure out the value of a personal injury case.