Each personal injury lawsuit is unique, but insurance service providers, attorneys, and juries review the same factors to determine the value of a personal injury claim. Some factors can be assigned monetary value easily while cannot. For instance, if you incurred $13000 in medical expenses, you will ask for that amount to compensate for those expenses. However, calculating the value of the time you endured pain is very challenging.
Note that the Georgia state law does not offer a specific formula to insurance companies, lawyers, and juries. Thus, the value of your pain and suffering is subjective and definitely open to debate. This is the reason Ponton Law advises people seeking compensation for injuries and other damages to work with an experienced lawyer. To estimate the value of your claim, it is essential to consider the following.
Economic damages are the monetary losses you experienced because of the injuries you suffered. These damages include;
1. Medical bills
Medical bills include all your past, current, and the future medical expenses associated with your injury. All costs of blood tests, surgical procedures, emergency room visits, prescription drugs, physical therapy, medical imaging, durable medical equipment you require because of the injury, and more must be included in your claim.
Severe injuries lead to substantial medical expenses and are associated with a larger amount of personal injury settlement. However, sometimes this might not be the case especially if you don’t have an attorney to represent you. For instance, whiplash and other soft tissue injuries might result in severe health challenges, but most insurance companies view them as less severe than broken legs and other broken bones.
2. Documentation of medical expenses
It is advisable to seek medical attention immediately after an accident. A medical professional will conduct a thorough examination of your injuries. All the details regarding your injuries should be documented perfectly because you will need that information to prove that you have a valid personal injury claim.
Acquire copies of your medical treatment and the related expenses. In addition to the report you get from your doctor, consider saving your medical payment receipts. This will serve as a piece of evidence that you have spent a certain amount of money while being treated.
3. Lost wages
In case you have missed work because of the injuries, or you can never go back to work, you are legally entitled to fair compensation for your lost wages. Depending on the nature of your injury, you may be entitled to wages or salary in the future.
4. Property damage
This is commonly associated with car crash claims. If your vehicle was involved in an accident caused by another negligent driver, you might be entitled to compensation for property damages to fix your vehicle. Note that personal injury claims may also cover other out-of-pocket expenses. For instance, if you cannot handle your yard work because of the injury and you have to hire someone to do so, you may include such expenses in your claim.
It is hard to determine non-economic damages because you cannot associate them with monetary value. Some of the non-economic damages include pain, mental suffering, partial or permanent disability caused by accident, and more. Hiring a lawyer with experience in handling such cases can boost your chances of getting fair compensation for both economic and non-economic damages.