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What Is Your Personal Injury Claim Worth? You may be entitled to compensation if you were injured in an accident. An attorney for personal injuries can assist you in determining the value of your claim. The amount of compensation you receive is contingent upon the severity of your injuries as well as a number of different factors. The majority of compensation awards cover economic damages, like reimbursement for medical treatments and reimbursement for future medical treatment. No-fault system The system of no-fault in New York was designed to help victims recover damages from medical expenses and other financial losses. However, the system does not cover damages that are not monetary such as pain and suffering. To receive the amount they are due, victims may have to make a claim. A knowledgeable attorney can guide you through the process of getting compensation to cover your expenses following an accident, and help get you back on your feet. The value of your personal injury claim can be determined by the severity and type of your injuries. Injury that causes permanent impairment or disfigurement are likely to be more valuable than those that don't. The degree to which you've been impacted by your injuries will also raise the value of your claim. It is essential to keep track of all your medical expenses and financial losses in order to receive full compensation. This includes doctor's appointments as well as physical therapy, surgery, medications, assistive equipment, and any other future medical needs. Your lawyer can determine this amount by reviewing your medical records and obtaining a prognosis from your doctor. It is crucial to take into consideration any income that you may have received from other sources other than the negligent party when determining the value for your personal injury claim. This is known as the collateral source rule and it prevents negligent parties from decreasing the amount they have to pay you by removing the amount you have already received from other sources of income. The value of a personal injury claim depends on the severity of your injuries and the number injured in the accident. A reputable personal injury lawyer can help you understand the no-fault system, and fight to get the full amount of settlement you're entitled to. In many states, including New York, no-fault insurance coverage is mandatory. Also known as personal injury protection (PIP) is a type of insurance pays for your medical expenses as well as lost wages if injured in an accident, regardless of who caused the accident. The PIP limits differ from state to state, however, most states provide coverage of at least $2,500 for medical bills as well as a limited amount 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 the victim to the financial situation they were in prior to the accident, including medical bills and car repair costs, compensating the loss of income and other non-economic damages like pain and suffering. The law defines the term “pain and suffering” as a broad category of physical or emotional impacts that the injury has caused to the person's life. This includes mental anguish, physical pain and loss of health or vigor. These damages that are not economic can be more difficult to quantify when compared to other damages, such as medical bills or lost wages. There are many methods that can be used to help determine the value of pain and suffering. For example medical records that demonstrate the extent of a victim's suffering can be a valuable piece of evidence. Testimony from a victim or family members could be used to prove how the injuries have affected their lives. Imagine, for instance, that you have an injury that has stopped you from doing long runs in your spare time, or from engaging in your hobbies. You would probably be able to show how these activities have impacted your life quality. You might also have photos or videos that demonstrate your health. These kinds of evidence are very convincing even if not backed up by scientific proof. There are two ways that courts determine pain and suffering using the multiplier method and the per diem method. The multiplier method involves the claimant's total economic damages by a figure between one and five, while 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 aren't set in stone as jurors and judges have wide discretion in determining the amount of compensation they grant. It is therefore crucial to be aware of the best way to prove your claim for suffering, pain and other damages, to increase your chances of receiving an equitable settlement. Compensation for lost wages A large part of a personal injury settlement could be compensation for lost wages. This includes all of the time missed from work because of an accident, including holidays and weekends. It also includes commissions, bonuses and tips that could have been earned through the job. The amount of these losses is usually determined by a forensic accountant or other financial expert. These damages are usually easily calculated and can be established using pay stubs, W-2 forms and other records from employers. These can be compared with the amount of money you earned prior to your injury to determine the difference. You may also be able include any sick days, vacation days or personal days you had planned to take but were unable to due to the injury. This type of compensation can help you recover some of the income loss due to your inability to work, or compensate for future losses. However, you may not receive the entire amount you would have received had your injury had not occurred, because there is likely to be a lien from other parties who paid for treatment or medical bills. If you are a self-employed person, it may be more difficult to prove that you have lost wages However, this is a matter that your lawyer can discuss with a financial expert. Tempe injury attorneys can estimate your future earnings based on your current earning capacity. They will consider factors such as your usual work schedule, the amount of working hours per week and the hourly rate. Future losses of earnings damages are similar to past income loss, but they are determined by your capacity to earn in the future, rather than on what you actually earned in the past. These damages can also be referred to as impairment of earning capacity or loss of earning potential in the future. They can only be granted if it is proved that the injury will last for a long time and severely limit your capacity to work in the future. General damages are a different kind of compensatory damages. They can be a result of expenses such as pain and suffering. This is a more subjective class of damages that are difficult to quantify. It is often given in addition to other types of damages, such as medical expenses and lost wages. In order to be eligible for this type of damage you must show evidence of emotional, physical, and mental distress that you've suffered as a result of the incident. This could be the report of a doctor or testimony from a psychiatrist or psychologist. Damages for future medical costs In personal injury lawsuits, future medical expenses can be an important portion of the settlement. They can be difficult to prove and calculate. These damages are typically calculated based on your future requirements. They could also include the cost of medication and a physical therapist's estimate of how long you'll need treatment, and many other aspects. You will have to rely on expert witnesses such as doctors or therapists in order to prove future medical expenses. These experts will testify regarding the nature of your injury, and its expected impact on you in the future. They will also assist you to determine the present worth of the expenses. Your lawyer will utilize this information to make an effective argument on your behalf. It is also important to consider the loss of income you'll be suffering as consequence. This could include lost income such as commissions, benefits and bonuses. There may be a need to pay a home-care nurse or attendant, and you may be entitled to compensation for costs of assistive devices, such as canes and wheelchairs. After an accident, a lot of injured victims must continue receiving medical treatment and care. This can be extremely expensive. This includes physical therapy, therapy and occupational therapy. These costs, including transportation and accommodation costs for travel to appointments and back, are covered by the compensation provided to injured victims. Think about other costs in addition to medical expenses, such as the loss of enjoyment in activities you previously enjoyed prior to your injury. This area of damage can be difficult to quantify but it's still essential to document your injuries as precisely as you can. You can seek to recover the losses in two ways either through a settlement or lawsuit. A settlement is a negotiation with the defendant or their insurance company to settle an issue outside of court. A lawsuit on the other hand, requires a trial and proof that your accident was the result of the negligence or reckless actions. An attorney for personal injury can help you determine the best path for your particular situation.