Top 9 Key Factors That Determine Your Personal Injury Claim Value – Oceanup.com
You can claim compensation in case you sustain injuries due to someone else’s negligence or malicious intentions. However, you must understand that these cases have no one-size-fits-all solution. Every personal injury case is unique; compensation is calculated based on specific factors. Even if you suffer similar injuries to someone else, your compensation value will vary. Compensation is different even in similar cases because it does not rely solely on the injury or accident. It also depends on the impact of the injury or accident on the victim’s life. There are many things that are deeply considered to determine the amount of compensation to award the victim. Solicitors usually factor in these things to determine the extent of damage and impact the injury has on the victim. Apart from physical injuries, you also suffer financially and emotionally after an accident. That is why it is critical to consider all these factors to determine the compensation you can get. Here are key factors that determine the value of your personal injury claim.
1. Injury Severity
The seriousness of the injuries you suffer significantly impacts the value of your claim and how much compensation you should get. Typically, more severe injuries that take long to heal or cause permanent disability have a higher value. It means you will spend more on medical care and time away from work or returning to doing things normally. For example, an injury that leads to amputation or brain damage means you may never get to work. So, if you have suffered an injury that led to the amputation of a part of your body, visit this website to get the help you need to pursue justice and ensure you get fairly compensated. In short, injuries leading to partial or total disability like brain damage, amputation, or diminished mobility get higher settlements.
2. Medical Expenses
Another factor that contributes to the value of your claim is the medical expenses. Once you suffer an injury, you need to get immediate medical care. The medical costs you incur when treating the injuries will be reimbursed in the compensation. You are eligible for payment for the medical expenses that happen as a result of the accident. That included travel expenses, follow-up treatments, and lab tests. If you need ongoing therapy, you must claim its compensation. Make sure you have a doctor’s statement on the severity of the injuries and how much it will cost you before you heal completely. Make sure you preserve evidence for every cost you incur.
3. Lost Employment
Some injuries may result in never returning to the same job. That means you might not work for the rest of your life or have to look for employment elsewhere. Therefore, lost employment is another critical thing that adds value to your claim.
4. Lost Wages
Some injuries result in lost wages, and the employer may decide not to pay you while on leave to recover. Therefore, lost wages must factor in to determine your compensation. Often, the calculation is done weekly. However, suppose you were not employed at the time of the accident. In that case, you cannot claim compensation for lost wages.
5. Emotional Trauma
Another critical factor determining the compensation you receive is the emotional trauma you suffer. Accidents cause more than physical injuries. You also suffer mental and emotional trauma. In past years, emotional damage was not accounted for because it is invisible and difficult to determine its severity. However, professionals today recognize how devastating injuries can be, the emotional stress they cause, and how they impact the quality of life. Therefore, emotional trauma is also an element contributing to compensation value. After the accident, it is crucial to seek help from a counselor. The professional will be able to analyze the extent of emotional damage you have suffered. Their report will be necessary when determining compensation.
6. Lost Benefits
You may lose more than your earnings if you stay away from work. You might also lose other benefits like bonuses and promotions that you would have received before you went on leave. Therefore, the settlement will account for this factor.
7. Cost of Equipment and Structural Adjustment
You may need to use assistive equipment depending on the injuries you incur. Such include a wheelchair, crutches, prosthetic limbs, hearing aid, etc. You might also have to adjust your home or car to accommodate you after the accident. All these elements should be included when calculating the settlement.
8. Property Damage
Property damage calculation involves other damages from the accident. Such include damage to your car, motorcycle, helmet, etc. However, the value of each item will vary. When calculating property damage, professionals use the actual value of each item. Therefore, keeping all the items damaged during the accident is advisable. The insurance company will want to evaluate them before settling.
9. Home Care Cost
You may need to hire someone to care for you after the accident. Hiring a caregiver to look after you costs money. Therefore, you must ensure the expenses are reimbursed with the compensation. If a loved one has to leave work to look after you, ensure it is also included in the calculation. You can also get reimbursed for daycare costs if you have children that you can no longer be able to take care of. Therefore, ensure home are cost in part of the calculation.
Get the Compensation You Deserve with the Help of a Lawyer
These are critical factors accounted for when calculating the value of a personal injury claim. These factors make every case unique, hence the need to approach it with the perspective. Most importantly, you need to provide your lawyer with every detail, no matter how irrelevant it may seem. It will help determine how the accident has impacted your life and how much compensation will be enough to cover the loss you incur. Your lawyer will factor in everything to calculate your compensation so that you get the maximum amount you deserve. Remember, the more serious the injuries impact your life, the higher the value of your personal injury compensation.
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