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What Is Your Personal Injury Claim Worth? If you've been injured in an accident, you could be entitled to compensation. A personal injury lawyer can help you determine what your claim is worth. The amount of compensation that you get is determined by the severity of your injury and various other factors. The majority of compensation awards cover economic damages, like reimbursement for medical treatment as well as reimbursement for future medical treatment. No-fault system The no-fault system in New York is designed to help victims recover compensation for medical expenses as well as other financial losses. The system does not pay for damages that are not monetary, such as pain and discomfort. Consequently, victims may need to start a personal injury lawsuit in order to receive the compensation they deserve. An experienced attorney can help you through the process of getting the money you need to pay for your expenses after an accident and help you get back on your feet. The value of your personal injury claim can be determined by the severity and type of your injuries. Injury claims that result in permanent disability or disfigurement are more valuable than those that don't. The extent to which you've been impacted by your injuries will also raise the value of your claim. It is crucial to keep track of all your medical expenses and financial losses to receive full compensation. This includes doctor's appointments and surgeries, physical therapists and medications, assistive equipment, and any other future medical requirements. Your lawyer can calculate this number by reviewing your medical records and obtaining a prognosis from your physician. In determining the worth of your personal injury claim, it is crucial to take into account any income sources from third parties you have received from sources other than the negligent party. This is called the collateral source rule and it prevents the negligent parties from reducing the amount they must pay you by subtracting money you have already received from other sources of income. If you reside in a no fault or tort liability state, the value of your personal injury claim will be contingent on how serious your injuries are and the number of people injured in the accident. A personal injury lawyer can help you to understand the no-fault state and fight for all the compensation you deserve. In many states, such as New York, no-fault insurance coverage is mandatory. Known as personal injury protection (PIP), this kind of insurance covers your medical expenses and lost wages in the event that you are injured in an accident, regardless of who caused the accident. PIP limits vary from state to state but in most cases they provide coverage of at least $2,500 for medical expenses and a certain amount for lost wages. Damages for pain and Suffering In personal injury cases, the aim is to make a victim whole again after an accident. This can include restoring them to their financial position before the accident. It could also involve paying for medical bills, car repair costs and compensating them if they lost income. The law defines pain and suffering as a broad category of emotional or physical effects the injury has had on a person's life. This includes discomfort and pain and mental anguish, as well as loss of energy or health, and the inability to lead the normal life. These damages that are not economically based are typically more difficult to quantify than the value of other damages, such as medical bills and lost wages. There are many methods that can be used to determine the monetary value for suffering and pain. For instance medical records that demonstrate the extent of a victim's suffering can be an important piece of evidence. Witnesses from victims or family members could be used to prove how the injuries have impacted their lives. Imagine, for instance that you're injured and unable to run long distances or engage in your activities. You would probably be able to prove how these activities have impacted your quality of life. You may also have photos or videos that illustrate your current condition. These kinds of evidence can be extremely persuasive, even if it is not backed by scientific proof. There are two common ways that courts calculate the amount of pain and suffering using the multiplier method as well as the per diem method. The multiplier method involves the claimant's total economic damages by a figure between one and five, whereas the per diem method assigns a monetary value to every day that suffers from their injuries until they reach “maximum medical improvement.” These methods aren't fixed, and judges and jury members have wide discretion in determining the amount of compensation they award. It is therefore crucial to be aware of the best way to prove your claim for suffering, pain and other damages to improve your chances of receiving a fair settlement. Damages for lost wages Damages for lost wages could be a significant part of a personal injury settlement. This includes all of the days off from work that are lost because of an accident, including holidays and weekends. Also, bonuses, commissions and tips that would have been earned through the job. A forensic economist or a financial expert usually calculates the cost of these losses. These damages are typically easy to calculate and can be proved with paystubs, W-2 forms, and other records from employers. These can be compared to the amount of money you earned prior to your injury to demonstrate the difference. It could be possible to also include any sick, vacation, or personal days that you had planned to use but were unable to use because of the injury. This kind of compensation could help you recover some of the income loss due to your inability of work, or even pay for future losses. However, you may not get the full amount you would have received if your injury hadn't occurred, because there could be a lien from the other parties who have paid for medical or treatment bills. 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. Experts can estimate your future earnings based on your present earning capacity. They will take into consideration things like your typical work, the number of working hours per week, and your hourly wage. Future loss of earnings damages are similar to past income loss but are dependent on the amount you can earn in the future, rather than what you earned before. These damages may also be referred to as impairment of earning capacity or loss of earning potential in the future. They are typically only granted when it is proven that the injury will significantly and permanently limit your future ability to work. General damages are a different type of compensatory damage. They may include expenses such as pain and suffering. This is a more subjective category of damages that can be difficult to quantify. New York injury lawsuit is often awarded in addition to the other types of damages, like medical expenses and lost wages. In order to be eligible for this type of damage you must prove evidence of physical, emotional and mental distress you've endured as a result the incident. This could be a doctor's report or an expert testimony from a psychiatrist or psychologist. Damages for future medical costs In personal injury lawsuits, the future medical expenses can constitute an important part of your settlement. They are often difficult to prove and calculate. These damages are often calculated based on your future needs. These damages could also include the cost for medication, an estimate by a physical therapist of how long the treatment will last as well as other factors. You will have to rely on experts like doctors or therapists to prove future medical expenses. These experts will testify about the nature of your injury as well as its expected impact on your future life. They will also aid you in determining the current value of these expenses. Your attorney will then utilize this information to present a convincing argument on your behalf. You should also think about the income loss that you'll be suffering as the result. This could include loss of income, commissions, benefits, and bonuses. There may be a need to pay an attendant or nurse in your home, and you may be entitled to compensation for the cost assistive devices such as wheelchairs and canes. Many injured victims require a great deal of ongoing treatment and care following their accident, which can be extremely expensive. This includes therapy, physical and occupational therapy. These costs, including transportation and accommodation costs for travel to appointments and back, are covered by compensation for injured victims. It's also important to think about the non-medical expenses that may be associated with your accident, like the loss of enjoyment of activities you were enjoying prior to your accident. This is a type of damage that can be difficult to quantify, however it's still important to document it as accurately as possible. You can seek compensation for these losses by filing a lawsuit or settling out of court. A settlement is negotiations with the defendant or insurance company to resolve a dispute 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.