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What Is Your Personal Injury Claim Worth? You may be eligible for compensation if you were injured in an accident. A personal injury lawyer can assist you understand what your claim is worth. The amount of compensation that you receive is determined by the severity of your injury and several other factors. The majority of compensation awards cover economic damages, such as reimbursement for medical treatment as well as compensation for future medical care. No-fault system The no-fault system in New York is designed to help victims recover the costs of medical expenses and other financial losses. The system does not cover damages that are non-monetary like pain and discomfort. In order to get the amount of compensation they deserve victims may need to file a lawsuit. A knowledgeable lawyer can guide you through the process of obtaining the compensation you require to pay your bills and get back on your feet after an accident. The value of your personal injury claim could be determined by the severity and nature of your injuries. Injury claims that result in permanent impairment or disfigurement are more valuable than those that don't. The degree to which you've been impacted by your injuries will also increase the value of your claim. To receive the full amount of compensation for your injuries, it's important to have proof of the total amount of your medical expenses and other financial losses. This includes doctor's appointments and surgeries, physical therapists and medications, assistive equipment, and any other future medical needs. Your lawyer will be able calculate this number by reviewing your medical records and obtaining an estimate from your doctor. In determining the value of your personal injury claim it is important to take into account any third-party sources of income you have received from sources other than the negligent party. This is known as the collateral source rule and it prevents the negligent parties from reducing the amount they must pay you by removing money you have already received from other sources of income. The value of a personal injury claim depends on the extent of your injuries as well as the number of people injured in the accident. A reputable personal injury lawyer can assist you in understanding the no-fault system and help you fight for the full amount of compensation you are entitled to. No-fault insurance is required in a number of states including New York. Personal injury protection (PIP) will pay for medical bills and lost wages in the event of an accident. The limits for PIP vary from state to state however, most states offer coverage of a minimum of $2,500 for medical bills and a certain amount for lost wages. Damages for pain and suffering In personal injury cases, the goal is to make the victim whole after an accident. This could mean returning the victim to the financial situation they were in prior to the accident, assisting with medical bills and repair costs, and compensating the loss of income and other damages that are not economic, such as pain and suffering. 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 or mental anguish, loss of energy or health, and the inability to lead a normal lifestyle. These non-economic damages are often more difficult to quantify than the value of other damages, like medical bills and lost wages. But there are several methodologies that can be used to help determine the monetary value of pain and suffering. For example medical records that reveal the severity of a victim's suffering can be an important evidence. You Tube of a victim or family members could be used to prove how the injuries have affected their lives. Imagine, for instance, that you've suffered an injury that has stopped you from going for long runs in your spare time, or from engaging in your favorite hobbies. You'll likely be able to show how these activities have affected your quality of living. You might also have photographs or videos that demonstrate your health. These types of evidence can be very persuasive to a jury, even if they are not backed by scientific proof. The multiplier method as well as the per diem method are two of the most frequently used methods courts use to evaluate pain and suffering. The multiplier method involves multiplying a 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 suffers from their injuries until they reach “maximum medical improvement.” These methods are not set in the stone of law as juries and judges are free to decide on this type of compensation. This is why it's important to understand how to prove your claim for pain and suffering in order to increase your chances of receiving a fair settlement. Compensation for lost wages Damages for lost wages can be a large portion of a personal injury award. This includes all time lost from work due an accident, and even weekends and holidays. This includes any bonuses, commissions and tips that you could have earned while working. A forensic economist or a financial expert usually calculates the cost of these losses. These damages are easy to calculate, and can be proven with paystubs and W-2 forms. You can look at the amount of income you earned before your injury with the amount you earned after. You might also be able to include any vacations, sick days or personal time off that you planned to take but were not able to do due to the injury. This type of compensation can allow you to recover some of the money you've lost due to your inability to work. It could even cover future losses. However, you may not receive the full amount that you would have received if the injury hadn't occurred, because there could be a lien from other parties who have paid for medical or treatment expenses. If you are self-employed, it can be more difficult to prove the loss of wages, but this is something that your attorney can discuss with a financial expert. They can estimate your future earnings based on your current earning capacity. They will consider things like the kind of work you usually perform, the amount of hours you normally work during the week, and your hourly rate. Future losses of earnings damages are similar to the past income loss, but they are based on your capacity to earn more money in the near future than the amount you earned in the past. These damages may also be called 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 permanently and severely limit your capacity to work in the future. Another type of compensatory damages is known as general damages and can include costs such as pain and suffering. This is a subjective category of damages that can be difficult for the court to quantify. It is usually awarded in addition to the other types of damages for example medical expenses or lost wages. In order to be eligible for this kind of compensation, you must provide evidence of the physical, emotional, and mental distress that you have endured as a result the accident. This could include a doctor's report or an expert testimony from a psychiatrist or psychologist. Damages for future medical expenses In personal injury lawsuits, the future medical expenses can be a substantial part of your settlement. They are often difficult to prove and calculate. These damages are typically calculated based on your future needs. They could also include the cost of medications, an estimate from a physical therapist of how long you will require treatment, and many other factors. You will need to use experts such as doctors or therapists to demonstrate future medical expenses. They will testify regarding the nature of your injury and its likely impact on your life. They will also assist you determine the current worth of the expenses. Your lawyer will then use the information to create an argument convincing on your behalf. Another thing to consider is the loss of income that you will experience as a result of your injuries. This could include lost earnings bonuses, commissions, and benefits. In addition, you may require a home-care attendant or nurse and may be entitled to compensation for the costs of assistive devices, like walkers, wheelchairs, and canes. After an accident, a lot of injured victims require receiving medical treatment and care. This can be extremely expensive. This includes therapy, physical and occupational treatment. These costs, including the cost of transportation and accommodation to and from appointments, are covered by the compensation provided to injured victims. Think about other costs in addition to medical expenses, for example lost enjoyment of activities that you were able to enjoy prior to your injury. The extent of the damage could be difficult to quantify, however it's still essential to document your injuries as precisely as you can. You can seek to recover these losses in two ways one of which is a settlement or lawsuit. A settlement is a bargain with the defendant or their insurance company to settle a dispute outside of court. A lawsuit requires a trial and proof that the defendant's negligence or inattention, caused your injury. A personal injury lawyer will help you determine which path is best for your case.