There is no magic formula that can tell you how much your claim is worth since its value depends on so many different factors. This is why personal injury attorney Roberts recommends that you speak to a personal injury attorney to schedule a free case evaluation since that is the only way you will learn what your chances are of receiving the settlement that you deserve. You could win hundreds of thousands of dollars in your claim, depending on the severity of your injuries and property damage.
What types of damages am I eligible to receive?
Accident victims are generally entitled to compensatory damages such as economic and non-economic damages. Economic damages compensate you for the financial losses you suffered as a result of the accident. If you went to the hospital, needed surgery after your accident, required physical therapy or prescription medications, you will be compensated for those by the liable party. You will also be compensated not only for the time you have already missed from work, but the time you are expected to continue missing work, or if you need to change industries completely because your injuries render you completely unable to work. Other types of economic damages depend on the type of accident. For example, if you were involved in an auto accident and your car was totaled, then you will be compensated the amount that the car is valued at.
Non-economic damages compensate you for your pain and suffering. Although no amount of money can ever bring back your quality of life, the law allows you to recover damages from the emotional distress, mental anguish, and physical agony you experienced as a result of your injuries. These intangible losses are harder to quantify, but a personal injury attorney argues for you to get the most out of your case.
How is the settlement amount calculated?
Economic damages are relatively straightforward to calculate – you add them up based on your actual expenses. Your non-economic damages are more difficult to calculate, but there is a general method that is used to come up with a number, and it’s based on the severity of your injuries and suffering.
After calculating your economic damages and coming to a total, that number is multiplied by a factor between 1.5 and 5, depending on the severity of your suffering. If you suffered minor injuries and minor damage to your car, your multiplier could be as low as 1.5 or 2. However, if you suffered the loss of the use of an organ or limb or require months or years of physical therapy to regain the abilities you used to have, your multiplier could be as high as 4 or 5. In wrongful death cases, the multiplier could even be as high as 10.
For example, if you and a family member were injured in a car accident that required both of you to undergo surgery and physical therapy with medical expenses totaling $100,000, then you could receive a settlement of at least $400,000 or maybe even more if the family member was a minor. The sooner you talk to a personal injury attorney, the sooner you will know for sure and receive your compensation for your damages.
