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What Is Your Personal Injury Claim Worth? If you've been injured as a result of an accident, you may be entitled to compensation. A personal injury lawyer can help determine what your claim is worth. The amount of compensation that you get is determined by the severity of your injury as well as several other factors. Most compensation awards include economic damages, such as reimbursement of medical treatment and compensation to cover future medical expenses. No-fault system The no-fault system in New York is designed to assist victims in recovering damages for their medical expenses as well as other financial losses. This system doesn't cover damages that are non-monetary, such as pain and discomfort. Therefore, victims may have to make a personal injury claim to obtain the amount they are due. An experienced lawyer can assist you in the process of obtaining the money you need to pay your bills and get back on track after an accident. The degree and severity of the injury can determine the value of your claim. Injuries that result in permanent impairment or disfigurement are likely to be more valuable than those that don't. Additionally the degree to the extent that your injuries have affected your life quality will also increase 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 visits, surgery physical therapy, medications as well as assistive devices and any other medical treatment you may require in the future. Your lawyer can calculate this number by reviewing your medical records and getting an opinion from your doctor. It is crucial to consider any income that you may have received from other sources other than the responsible party when determining the value for your personal injury claim. This is known as the collateral source rule and it stops negligent parties from cutting the amount they have to pay you by removing the money you already received from other sources of income. Whether you live in a no fault or tort liability state, the value of your personal injury claim will be contingent on how severe your injuries are as well as how many people were injured in the accident. A personal injury lawyer can assist you understand the no fault state and fight for all the compensation you're entitled to. No-fault insurance is required in many states including New York. Personal injury protection (PIP) covers medical bills and lost wages in the event of an accident. The limits for PIP vary from state to state, however, most states provide coverage of at least $2,500 for medical bills and a small amount for lost wages. Damages for pain and Suffering In personal injury cases, the aim is to make the victim whole again after an accident. This may include getting them back to their financial situation prior to the accident. It could also mean paying medical bills, car repair costs and compensating them for lost income. The law defines suffering and pain as a broad category of physical or emotional impacts that the accident has caused on the life of a person. This includes discomfort and pain, mental anguish, loss of vigor or health, and inability to enjoy a normal lifestyle. These non-economic damages are more difficult to quantify when compared to other types of damages such as medical bills or lost wages. There are many methods that can be used to determine the monetary value of suffering and pain. For instance medical records that demonstrate the severity of a victim's pain can be a valuable piece of evidence. The testimony of a victim or their family member can also show how injuries impacted their lives. Imagine, for instance that you're injured and unable to run for long distances or take part in your favorite activities. You'll likely be able to demonstrate how these activities have impacted your quality of life. You may also have photos or videos that illustrate your health. These types of proof can be very persuasive even if they are not supported by scientific proof. There are two methods that courts calculate pain and suffering using the multiplier method as well as the per diem method. YouTube is based on multiplying the claimant's economic damages by one and five. The per diem method allocates a specific amount to each day of pain and suffering until the claimant has reached “maximum improvement”. These methods are not fixed as judges and jury members have the freedom to decide the amount of compensation they grant. It is therefore important to understand how to demonstrate your claim for pain, suffering and other damages to improve your chances of receiving a fair settlement. Compensation for lost wages Damages for lost wages can be a significant part of a personal injury settlement. This includes any time that you are unable to work because of an accident, even holidays and weekends. It also includes commissions, bonuses, and tips that would have been earned through the job. The value of these losses is typically calculated by a forensic economist or another financial expert. These damages are usually easily calculated and can be proved with W-2 forms, paystubs, and other employee records. These can be compared to the amount of income you made prior to your injury to show the difference. It is possible to also include any vacation, sick or personal days you had planned to use but had to forgo because of the injury. This type of compensation may allow you to recover some of the lost income due to your inability to work, or even pay for any future losses. You will not receive full amount of compensation if the accident hadn't happened. This is due to the fact that there could be a lien on your account from another party who paid for medical bills or treatments. If you are a self-employed person, it may be more difficult to prove the loss of wages, but this is something which your attorney can discuss with a financial expert. They can estimate your future earnings based on your current earning capacity. They will take into consideration things like your typical job, the number of working hours per week and the hourly rate. Future loss of earnings damages are similar to the past loss of income but they are based on your ability to earn in the future, rather than on what you actually earned in the past. They may also be referred to as loss of future earning capacity or impairment of earning potential. They can only be granted if it is proved that the injury will be permanent and significantly limit your ability to work in the near future. Another kind of compensatory damages is referred to as general damages and can include expenses such as pain and suffering. This is a more subjective type of damages that is difficult to quantify. It is usually granted in addition to other types of damages, like medical expenses and lost wages. To qualify for this type, you must show that you experienced physical, mental, or emotional distress as a result. This could include a doctor's report or expert testimony from a psychologist or psychiatrist. Damages for future medical costs In personal injury lawsuits, the future medical expenses could be a substantial part of the settlement. However, they can be difficult to determine and prove. The damage is usually based on actuarial calculations about your future needs. They may also include the cost of medication and the estimate of a physical therapist on how long you will require treatment, and many other aspects. In order to show future medical expenses, you'll require expert witnesses, such as doctors and therapists. These experts will testify on the nature of your injury, and the impact it will have on you in the near future. They will also assist you to determine the present value of these expenses. Your attorney will use this information to make an effective argument for you. It is also important to consider the loss of income you'll suffer as consequence. This can include lost income as well as benefits, commissions, and bonuses. Additionally, you could have to pay for a home-care attendant or nurse and may be entitled to compensation for the cost of assistive devices like walkers, wheelchairs and canes. Many injured victims require a amount of ongoing medical and care following their accident, which can be extremely costly. This includes therapy, physical and occupational therapy. These expenses, which include transport and accommodation costs to and from appointments, are covered by the compensation provided to injured victims. Be aware of other costs that go beyond medical expenses, for example the loss of enjoyment in activities you used to enjoy before your injury. This is an area of damage that can be difficult to quantify, however it's important to record it as precisely as is possible. You can seek compensation for these losses by filing a lawsuit or settling outside of court. 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 is a trial, and proof that your injury was caused by the negligence or reckless actions. An attorney for personal injury can help you decide which path is right for your case.