In Macon and beyond, we represent people who have been injured in all types of accidents
What determines the value of your personal injury claim?
Following a personal injury incident, it’s conceivable for victims to wonder about the amount they are likely to receive as compensation. It’s hard to tell without knowing the exact circumstances surrounding your accident.
A good rule of thumb is that the value of your claim depends on the nature of your injuries and their impact on your life. Typically, the amount of your personal injury settlement will factor in three types of damages that the personal injury may have caused you:
Economic damages
These damages are awarded to victims based on the verifiable monetary loss brought about by the injuries. They may include medical bills you incurred in seeking treatment for your injuries, as well as income lost while you were recuperating.
Also considered under economic damages is the future income lost as a result of your injuries. For instance, if your work involved manual labor, which you can no longer execute due to your injuries, your potential income lost will likely figure into the settlement amount.
Non-economic damages
Pain and suffering, as well as mental anguish arising from your injuries, will also likely be figured into the settlement offer that you receive. All these are covered under non-economic damages, including loss of consortium and a lower quality of life. Such damages aren’t easily quantifiable, but that does not mean they are not included in the settlement.
Punitive damages
Depending on the circumstances of your case, you may also be awarded punitive damages. In most cases, they are not meant to compensate you. Instead, they are supposed to punish the defendant’s conduct in the lead-up to your injuries. Punitive damages may not weigh in much on the value of your personal injury settlement since they do not depend much on your losses.
There is no actual figure for all personal injury cases
Every case is different, and the amount of compensation varies. Therefore, it is crucial to ensure that the compensation you demand is enough to cover all of your personal injury damages. Knowing more about the kind of injuries brought resulting from your accident will put you in a better place when it comes to receiving adequate compensation. It’s the best form of justice you can get.