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What Is Your Personal Injury Claim Worth? If you've been injured as a result of an accident, you could be entitled to compensation. An attorney for personal injuries can assist you in determining the value of your claim. The amount of compensation that you receive is determined by the severity of your injury and several other factors. Most compensation awards will include financial damage, like reimbursement for medical treatment as well as compensation to cover future medical care. No-fault system The no-fault system in New York is designed to assist victims to recover damages for medical expenses and other financial losses. The system does not cover damages that are non-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 compensation to cover your expenses following an accident and help you get back on your feet. The value of your personal injury claim could be determined by the severity and nature of your injuries. The claims for injuries that cause permanent disability or disfigurement are more important than those that don't. In addition, the extent to which your injuries have impacted your life quality will add value to your claim. In order to receive full compensation for your injuries, it is essential that you keep a record of the total amount of your medical expenses and other financial losses. This includes doctor's appointments and surgeries, physical therapists as well as assistive equipment, medications, and any other future medical requirements. Your lawyer can estimate this amount by looking over your medical records and then obtaining a prognosis from your doctor. When determining the value of your personal injury claim, it is important to consider any income sources from third parties you have received from sources other than the negligent party. This rule is known as the collateral source, and it prevents negligent parties from cutting your compensation by subtracting the money you've already received from other income sources. The value of a personal injury claim depends on the extent of your injuries as well as the number of injured in the accident. A strong personal injury attorney can help you understand the no-fault system and fight for the full amount of compensation you are entitled to. In a lot of states, including New York, no-fault insurance coverage is required. Also known as personal injury protection (PIP) This type of coverage pays for your medical expenses and lost wages if injured in an accident, regardless of the person who caused the crash. The limits for PIP vary from state to state, however, most states offer coverage of at least $2,500 for medical bills and a certain amount for lost wages. Damages for suffering and pain In personal injury cases, the goal is to make a victim whole after an accident. This can include returning them to the financial situation they were in prior to the accident, covering medical bills and car repair costs, as well as compensating the victim for lost income, and other damages that are not economic, such as pain and suffering. The law defines pain as a broad category that includes physical or emotional effects on a person. This includes mental anguish, physical pain and loss of vitality or health. These non-economic damages can be more difficult to quantify in comparison to other types of damages like medical bills or lost wages. There are a variety of ways to use to determine the value for suffering and pain. For example medical records that demonstrate the extent of a person's suffering can be an important evidence. The testimony of a victim or a family member, can be a good indicator of how injuries impacted their lives. Imagine, for instance, that you are injured and are unable to run for long distances or participate in your hobbies. You'll probably be able to demonstrate how these activities have affected your standard of life. In addition, you may have photographs or videos that prove your situation. These types of evidence can be extremely convincing to a jury even if they're not backed by scientific proof. The multiplier method as well as the per diem method are the two most common ways courts determine the amount of pain and suffering. The multiplier method involves multiplying the amount of the claimant's damages in economic terms by one and five. The per diem method assigns a certain amount to each day of suffering and pain until the claimant has reached “maximum improvement”. These methods aren't fixed and jurors and judges have the freedom to decide the amount of compensation they will award. This is why it's crucial to know how to prove your claim for suffering and pain in order to increase your chances of receiving a fair settlement. Damages for loss of wages A large portion of a personal injury settlement could be compensation for lost wages. This includes all time that you are absent from work because of an accident, including weekends and holidays. This includes any bonuses, commissions or tips that you could have earned while working. A forensic economist or a financial expert will usually calculate the cost of these losses. The damages are generally simple to calculate and can be proven using pay stubs, W-2 forms and other records from employers. These can be compared to the amount of income you earned prior to your injury to show the difference. It may be possible to also include any vacation, sick, or personal days that you had planned on using but were unable to take due to injury. This type of compensation may allow you to recover some of the income loss because of your inability to work, or even pay for future losses. However, you won't get the full amount you would have received had your injury had not occurred, since there's a chance that there will be a lien from the other parties who provided treatment or medical bills. If you are a self-employed person, it may be more difficult to prove that you have lost wages, but this is something that your attorney can discuss with a financial advisor. These experts can estimate your future earnings based on your current earning capacity. They will take into consideration aspects like your regular work schedule, the amount of hours you work per week and your hourly wage. Future loss of earnings damages are similar to the past income loss however they are based on your ability to earn in the future rather than on what you actually earned before. They can also be called loss of earning capacity in the future or impairment of earning potential. They are only granted if it is proved that the injury will last for a long time and significantly limit your ability to work in the future. General damages are a different kind of compensatory damage. They can include expenses such as suffering and pain. This is a subjective category of damages that is difficult for the court to quantify. It is often awarded in addition to the other types of damages, such as medical expenses and lost wages. To be eligible for this type of damages you must show evidence of the physical, emotional and mental distress you've experienced as a result of the accident. This could be a doctor's report or an expert's testimony from a psychologist or psychiatrist. Damages to cover future medical expenses In personal injury lawsuits, future medical expenses could be an important part of your settlement. However they can be difficult to calculate and prove. The damages are usually calculated based on your future needs. These damages can also include the cost for medication, an estimate by a physical therapist of how long the treatment will last and other variables. To show future medical expenses, you'll need to work with experts in the field, such as doctors and therapists. These experts will testify on the nature of your injury and its expected impact on you in the future. Palatine injury lawsuits 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 could face due to your injuries. This could include lost income as well as benefits, commissions and bonuses. You may also have to pay an attendant or nurse in your home or attendant, and you could be entitled to compensation for expense of assistive devices like wheelchairs and canes. After an accident, many injured victims must continue receiving medical treatment and care. This can be extremely expensive. This includes therapy, physical and occupational treatment. Victims of injuries are entitled to compensation for these costs in addition to the cost of transportation and accommodation for their journey to and from their appointments. It's also important to take into consideration the non-medical expenses that may be associated with your accident, such as the loss of enjoyment of activities you were enjoying prior to your injury. This is a type of damage that is difficult to quantify, however it's still essential to document it as precisely as is possible. You can seek compensation for these damages by filing an action or settling outside of court. A settlement is negotiations with the defendant or insurance company to resolve a dispute without the courtroom. A lawsuit however, requires a trial and evidence that your injury was the result of the negligence or reckless actions. An attorney who specializes in personal injury cases can assist you in deciding which option is best for your case.