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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. A personal injury lawyer can assist you to determine how much your claim is worth. The amount of compensation you receive will depend on the extent of your injuries and a number of different aspects. Most compensation awards include economic damages, such as reimbursement for medical expenses and compensation for future medical expenses. No-fault system The system of no-fault in New York is designed to help victims recover damages for their medical expenses and other financial losses. However, this system does not cover damages that are not monetary such as pain and suffering. Thus, victims might need to make a personal injury claim to get the amount they are due. An experienced attorney can help you through the process of obtaining the money you need to pay for your expenses following an accident and help you get back on your feet. The value of your personal injury claim will be determined by the severity and nature of your injuries. Injuries that result in permanent impairment or disfigurement are likely to be more valuable than those that don't. Birmingham injury attorney to which you have been affected by your injuries may increase the claim value. In order to receive the full amount of compensation for your injuries, it is essential that you keep a record of the total amount of your medical costs and other financial losses. This includes doctor's appointments as well as physical therapy, surgery as well as assistive equipment, medications, and any other future medical needs. Your lawyer will be able to determine this amount by looking over your medical records and obtaining a prognosis from your physician. It is important to consider any income you may have received from a third party other than the negligent party when determining the amount for your personal injury claim. This is known as the collateral source rule and it prevents negligent parties from cutting the amount they have to pay you by subtracting the amount you have already received from other sources of income. The value of an injury claim for personal injury is contingent on the severity of your injuries and the number of people injured in the accident. An experienced personal injury lawyer can help you understand the no-fault system and fight for the full compensation you are entitled to. No-fault insurance is mandatory in many states, including New York. Personal injury protection (PIP) pays for medical bills and lost wages in the event of an accident. PIP limits vary from state to state, but in most cases they offer coverage of at least $2,500 for medical bills and a small amount for lost wages. Damages for suffering and pain In personal injury cases the objective is to make the victim whole. This can include returning them to the financial situation they were in before the accident, covering medical bills and car repair costs, as well as compensating them for lost income, and other damages that are not economic, such as pain and suffering. The law defines pain as a broad term that includes physical or emotional effects on a person. This includes physical pain, mental anguish and diminished health or vigor. 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 suffering and pain. For example medical records that demonstrate the severity of a victim's suffering can be a valuable evidence. The testimony of a victim or their family members can show how the injuries have affected their lives. For example, imagine you suffer from an injury that prevents you from taking 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 life. You might also have photos or videos that demonstrate your current condition. These kinds of evidence can be extremely convincing to a jury, even if they are not backed by scientific proof. There are two methods that courts determine the amount of pain and suffering using the multiplier method as well as the per diem method. The multiplier method involves multiplying a claimant's total economic damages by a number ranging from one and five, whereas the per diem method assigns a financial value to every day that suffers from their injuries until they reach “maximum medical improvement.” These methods aren't set in stone as judges and jury members have the freedom to decide the amount of compensation they grant. It is therefore important to be aware of the best way to prove your claim for suffering, pain and other damages to improve your chances of receiving a fair settlement. Damages for lost wages Damages for lost wages could be a large portion of a personal injury settlement. This includes time that is that you are unable to work because of an accident, including weekends and holidays. Also, commissions, bonuses, and tips that would have been earned through the job. A forensic economist or another financial expert usually calculates the amount of these losses. The damages are generally simple to calculate and can be proved with paystubs, W-2 forms, and other employer records. These can be compared to the amount of money you made prior to your injury to determine the difference. It could be possible to also include any vacation, sick, or personal days that you had planned on using but had to forgo because of the injury. This type of compensation can allow you to recover some of the money you lost because of your inability to work. It could even cover future losses. You won't receive your full compensation if your injury hadn't happened. This is because there may be an obligation on your account from another party who paid for medical bills or treatment. It can be difficult to prove that you have lost wages if you're self-employed. However your lawyer can consult an expert in financial matters about this. Experts can estimate your future earnings based upon your current earning capacity. They will take into account factors such as the type of work you typically do, the number of hours you work every week, as well as your hourly rate. Future loss of earning damages are similar to past income loss, but they are based more on your ability to earn more money in the near future than the amount you earned in the past. They could also be referred to as loss of earning capacity in the future or impairment of earning potential. These are only awarded if it can be established that the injury will permanently and significantly hinder your ability to work in the future. General damages are a different kind of compensatory damage. They can be a result of expenses such as pain and suffering. This is a more subjective type of damages that are difficult to quantify. This kind of damage is often given along with other types of damages, such as medical bills and lost wages. In order to qualify for this kind of compensation, you must provide evidence of emotional, physical and mental distress you've endured as a result the incident. This could include the report of a doctor or testimony from a psychologist or psychiatrist. Future medical expenses – Damages to be paid In personal injury cases, future medical costs can make up a significant part of your settlement. However they can be a challenge to calculate and prove. The damages are usually calculated based on the future needs. These damages could include the cost of medication, a prediction by physical therapists of how long treatment will take, and other factors. In order to show future medical expenses, you will require experts like doctors and therapists. These experts will testify about the nature of your injury and the likely impact on your life. They will also help you to determine the present value of those expenses. Your lawyer will use this information to make an effective argument for you. Another factor to consider is the loss of income you will experience due to your injuries. This could include lost wages bonuses, commissions and benefits. You may also need to pay a home-care nurse or attendant or attendant, and you could be entitled to compensation for cost assistive devices such as canes and wheelchairs. Many injured victims require a deal of ongoing treatment and care after their accident and it can be expensive. This includes physical therapy, and occupational treatments. Victims of injuries are entitled to compensation for these expenses and the cost of transport and accommodation for their journey to and from their appointments. It's also important to consider other costs that are not medically related to the accident, for instance the loss of enjoyment of activities you enjoyed prior to your injury. This type of damage can be difficult to quantify, however it is still important to document as accurately as you can. You can pursue the losses through two methods: a settlement or a lawsuit. A settlement is a negotiation with the defendant or their insurance company to settle the issue outside of court. A lawsuit requires a trial, and evidence that the defendant's negligence or recklessness, caused your injury. An attorney for personal injury can assist you in deciding which option is best for your case.