If you get injured in an accident, you may be faced with mounting medical bills and expensive property repair costs. It is normal to wonder about the worth of your claim as an injured victim. Obtaining an estimate of your personal injury claim’s value could give you greater peace of mind about your financial future. As the answer to this question is subject to the details of your individual case, the best way to obtain an accurate estimate is by consulting with a personal injury attorney in Atlanta.
Personal injury claim values can vary significantly from case to case. Some victims receive $10,000 or less for their injuries, while others recover millions. One way to get an idea of what your case might be worth is by understanding the types of damages, or financial compensation, available for the average lawsuit. Personal injury law has three main categories of damages:
Create a list of all of the losses that you can think of that are associated with your accident. You may need assistance from an attorney to create a full and comprehensive list. Then, use receipts and pay stubs to calculate your economic damages – how much the accident has and will continue to cost you financially. Do not forget to include your latent costs. Economic damages are the easiest category to estimate, as they are based on hard figures. It is more difficult to calculate noneconomic damages.
Noneconomic damages, also known as pain and suffering, is a type of damage award that is calculated at the jury’s discretion. However, the jury may use one of two common equations to calculate pain and suffering:
Keep in mind that a jury does not have to use either of these equations, or any equation at all, to calculate pain and suffering. This is why it is difficult to estimate the value of your noneconomic damages as a plaintiff without help from a professional.
Once you have a full list of your damages, you may be able to get a rough idea of how much your personal injury claim is worth. However, the final value of your case will depend on many factors, including:
It is important to consult with a personal injury attorney in Atlanta about the potential value of your case for an accurate estimate. An attorney will have the experience and knowledge you need for this complicated type of calculation.
If an insurance company offers you a settlement to resolve your personal injury case, contact an attorney before you accept. Insurance companies are notorious for undervaluing claims to boost their own profits. A personal injury lawyer in Atlanta will want you to succeed and can work hard on your behalf to maximize your financial recovery. Discuss how much your personal injury claim could be worth with an attorney at Hilley & Frieder, P.C. today for more information.