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What Is Your Personal Injury Claim Worth? If you've been injured in an accident, you may be entitled to compensation. A personal injury lawyer can help you to determine how much your claim is worth. The amount of compensation that you get is determined by the severity of your injury and several other factors. The majority of compensation awards cover economic damages, like reimbursement for medical treatment as well as compensation for future medical care. No-fault system New York's no-fault system is designed to help victims recover damages from medical expenses and other financial losses. The system does not cover damages that are non-monetary such as pain or discomfort. Consequently, victims may need to file a personal injury lawsuit to obtain the amount they are due. An experienced attorney can help you through the process of getting the money you need to pay for your expenses following an accident and get you back on your feet. The extent and nature of the injury can determine the value of your claim. Injuries that cause permanent impairment or disfigurement tend to have a higher value than those that do not. In addition, the extent to the extent that your injuries have affected your quality of life also boost the value of your claim. It is important that you record all of your medical expenses and financial losses to receive a full reimbursement. This includes doctor's visits, surgery, physical therapist and medications, assistive equipment, and any other future medical requirements. Your lawyer can determine this amount by reviewing your medical records and then obtaining a prognosis from your doctor. It is crucial to take into consideration any income you might have received from third parties other than the negligent party when determining the value for your personal injury claim. This is referred to as the collateral source and it prevents negligent parties from making their compensation less by subtracting the money you've already received from other income sources. The value of a personal injury claim is dependent on the severity of your injuries and the number injured in the accident. A personal injury lawyer can assist you to understand the no-fault state and fight for all the compensation you're 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 between states, however, most states offer coverage of at least $2,500 for medical bills and a certain amount for lost wages. Compensations for pain and suffering In personal injury cases, the aim is to make the victim whole again after an accident. This can include getting them back to their financial situation prior to the accident. It could also involve paying for medical bills, car repair costs and reimbursing them if they lost income. The law defines pain and suffering as a broad term that refers to physical or emotional impacts that the injury has caused to the life of a person. This includes discomfort and pain, mental anguish, loss of vigor or health, and the inability to enjoy a normal lifestyle. These non-economic damages can be more difficult to quantify in comparison to other damages such as medical bills or lost wages. There are many methods to be utilized to determine the value for pain and suffering. Medical records that describe the extent of pain suffered by a victim can be valuable evidence. The testimony of a victim or family members could be used to prove how the injuries have affected their lives. Imagine, for instance that you're injured and are unable to run long distances or participate in your hobbies. You'll likely be able to prove how these activities have impacted your life quality. You may also have photos or videos that illustrate your current condition. These types of proof can be extremely persuasive even if they are not backed up by scientific proof. The multiplier method as well as the per diem method are the two most commonly used methods courts use to determine the amount of pain and suffering. The multiplier method involves multiplying claimant's economic damages by one and five. The per diem method assigns a certain amount to each day of pain and suffering until the claimant is at “maximum improvement”. These procedures aren't fixed in the stone of law and juries and judges have wide discretion when awarding this kind of compensation. Therefore, it is crucial to be aware of the best way to prove your claim for pain, suffering and other damages to increase your chances of receiving an equitable settlement. Loss of wages – Damages A significant portion of a personal injury award could be compensation for lost wages. This includes all of the time missed from work because of an accident, including holidays and weekends. This includes bonuses, commissions or tips that you would have earned during your employment. A forensic economist or another financial expert will usually calculate the amount of these losses. The damages are simple to calculate and can be proven with W-2 and paystubs. These can be compared to the amount of money you made prior to your injury to demonstrate the difference. It is possible to include any vacation, sick, or personal days that you had planned to use but were unable to use because of the injury. Albany injury attorneys of compensation could assist you in recovering some of the lost income due to your inability of work, or even pay for any future losses. However, you won't receive the full amount that you would have received if your injury had not occurred, since there's a chance that there will be a lien from other parties who have paid for medical or treatment bills. If you are self-employed, it can be more difficult to prove that you have lost wages However, this is a matter that your attorney can discuss with a financial expert. They can estimate your future earnings based on your present earning capacity. They'll take into consideration things like the kind of work you typically do, the number of hours you normally work every week, as well as your hourly rate. Future loss of earning damages are similar to the past income loss, however they are based on your ability to make more money in the future than the amount you earned in the past. They could also be referred to as loss of future earning capacity or impairment of earning capacity. They are typically only awarded when it is demonstrated that the injury will substantially and permanently limit your future ability to work. General damages are a different kind of compensatory damage. They can include expenses such as pain and suffering. This is a subjective category of damages that can be difficult for a judge to quantify. This type of damage is usually granted along with other types, such as medical bills and lost wages. To be eligible for this type of damages you must show evidence of emotional, physical and mental distress you have suffered as a result of the incident. This could be a doctor's report or expert testimony from a psychologist or psychiatrist. Damages to cover future medical expenses In personal injury lawsuits, future medical expenses can constitute an important portion of your settlement. However, they can be difficult to calculate and prove. The damages are usually calculated based on actuarial estimates of the future requirements of your health. These damages could include the cost of medications, an estimate from an PT of how long the treatment will take and other variables. You will have to rely on experts like doctors or therapists to demonstrate future medical expenses. They will testify on the nature of your injury and the likely impact on your life. They will also assist in determining the present value of these expenses. Your lawyer will use this information to make an effective argument on your behalf. Another consideration is the loss of income you may experience as a result of your injuries. This could include loss of wages, commissions, bonuses, and benefits. You may also have to pay a home-care nurse or attendant as well as be entitled to compensation for the expense of assistive devices like canes and wheelchairs. Many injured victims require a deal of ongoing treatment and care following their accident and it can be expensive. This includes therapy, physical and occupational treatment. These costs, including the cost of transportation and accommodation to and from appointments are covered by the compensation provided to injured victims. Be aware of other costs that go beyond medical expenses, such as the loss of enjoyment from activities you previously enjoyed prior to your injury. This area of damage can be difficult to quantify, however it's important to record as precisely as you can. You can seek to recover the losses in two ways one of which is a settlement or lawsuit. A settlement involves negotiations with the insurance company to resolve a dispute without court. A lawsuit requires a trial and proof that the defendant's negligence or carelessness caused your injury. A personal injury attorney can help you decide which option is best for your situation.