Some factors that could influence the outcome your claim include:
- The type of injury;
- The severity of the injury;
- The impact the injury has on your everyday life;
- Your age, gender, and other personal demographics;
- Your work history and current employment; and
- How fully you recover.
What are some of the economic damages that add to the value of my settlement?
When we collect evidence to support your claim, we need every bill, receipt, and other documentation related to the crash. Many people accidentally overlook expenses they paid out-of-pocket that count as accident-related costs. Almost every case has medical bills and lost wages, but we also look for proof of other costs and add in your likely future expenses. These are your economic damages.
We consult with a team of experts to help us understand your future care costs, how much money you may miss out on if you cannot return to your previous career, and even how much you may need to obtain or replace adaptive equipment like wheelchairs, canes, or hearing aids. In some cases, future care costs quickly eclipse the cost of the medical care you already received, so it is important not to underestimate these expenses.
Other possible economic damages may include:
- Ongoing physical, cognitive, or emotional therapies;
- A wheelchair-accessible vehicle;
- Necessary home modifications because of mobility issues; and
- In-home nursing care and equipment.
Am I eligible for compensation for my pain and suffering?
While it does take the support of experts and a skilled and knowledgeable personal injury lawyer, calculating your economic losses is the easy part. Personal injury settlements also cover damages for the emotional losses you and your family suffered because of the accident.
These types of hidden losses are often referred to as non-economic damages. Primarily, they cover the pain and suffering you endure after your injury. Money awarded for pain and suffering damages is often the most difficult to put a dollar amount on and is commonly disputed. We can help you appraise these damages and fight for fair compensation for the mental and physical stresses facing you and your family.
There are several ways we can estimate how much your non-economic damages might be worth, depending on the details of your case and the nature of your injuries. We can apply a multiplier to your economic damages, assign a monetary value to every day you suffered, or even use a combination of these two methods. There is no right way to figure out the range for these damages. The insurance company may plug your numbers into a complicated computer program to reach their best guess as to how much they want to pay out for your non-economic losses.
Why is understanding the approximate cost of my damages important during settlement negotiations?
In some cases, the insurance adjuster handling your claim will respond quickly with a settlement offer or even send you a check directly. When you are struggling to recover from an injury and in need of money, it can be difficult not to agree to the first offer you receive. However, you should speak with a lawyer before accepting any offer.
Our attorneys can help you decide whether the settlement amount actually covers all your necessary expenses and does not minimize the pain and suffering you endured. This is especially important in cases where you may need future or ongoing medical care for your injuries. You do not want to agree to a settlement now and have to pay these expenses out-of-pocket later. Once you settle a claim, you cannot file for any more compensation later.
If a settlement amount is unsatisfactory and we cannot get the insurance company to agree to a fair payout, we can take your case to court before a judge or jury. While this is not something we feel is necessary in every case, having a third party review your requested damages claim may be in your best interest. Without having a vested stake in the outcome, an impartial third party may award you with a more respectable compensation amount.
Whether you are facing a settlement or a lawsuit, it is highly recommended you contact a knowledgeable personal injury lawyer with a strong track record in winning cases for clients. This is the best way to maximize the value of your settlement.
Let the Law Office of Jason R. Schultz, PC, help you recover damages from your injury.
It is often hard to decide just how much compensation can correct a wrong in a personal injury claim. That is why you need a knowledgeable lawyer to represent you in settlement negotiations with the insurance company. As the victim of an accident, you have rights the insurance companies cannot ignore.
They have a team of lawyers working on their side, so it is in your best interest to have legal representation fighting for you. Before accepting any settlement offer, call the Law Office of Jason R. Schultz, PC, at 404-474-0804 to schedule a free consultation.
