Five Factors That Impact the Value of Your Injury Claim
Calculating the value of your injury claim can be complicated. An insurance adjuster is not going to tell you if the amount you are requesting is significantly lower than the actual value of your claim. In many cases, the insurance adjuster offers a settlement that is much lower than the value of the claim when an Erie personal injury attorney is not involved in the settlement negotiations.
Our attorney discusses five common factors that impact the value of an injury claim in this blog.
1. Property Damage
You are entitled to compensation for the damage to personal property. For instance, the insurance company for the at-fault driver should pay to have your vehicle repaired or pay the fair market value of the vehicle if the vehicle is totaled. Most property damage claims are settled soon after the accident. Be very careful when settling a property damage claim because it is easy to sign away your right to further compensation if you do not read the fine print in the property damage release.
2. Cost of Medical Care
When another party causes an injury, that party is responsible for the cost of medical care for the accident victims. Medical care includes a wide variety of treatments, including surgeries, doctor’s bills, hospital stays, emergency room visits, medications, medical supplies, and therapy sessions. In addition to past medical expenses, you might also be entitled to compensation for ongoing medical care and treatment for permanent disabilities.
3. Loss of Income
Loss of income is another financial damage that is compensable in a personal injury case. In addition to lost wages, you may receive compensation for bonuses, commissions, raises, and other compensation you lost because of the accident or your injury. You may also be entitled to compensation for future lost wages or a loss of earning capacity.
4. Pain and Suffering Damages
Pain and suffering damages refer to the non-economic damages sustained because of an accident an injury. Pain and suffering damages may include:
- Physical suffering and pain
- Emotional stress
- Mental anguish
- Loss of enjoyment of life
5. Permanent Impairments
You may also receive compensation for permanent impairments and disabilities. Examples include scarring, disfigurement, paralysis, and amputations.
Calculating the Value of a Claim
The amount you receive for your injury claim may depend on other factors. It may be necessary to retain economic, medical, and financial experts to help calculate the value of future and permanent damages. It is important to include all damages in the settlement because once you sign the release, you cannot demand additional compensation.
Our legal team works closely with you to document your injuries and obtain evidence proving your damages to maximize the amount of compensation you may receive for your injury claim.
Call an Erie Personal Injury Lawyer for More Information
You do not need to worry about calculating the value of your injury claim when you hire an experienced Erie personal injury lawyer. Our lawyer takes care of all details related to your claim, including determining if a settlement offer is fair and just given the facts in your case.
To schedule your free legal consultation with our Erie personal injury lawyer, call The Travis Law Firm at (800) 401-2066.