How To Determine A Settlement Amount For Your Personal Injury

Anybody that is injured due to the negligence of another person has the right to receive compensation for the losses they sustained. The question most people have is how these losses are calculated. There is a method that is used to calculate damages, which should give you an idea of what kind of compensation to expect.

Special Damages

Your financial losses are called special damages. They include all of your expenses that you had to pay for out-of-pocket, as well as money lost that can be directly related to the accident. These costs will include:

  • lost wages from your job
  • medical bills
  • damage to property.
  • burial and funeral expenses

While these costs are very easy to calculate from the past, it can be difficult calculating the costs for the future. A lawyer will help determine how much you can expect to lose due to your injuries. They will most likely use a testimony from a medical professional to determine your long-term medical costs.

General Damages

Anything that does not have a direct cost associated with it is called general damages. Some factors that will be considered include:

  • pain and suffering
  • reputation damages
  • loss of companionship
  • mental anguish
  • distress

Expect your general damages to be anywhere between 1 to 5 times the amount of your special damages, and potentially higher depending on the type of injury you sustained.

Adjusting Your Settlement Value

There are a few aspects of your personal injury claim that will adjust the overall settlement value.

If the liability is clear, it will result in the highest possible settlement than if liability needs to be determined. When you are found partially responsible for the injury, your settlement will be adjusted accordingly. For example, if you are found to be 25% liable for causing the accident, you will only receive 75% of the compensation. If liability is split between multiple people, there could be limits on how much money each person has to pay.

The way that you present yourself in court can also affect your compensation. Factors such as your likeability, occupation, age, and medical history are all considered when determining the final settlement value. The location where the injury happened can also be a factor, since some communities may be very conservative.

Mitigating damages are also considered. This would happen if you delayed seeking medical treatment, and now your medical bills are higher because of it.

With so many factors at play, you can understand why it helps to have a lawyer on your side to help determine your personal injury compensation claim. Contact Vaughan & Vaughan or a personal injury attorney near you.