Calculating Personal Injury Damages

After being injured in an accident, many people wonder how much monetary compensation they are entitled to. The first step to understanding this is understanding the difference between economic and non-economic damages, and when compensation is determined in a courtroom.

Economic Damages.

Economic damages are based on actual expenses and are therefore more straightforward to calculate since doing so can be as simple as adding up the dollar amount of the losses. By far, one of the biggest economic costs is medical expenses. For example, the Centers for Disease Control has published data indicating that in just a one year period, more than 2.5 million Americans went to the emergency department and nearly 200,000 were then hospitalized for crash injuries.

The important thing in regard to later calculating economic damages is for you to be diligent in keeping all records of financial losses related to your accident. This means keeping up with a copy of your hospital bills, medical receipts, missed days at work, and any other documentation that you suspect could later be helpful in pursuing a personal injury claim.

Non-Economic Damages.

Outside of your documented expenses, you may be eligible for pain and suffering compensation. When it comes to these damages, the opportunity is greater for obtaining the compensation you deserve, but so is the risk of losing this opportunity if negotiations are handled incorrectly. Importantly, there are no laws that require pain and suffering damages to be paid, and there is no specific amount that these damages have to be. Additionally, insurance adjusters usually do not agree with the amount the victim asks to be paid as compensation for pain and suffering. For this reason, it is imperative that you have the help of an experienced personal injury attorney who can help you ensure you get the compensation you deserve.

When is Compensation Determined in a Courtroom?

In most cases, your personal injury attorney will settle your case long before it ever reaches a courtroom. In fact, only four percent to five percent of the personal injury cases in the United States actually go to trial. However, in some cases, heading into the courtroom is necessary, especially when injuries are very serious or when battling an insurance company that refuses to agree to a compensation amount that is fair for your injuries. If you and your legal team decide to bring your case to court, your monetary award will be decided by the jury. In that case, there is a different set of factors to consider. Unlike when battling an insurance adjuster, a jury may also consider other factors in addition to the medical evidence such as how credible you are and even how much they like you and sympathize with your injuries.

Are You Contemplating Pursuing Compensation For Your Injuries?

If you have been injured in an accident that you suspect was caused by the negligence of another person, you likely have legal rights under the law for pursuing compensation from the responsible parties. Many people find it helpful to depend on an experienced legal team in this situation. As the experienced South Florida personal injury attorneys at Leifer & Ramirez, we have helped many accident victims obtain well-deserved compensation. Reach out to us today so we can begin reviewing the circumstances of your case and determining how much you may be able to recover.

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