Personal injury lawsuits start as a result of one person getting injured from the direct actions of another person. In most cases, the direct actions of the other person may be as a result of their negligence, wrongdoing, or failure to attend to certain situations when they should have. When a person has sustained injuries as a result of another person’s negligence, such a victim may be able to seek compensation for the damages which they have suffered. Speaking with reputable personal injury attorneys is one of the very first steps to ensuring that you have a case that is worth filing a claim for.
While most people feel that compensations in a personal injury claim are simple to come about, or that they are arrived at through guesswork, you should know that a lot goes into the calculation of these amounts to ensure that the victim’s damages are well catered to and you have to follow certain steps in a legal claim.
When working with New York Personal Injury Attorneys to calculate the total worth of your personal injury case, there are some important factors that should be considered. Below are some of the things you need to know about calculating personal injury case worth.
1. What Are The Damages In A Personal Injury Case?
In a personal injury case, damages are sought in the form of monetary rewards which are awarded to the victim of the injury and against the negligent or at-fault party. In all personal injury cases, there are two different types of damages. These include; the compensatory damages and the punitive damages.
In most personal injury claims, it is uncommon for an individual to seek for both punitive and compensatory damages.
2. What Are Compensatory Damages?
Compensatory damages are those that are sought after by a victim in order to address the financial losses and damages suffered as a result of the accident in which they have been involved. In the context of workplace injuries, compensatory damages are the type of compensation that a worker injury lawyer would pursue when representing injured individuals. The type of compensatory damages that can be awarded to the victim is dependent on the type of accident they have been in. Some of the more common types of compensatory damages that an injury victim may seek compensation for include;
– Past, present, and future medical costs
– Cost of physical rehabilitation (this may also include the projected future cost)
– Lost wages
– Loss of earning potential or loss of jobs
– Property damages
– Pain and suffering
3. How To Calculate Compensatory Damages
Compensatory damages may be easier to calculate in some cases while in others, it may be complex. The calculation and its complexity are dependent on the type of accident the victim has been involved in.
In calculating compensatory damages, the New York Personal Injury Attorneys will look at the actual value of all losses and all costs that have been incurred. As part of this, the attorneys will consider the cost of repairing victim’s vehicle which has been involved in the accident, actual cost of medical treatment, cost of medical rehabilitation, lost wages as a result of victim’s absence from work due to injuries sustained, and more.
In the event such injuries sustained results in permanent disability such as spinal cord injuries, amputations and more, the attorneys will also estimate all future earnings which the victim should have earned in the absence of the injuries sustained.
Attorneys can also estimate the pain and suffering which the victim has been made to go through as a result of the injury and allocate a fair monetary value.
If injuries sustained results in death, the family of the victim may be able to seek compensation for emotional damages such as loss of consortium, loss of emotional support, loss of financial contribution and more.
4. Punitive Damages
Unlike compensatory damages, punitive damages are aimed at making such a negligent party pay for the mistakes they have made. Punitive damages are aimed at discouraging others from engaging in similar negligent behaviors. In the case of punitive damages, this is not necessarily tied to the losses, however, heavy losses, as in the case of deaths, may lead to aggravated punishments.
5. How Attorneys Calculate Punitive Damages
In the case of punitive damages, similar cases which have been decided upon in the past may be used as a guide. Also, the court may also factor into the decision the type of injuries which have been sustained by the victim and the gravity of the negligence or offense which has been committed by the at-fault party.
When filing for punitive damages in a wrongful death case, the negligent party may be exposed to an even more greater punishment. Punishment will also factor in the type of death. In assessing damages, the deceased’s family may be entitled to funeral cost, loss of companionship, and additional costs.