How Much Is My Personal Injury Claim Worth?
Valuing a Personal Injury Claim
When you have been injured because of someone else's negligence, you
probably want to know how much compensation you would receive through
a personal injury claim. The truth is that there are many factors that
play into the value of a claim that calculating an exact value can be
difficult. An experienced San Bernardino personal injury lawyer, however,
will have handled cases similar to yours and will be able to provide you
with an accurate estimate of the approximate value of your claim.
Factors that play into the value of a personal injury claim include:
- Medical bills
- Ongoing medical treatment
- Property repair / replacement
- Pain and suffering
- Emotional trauma
- Loss of income
There are two different types of damages that are most commonly considered
when determining the value of a personal injury claim. The insurance company
will use the terms "special damages" and "general damages".
In laymen's terms, special damages are hard costs that can be proven
with a receipt or bill, such as medical bills, property repairs and replacement,
and loss of income. General damages generally do not have a specific monetary
value, but can be included in your claim. These damages are more commonly
known as pain and suffering.
The value of your pain and suffering can be determined using one of two
common methods: per diem or multiple.
The Per Diem Method
Using the per diem method, your personal injury lawyer will calculate all
your hard costs and then consider all your pain and suffering symptoms
to determine a daily value, or per diem, for your claim. If the injury
you suffered as a result of an accident resulted in you missing work and
generally affecting your life for 90 days, then the total amount of compensation
is the per diem amount multiplied by 90 days. For example, if your personal
injury attorney determines your per diem value is $120, then you can pursue
compensation in the amount of $10,800 to cover the 90 days.
The Multiple Method
This method is more commonly used by personal injury lawyers. First, all
hard costs are totaled up - medical bills, property damage repairs, lost
income as a result of missing work, services you had to hire out for due
to being incapaticitated (hiring a gardener for 2 months, for example,
while you heal from a broken leg), etc. The total of your hard costs are
then multiplied by anywhere from two to five, depending on the severity
of your pain and suffering. For example, if your total costs add up to
$5,000 and you are additionally suffering from nightmares and PTSD, you
might multiply that by three. This means you can pursue $15,000 in compensation.
(888) 499-3889 Today to Reach Our Personal Injury Firm
The Law Offices of Vetchtein & Associates can provide the aggressive
and experienced representation that you need. We have handled all types
of personal injury cases, from
car accidents to
premises liability and
wrongful death. We know how much compensation is fair compensation and we will fight
tirelessly to ensure that you receive the settlement or trial verdict
that you deserve. Our firm will do everything possible to settle your
case without trial, but we are not afraid to go to court when it is in
your best interests.
Contact us today for a free case evaluation!