Know More About The Value And Worth of Personal Injury Claims

Personal injury claims or lawsuits are fairly common and many people have been well compensated for their injury, the loss of income, and the costs of medical care. There are certain points to take into consideration when determining compensation in personal injury claims, although the calculations for some of the aspects of loss are an educated guess.

For anyone considering filing a personal injury claim, or know someone who is, the process of trying to figure out the compensation and what compensation includes can be challenging. While a lawyer is your best option to navigating the legal waters to get any money an injured person may be due, it’s a good idea to learn the basics of the process of a personal injury claim and what compensation means.

Determining Compensation

There is no one size fits all formula to determine the compensation a plaintiff can claim. It depends on the type of accident and the situation of the claimant’s life before the accident. Scope, severity of injury and loss, future health care costs, present or future quality of life, emotional and psychological stress, and the present or future loss of income or employment are all considered.

A general calculation is used to judge the amount of money that can be paid to the plaintiff. It’s based on severity of impact and adjusted on a sliding scale. The highest amount of compensation is paid out for the most severe injuries.

Personal Injury Compensation

When most people think of payment being offered as a result of an injury, they think about what is called in the legal world, “general non-pecuniary damages.” There is a cap payout of $350,000 for these types of payments. The payments include the loss of enjoyment as a result of the accident and pain and suffering. The cap amount is paid out in the most severe cases like significant paralysis or brain damage.

Those who have been injured are generally unable to work as a result of their injury. As a result, many people seeking compensation will also look to be awarded the loss of past and future earnings. The amount paid is calculated on the length of time for recuperation, if recuperation is possible, as well as if the person is able to return to their original job. Sometimes compensation includes the missed pension payments and the benefit plan. Compensation can be paid based on net or gross income. These factors in compensation will depend on specific facts of a case. Hiring an experienced personal injury lawyer will help a claimant get the most compensation possible if they have been injured enough to impact their quality of life.

If the person who caused the injury did so in an obscene, excessive or flagrant manner, a plaintiff may qualify for aggravated or punitive damages. The purpose of punitive damages is more to punish the offender than to provide financial compensation to the plaintiff. While the plaintiff gets the money, the goal of punitive damages lawsuits is to punish the offender. Medical malpractice, police harassment and physical or sexual assault are examples of lawsuits in which punitive damages might be sought.