How Much Is My Personal Injury Claim Worth?

how much is my personal injury claim worth

When you’ve been injured in an accident, the last thing on your mind is calculating how much money you can expect from a personal injury claim. You’re likely dealing with a lot of pain and stress over what has happened to you.

But understanding how much compensation you can expect may give you some peace of mind about your case.

In this article, we’ll explain various factors that will affect how much compensation you’ll receive for your personal injury case. If you have more questions, be sure to contact The Jones Firm. We’ll help you get the compensation that you deserve.

Calculating Damages

Damages are typically divided into two categories: economic and non-economic.

Economic damages are intended to compensate you for measurable expenses, such as medical bills and lost wages. Non-economic damages are more subjective and are meant to compensate you for non-physical losses, such as pain and suffering.

When calculating economic damages, you must provide evidence of the financial costs incurred due to the injury. This can include medical bills, lost wages, and receipts for out-of-pocket expenses, such as transportation and childcare costs. You must also provide evidence of the financial losses likely to be incurred in the future, such as future medical bills, lost wages, and decreased earning capacity.

Non-economic damages include compensation for physical and emotional pain and suffering, loss of enjoyment of life, and mental anguish. Factors to be considered when calculating non-economic damages may include your age, the duration of the injury, and the impact of the injury on your life.

You may also be entitled to punitive damages. Punitive damages are intended to punish the wrongdoer and prevent them from acting similarly in the future. Punitive damages are typically awarded in cases where the wrongdoer acted with malice or gross negligence.

Factors That Affect Settlement Amounts

It’s also important to note that there are several factors that can affect your settlement amount.

Some factors can include:

  • The severity of the injury — The more severe the injury, the more serious the consequences, and the greater the compensation amount.
  • Medical treatment required — If the injury requires surgery, a lengthy hospital stay or, inpatient rehabilitation, the settlement amount is likely to be higher.
  • Lost wages — Lost wages resulting from an inability to work during recovery from an injury are a key component of economic damages. If the injury resulted in permanent disability, the settlement amount may reflect the loss of future wages and the inability to earn an income.
  • Pain and suffering — The greater your pain and suffering are, the more compensation you might receive.

Due to all of these components, it can be difficult to determine a common settlement amount for personal injury cases.

Working With a Lawyer

Personal injury lawyers can provide legal advice and representation on your behalf if you have been injured in an accident due to someone else’s negligence. A good lawyer will help you determine the amount of compensation you should seek based on factors like medical expenses, lost wages, pain and suffering, and other damages.

Not only can a lawyer help you calculate your damages, but they will also maximize your accident settlement.

For example, they will gather evidence, talk with witnesses, and negotiate with the insurance company for you. If the insurance company fails to give you a satisfactory settlement amount, your lawyer will represent you in a lawsuit.

Contact The Jones Firm Today

Ultimately, the value of a personal injury claim is determined by the facts of the case.

However, it is important to note that the worth of a personal injury claim can be impacted by the severity of the injury, the number of medical expenses incurred, and the degree of fault of the individual or entity responsible for the injury. It is important to consult with an experienced personal injury attorney to assess your case and determine the value of your claim.

The Jones Law Firm can help you calculate your losses and ensure that you get fair compensation for your damages. Call us today to schedule a free case review.

Author Bio

Geoff Jones is the CEO and Managing Partner of The Jones Firm, a personal injury law firm in Columbus, Ohio. With years of experience in personal injury law, he has zealously represented clients in a wide range of legal matters, including car accidents, medical malpractice, slip and falls, wrongful death, and other cases.

Geoff received his Juris Doctor from the Ohio State University Moritz College of Law and is a member of the Columbus Bar Association. He has received numerous accolades for his work, including being selected to Super Lawyers Rising Stars for 2022-2023.

LinkedIn | State Bar Association | Avvo | Google