If you have been injured in an accident, you may be wondering how you will pay for your medical bills and recover your lost wages. A personal injury claim can help you hold the responsible party accountable, and they may be required to compensate you for your injuries. But will your injury claim get you enough compensation to offset all your losses?
Personal injury claims can vary widely in value. The value of your claim depends heavily upon the specifics of your case because there are many factors that can affect how much your claim is worth. Dive into all the details below to learn how much your personal injury claim may be worth.
Factors Affecting the Value of Your Personal Injury Claim
There are many factors that can have an effect on the total value of your claim. The biggest factor affecting personal injury cases is the nature and severity of the victim’s injuries. Claims involving more severe injuries will be worth more than claims involving only minor or moderate injuries.
For instance, a car accident claim involving only minor injuries might only be worth a few thousand dollars. However, a truck accident claim involving catastrophic injuries could be worth more than $1 million. Some of the other factors that can affect the value of your claim include:
- The amount of your medical bills
- How much time you missed from work
- Whether you will be able to return to work
- Permanent or lasting effects of your injuries
- How your relationships with friends and family have been affected
- The amount of insurance coverage applicable to the accident
- Whether you share any responsibility for the accident
The best way to get an accurate estimate of the value of your claim is by seeking the advice of an experienced personal injury attorney. An attorney can evaluate your claim and help you understand how much it may be worth.
How Insurance Can Affect Your Claim’s Value
As mentioned above, insurance coverage can have a significant effect on the ultimate value of your personal injury claim. This is especially true for cases involving severe or catastrophic injuries.
Consider a car accident in which the victim suffers severe injuries. The amount of compensation they can recover may be limited to the insurance coverage available. Even though the other driver may be legally responsible for the damages, they often do not have the money or assets to cover them personally.
In this example, the victim may have damages exceeding $250,000. However, if the policy limits of the applicable insurance coverage are $100,000, the victim may be limited in their recovery to those limits. An experienced personal injury lawyer can help victims consider all potential sources of compensation, including strategies such as stacking insurance coverage, to ensure the victim is fairly compensated.
Damages Available in Personal Injury Claims
Personal injury claims are designed to compensate the victim for their losses. This compensation includes financial losses and physical and emotional pain and suffering. Two basic types of compensatory damages are available in personal injury cases – economic and non-economic damages.
Economic damages
Economic damages are meant to compensate the victim for their financial losses. These types of damages are typically easy to calculate because there are receipts, bills, or invoices associated with them. Common examples of economic damages include:
- Medical bills
- Lost wages
- Future lost earnings capacity
- Physical therapy
- Rehabilitation expenses
- Home health care
- Property damage
In addition to economic damages, victims are also entitled to recover compensation for their non-economic damages.
Non-Economic Damages
These damages are harder to calculate because they do not have a specific financial value. Common non-economic damages in personal injury claims are:
- Pain and suffering
- Mental distress
- Anxiety
- Depression
- PTSD
- Loss of quality of life
- Loss of consortium
- Permanent disfigurement
The more severe your injuries, the more your non-economic damages are likely to be worth. An experienced lawyer can help you put a proper value on these damages and ensure that the insurance company does not take advantage of you with a lowball settlement offer.
Common Types of Personal Injury Claims
When someone mentions a personal injury claim, many people immediately think of car accidents. However, there are many other types of personal injury claims in which victims may recover damages against the responsible party. Some other common types of claims are:
- Truck accidents
- Dog bites
- Medical malpractice
- Pedestrian accidents
- Slip and fall accidents
- Boating accidents
- Motorcycle crashes
- Workplace accidents
Each type of personal injury claim is unique, and the laws surrounding each one can be slightly different. If you have been injured in any type of accident, seek medical treatment, document details about the accident, and talk to an attorney.
Can I Still Get Compensation If I’m Being Blamed For My Accident?
Unfortunately, Alabama follows a legal doctrine known as contributory negligence. This means that you may be barred from recovering compensation from other parties if your negligence was partially responsible for your accident. Many other states follow a rule known as comparative negligence. Under this rule, victims may still recover reduced damages even if they were partially at fault.
A common tactic insurance companies use to avoid paying a claim is to blame the victim for the accident. It is critical to have as much evidence as possible to prove your case and defend yourself against these types of tactics. Remember that the insurance company is out to protect their bottom line, so you will often have to fight to receive the compensation to which you are legally entitled.
Get Help From a Personal Injury Lawyer Today
Personal injury claims can get complicated, and insurance companies will often attempt to minimize your injuries. If you have been injured because of someone else’s negligence, reach out to Belt, Bruner & Barnett Personal Injury Lawyers today at (205) 206-5088. We can investigate your claim and help you hold the responsible party accountable. Give us a call to schedule your free consultation with a personal injury lawyer now.