—
This content is for informational purposes only and is not intended to provide legal advice.
Personal injuries affect the quality of your life and create pressure and emotional distress. Beyond physical pain, you will also face hospital bills, medications, therapy, property damage, and wage loss. Such losses can be compensated based on the economic damages, non-economic damages, liability, and policy limits.
To obtain compensation, you must calculate the settlement amount, which is based on the extent of damages from these injuries. If you are unable to handle the settlements and calculations, a personal injury lawyer at Leonard Law Firm can assist you further.
The following factors are commonly considered when calculating a personal injury settlement amount.
Economic Damages
The financial costs, like medical bills, medication, therapy, and rehabilitation, are categorized as economic damages, which are measurable. These bills have to be kept safe for settlement, as they are proof of the expenses for your personal injuries.
Non-economic Damages
Personal injuries not only affect a person physically but also cause pain, suffering, and emotional distress. Such losses are called non-economic damages. The more the pain and trauma, the more the compensation will be.
Treatment from medical health professionals can serve as evidence that you are experiencing mental and emotional distress.
Loss of Income
Injuries need time to recover, and during this time, you will not be able to work, and you may miss bonuses. Some injuries can be serious, making it impossible for you to work again. Such losses can be considered and settled based on the future earning capacity and the past wage losses.
Property Damage
Property like vehicles, clothing, electronics, homes, tools, and machinery can be damaged due to an accident. To prove that you have suffered property damage, you have to document the damage by taking photos and videos. Then estimate the financial cost for replacement and repairs.
If you have the receipt of ownership for the property, then it would be an advantage, and if the property damage is severe, then the compensation would be more.
Liability
If it is clear that the other party is responsible for the personal injury, then the compensation can be higher. In such cases, it is important to prove the fault of the other party, and if there are disputes regarding who is at fault, opting for legal guidance is a better option.
In Arizona, the code § 12-2505 states that even if you are at fault, you can receive the payout, but it is based on the extent of your fault for the injury.
Evidences
Evidence like photos, videos, and witness statements is useful for more compensation because they can prove the severity of the injury and can determine who is at fault. The more evidence, the more the chances of a fair settlement.
Insurance Coverage
The insurance coverage of the party who is at fault can determine the compensation. If the at-fault party’s insurance coverage is less, it will not cover all your expenses or losses, and they can also be sued for not covering the total recovery costs. If the coverage is higher, the payout can cover all expenses.
Severity of Injury
Accidents may sometimes lead to spinal cord injuries, broken bones, brain injuries, tissue damage, and psychological issues. They can be compensated based on the severity of these injuries, and if the damage is more severe, then the settlement will be higher.
Key Takeaways
- Personal injuries cause emotional distress and trauma.
- The financial losses caused by the personal injuries can impact the victim and create pressure.
- Economic damages are medical bills, scans, diagnostic tests, and medical reports.
- Non-economic damages are the trauma and mental and emotional stress caused by the personal injury.
- Property damage, such as clothing, vehicles, electronics, and machinery losses, can be recovered.
- Costs can be recovered if the other party is liable for the incident.
- The insurance coverage of the at-fault party can determine the settlement amount.
—
