It is common knowledge that those who are the victim of an accident caused by another individual’s negligence are entitled to compensatory damages. However, those who are in this unfortunate position may be curious to learn just how much compensation can be successfully recovered.
Often, insurance agencies will rely on a formula to determine an exact number, but it’s important to understand what factors influence the final amount. A Miami personal injury lawyer can help you better understand the process, and protect your rights every step of the way.
Here are some important things to know about how compensation is calculated for personal injury cases.
Factors That Impact Compensation
- There are seven key areas that will be assessed to determine a suitable amount for your personal injury settlement. These include:
- Medical costs: It is important to save all medical bills to prove the costs associated with your injury, as the cost of medical treatment is ultimately the at-fault party’s responsibility. Your attorney will also factor in the cost of future medical treatment.
- Loss of property: If the accident resulted in any loss of property, such as a vehicle, this will be accounted for when determining compensatory damages.
- Loss of wages: Whether you miss a single day or are unable to work for an extended period of time, this is a notable factor. Any future lost wages resulting from ongoing treatment or an inability to perform certain tasks should also be considered.
- Emotional distress: The emotional toll an accident has on you should not be ignored when calculating damages.
- Loss of consortium: This involves assessing any negative impacts on your relationships as a result of the accident.
- Pain and suffering: It is no secret that pain is a factor in any personal injury case, and you deserve to be repaid for any physical distress.
- Loss of enjoyment: An injury could keep you from participating in activities or events, and a personal injury attorney will ensure the other party is held responsible for these damages.
The Importance of Legal Guidance
Ultimately, the compensation that your injury warrants will depend on a number of details. Therefore, seeking out the assistance of an experienced Miami personal injury lawyer is advisable. Your attorney can work through the various factors with you to determine what you are rightfully owed, even if that amount differs from that calculated by any insurance agencies involved. From there, your legal team will devise a strategy that will allow you to secure that amount and move beyond the accident.
If you have a case for our personal injury team, contact our office today to schedule a free consultation. Together, we can ensure you get the compensation you deserve.