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Worth Filing: Determining Financial Compensation In Your Personal Injury Lawsuit

21 October 2015 by Franklin Vasquez

If you have been injured in a car accident and another person was at fault, you may be entitled to financial compensation. When determining financial compensation in a personal injury lawsuit, the amount you are compensated depends on the damages you incurred. You can try to settle with an insurance company without going through a trial, or you can take your case through a trial and let the judge determine financial compensation. When you know what your case is potentially worth, it is easier to settle on a number with an insurance company.

Financial Compensation for Medical Treatment

If another person is liable for your injuries, you should not have to pay for your medical expenses. As part of your financial compensation, reimbursement for current and reasonable future medical expenses will be considered. Most financial awards in a personal injury lawsuit contain a set amount for medical expenses that you would not have incurred otherwise.

Loss of Income

If you are out of work because of your injuries, you may be entitled to compensation for lost wages. If you are permanently injured and no longer able to be gainfully employed, the amount you could be compensated will rise. Depending on your age, and the amount of money you were making a year prior to the accident, your award will rise the younger you are at the time of the accident. Your future earnings will be taken into consideration, and the younger you are, the longer you had left to work.

When Property Is Damaged

Another aspect considered when determining financial compensation is the property you lost because of the accident. If your car was totaled, if you lost expensive jewelry, electronics or clothing, it is possible that you will be compensated for each of these items as part of your overall award. 

Pain and Suffering

This category for financial compensation in a personal injury lawsuit is the one that varies the most. There is no specific dollar amount to measure, as with lost wages or destroyed property, so this number varies greatly from case to case. The severity of your injury, as well as how long the injury is expected to last will be taken into consideration. Emotional distress is also taken into account, and can be used to decide on a dollar amount to award you.

When you have been injured in a car accident and you aren't sure about the viability of your case, it is always best to meet with a lawyer like Palmetto Injury Lawyers to talk about your options.

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