How Can I Determine The Value Of My Personal Injury Claim?

When you’re injured due to someone else’s negligence, you’re not just facing physical pain but also emotional and financial burdens. To effectively pursue recovery for your losses, it is necessary to understand the value of your claim. The value of your personal injury claim in The Villages depends on the severity of the incident and its impact on your life.

Numerous factors go into assessing the seriousness of an injury and its impact on a victim’s life. A personal injury lawyer from Mickey Keenan P.A. can help you evaluate all the relevant factors around your accident to determine the worth of your claim. Fairly determining the value of your claim is key to seeking and obtaining compensation that adequately covers your losses. Read on to understand how to assess the value of your personal injury claim.

Key Factors Influencing Your Claim Value

The value of a personal injury claim depends on many variables. Your lawyer will assess many areas in which the accident impacted your life to determine all possible recoverable damages. Mainly, they will be assessing the following factors:

Medical Expenses

A key factor in determining the value of a personal injury claim is the cost of medical treatment. This includes several areas of treatment, such as surgeries, emergency treatments, ongoing rehabilitation, and prescription medications. Make sure to keep records of all your medical bills, as they will serve as a foundation for calculating the compensation you’re owed.

Lost Wages and Future Earnings

If your injury has caused you to miss work temporarily or permanently, you’re entitled to recover lost earnings. In some cases, the injury might affect your ability to earn a living in the future. Your personal injury attorney in The Villages will help calculate both past and future earnings lost due to your injury. This ensures you’re compensated for not only the temporary loss of earnings but also your long-term financial impact.

Pain and Suffering

Pain and suffering aren’t as easy to calculate as medical costs or lost earnings, but they play a huge role in the overall value of your claim. Florida law allows you to obtain damages for both physical pain and emotional suffering when you file a third-party claim, which can be important depending on the severity of the injury.

When assessing the value of pain and suffering, factors such as the extent and duration of your physical pain, emotional burden, and overall impact on your quality of life are considered. Courts or insurance companies like to use a “multiplier method,” where they multiply your quantifiable financial losses by a number determined based on the seriousness of your injuries.

Alternatively, they can choose the “per diem” method, where they’ll assign a daily monetary value to your suffering and multiply it by the number of days you experience pain. It is the duty of your personal injury attorney to ensure your pain and suffering damages are accurately evaluated.

Comparative Negligence

Comparative negligence might affect the ultimate value of a personal injury claim by assigning a portion of fault to each party involved in the incident. Florida adopts a “pure comparative negligence” approach, which means your recovery would be reduced based on your assigned level of fault in the incident Florida Statutes 768.81.

For example, if your total recovery amounts to $100,000 but you are found to be 30% at fault, your recoverable compensation would be reduced to $70,000. This ensures that you can still recover damages even if you bear some responsibility, though the payout will reflect your degree of fault. However, your attorney will fight to minimize your level of fault and secure the highest compensation possible.

Insurance Coverage

The available insurance coverage, both from the at-fault party and your own insurance, will also influence the claim’s value. If the party responsible has minimal coverage, it could limit your compensation unless other sources, such as your underinsured motorist coverage, are available.

Work with a personal injury attorney who can investigate all potential sources of compensation and negotiate aggressively with insurers. Insurers may try to lowball your claim. Therefore, follow your attorney’s advice to avoid under-settlement.

Call A Personal Injury Lawyer In The Villages Today

If you’ve been injured in The Villages, don’t leave your financial future to chance. At Mickey Keenan P.A., we have the experience and resources to handle every aspect of your case, from gathering evidence to determine the full value of your claim to negotiating an adequate settlement. Our personal injury team will investigate your current and future losses to seek a fair settlement that accounts for your losses.

Reach out to us for a free consultation and learn how a Florida personal injury lawyer can assist.