You should seek compensation after suffering injuries and damages from a negligent party. You must hold the at-fault party responsible for your losses. It is unacceptable to bear the pain and still suffer the financial consequences. 

“However, knowing the compensation you can recover in your personal injury claim is essential. It will help your demand to be the right amount and will safeguard you from shortchanging yourself,” says personal injury attorney Bryan Doran of Doran Law.

This article sheds light on the types of compensation available to a victim in a personal injury claim:

Understanding Economic Damages

This is the foremost category of compensation. Economic damages deal with tangible losses. They are the measurable financial losses that you suffer in an accident. 

The essence of economic damages is to restore you to your financial status before the accident. The components of these damages include:

Medical Costs: What You Pay for Your Health

Medical bills are the most pronounced aspect of a personal injury claim. You need to visit the hospital immediately after your accident. You can spend a substantial amount on your health, depending on the severity of your injuries. 

Your medical costs also entail emergency room visits, surgeries, hospital admission, ongoing medical care, and future medical needs. 

Lost Earnings and Loss of Earning Capacity: How Accidents Incapacitate

The accident may prevent you from working for some days or weeks. You can demand lost wages if the accident is responsible for your inability to work. 

Lost wages will cover the earnings you lose during recovery. At the same time, loss of earning capacity will compensate you for a permanent disability preventing you from continuing your current job. It caters to the shortfall between your old and new job roles.

Property Damage: How Your Possessions Suffer in an Accident

The accident may also destroy your personal property. For instance, an auto accident may affect your car badly. You can demand compensation for repairs or replacement.

You can also demand compensation for damaged personal belongings. Examples include clothing, mobile phones, and laptops. 

Out-of-Pocket Costs: Spending Beyond Imaginations

Victims of severe harm may have to pay out-of-pocket expenses, which include transportation fares, caregiving assistance, and home modifications. 

Shedding Light on Non-Economic Damages

Non-economic damages are intangible losses. They don’t have clear monetary values. These damages compensate victims for emotional distress, pain, and suffering. 

The components of non-economic damages include:

Pain and Suffering: The Consequences of Negligence

Pain and suffering account for the physical and emotional torture that a personal injury victim undergoes. Victims suffer pain from chronic pain, fractures, and disabilities. 

Your attorney will consider the severity of your harm, its influence on your daily life, and the duration of suffering to know the appropriate compensation to demand.

Psychological Anguish and Emotional Distress

Beyond the physical impact of injuries, they also affect victims emotionally and mentally. Thus, you must hold the at-fault party responsible for your emotional and psychological well-being. The manifestations of emotional distress and psychological anguish include depression, anxiety, post-traumatic stress disorder, and loss of enjoyment of life. 

Documenting your struggles through journaling, therapy sessions, and medical records is essential because your experiences are unique. You can also use expert testimony to strengthen your claim. 

Loss of Companionship: The Hidden Consequences 

If your injuries negatively impact your family and loved ones, they can also take legal action against the at-fault party. They can institute a lawsuit for the deprivation of affection, support, and companionship that you used to offer them.

Specifically, children can sue for loss of parental guidance, while your partner can sue for loss of spousal support and intimacy. Close family members can also institute a suit for strain in familial relationships. 

How Punitive Damages Work in Personal Injury

The court awards punitive damages when the at-fault party acts intentionally or grossly negligent. The person acts carelessly and does not regard your well-being. The essence of these damages is to serve as deterrence to others.

Instances where punitive damages may apply include fraud, medical malpractice, and reckless driving. If an individual behaves exceptionally negligently, they must face the consequences. 

Factors That Affect Your Compensation

After understanding the possible compensation available to you, it is also essential to know the different factors that can affect the amount you can recover. The factors that affect your payout include:

The Severity of Your Harm

The severity of your harm is the chief factor in determining compensation. The more severe your injuries, the higher your payout. Examples of severe injuries include permanent disabilities, traumatic brain injuries, and spinal cord damage.

Your claim must capture the cost of present and future medical needs. You must consider the long-term implications of the harm before making any claim. However, if you sustain a minor injury, the settlement payout will be minimal

Insurance Policy Limits 

You must also consider the guilty party’s ability to pay. You may not be able to recover full compensation if the at-fault party has limited insurance coverage or negligible financial assets.

However, you can get a higher compensation if you are dealing with large enterprises or businesses. You must work with an attorney to assess the situation and advise you accordingly. 

Daily Impact and Influence on Future Earnings

If an accident disrupts your life, you must make the at-fault party pay severely. Your attorney must explain how the injury affects you daily and its long-term effects to the court. You can recover damages for lost earning potential if you cannot return to your previous role. 

Reduced quality of life, emotional distress, and depression may also account for an increase in payout. Ultimately, you must consider all prevailing factors so you will not shortchange yourself.

The Potency of Proof and Legal Expertise

What you make out of any case depends on the potency of your evidence. That is why you must engage a reputable local personal injury attorney immediately after your accident. You will collaborate with your attorney to gather evidence and present it convincingly.

You need police reports, medical records, graphic images, eyewitness accounts, daily journals, and expert testimony to buttress your claim. Everything must align for the court to believe your claim. 

Wrapping Up

The first step to maximizing compensation is engaging a qualified, results-driven, local personal injury attorney. You must have strong legal representation to increase your chances of success. You must also liaise with your attorney to gather evidence. 

You must document your daily experiences and adhere to your physician’s advice. Avoid missing follow-up appointments. Ultimately, allow your lawyer to interact with the other party and their insurers.