Whether you sustained a serious injury in a car accident or a slip and fall accident, money is required to cover your medical expenses and pay your bills if you are ordered not to work until you make a full recovery. If a negligent party caused your injury, they are liable to provide your entitled compensation.
At Haffner Law Group, the most common question we receive is “how much is my claim worth?” In this post, we will discuss the factors involved in calculating damages.
Types of Compensatory Damages
Personal injury damages are typically considered as compensatory,” meaning that the money the victim receives is to compensate for what he or she has lost due to the accident and injury. Compensatory damages are awarded to make the victim complete or whole again – from a financial perspective. The insurance company or judge must determine a dollar amount on all the consequences of the accident which led to injury.
Common types of compensatory damages include:
- Medical care. The cost of medical treatment as a result of the accident is almost always included in a personal injury claim. It is meant to reimburse the care the victim already received, as well as compensation for the estimated cost of medical treatment in the future.
- Loss of income. Serious injuries often force people out of work, which means that a personal injury claim can compensate for lost wages. Not only can a claim obtain money already lost, but also wages that the victim would have received in the future.
- Loss of property. Property such as vehicles, clothing, or devices were damaged due to an accident, the victim is entitled to reimbursement for repairs or compensation based on the value of the property which was lost.
- Loss of consortium. Related to the impact the injuries have on the victim’s relationship with their spouse or children, such as loss of care, support, and love.
- Loss of enjoyment. Damages for losing the ability to enjoy day-to-day activities, such as hobbies or exercising.
- Emotional distress. Damages meant to compensate a victim for the psychological impact of an injury, such as anxiety, fear, and sleep loss.
- Pain and suffering. Damages mean to compensate for pain and serious discomfort the victim suffered during the accident and in its immediate aftermath.