The process of calculating compensations after a personal injury accident will depend to a great extent on the nature of the accident itself and, of course, on the severity of the injuries. Most personal injury claims include monetary compensations for the associated medical expenses and then there are those cases that leave the victim’s life altered forever. These are the catastrophic injuries and are compensated for accordingly.
What can you be compensated for?
Broadly speaking, there are two types of damages that can be compensated for after a personal injury accident: economic and non-economic ones.
The economic ones are also referred to as the compensatory damages and are awarded purely for the purpose of covering the monetary expenses including the medical treatment and any lost income if the victim was incapacitated for a long period of time and was unable to derive income as usual.
The non-economic damages are those that cannot have an easy to calculate value and include the pain and suffering, post-traumatic stress and even loss of companionship in those cases where the plaintiff is an individual who has lost a loved one due to another’s negligence.
Insurance companies will sometimes try to minimize your claim or, in other words, they will try to offer you a settlement that is below the minimum amount that would cover all of the damages you are entitled to. One option to avoid this is to work with a Los Angeles personal injury lawyer.
What damages should you include in your settlement?
One easy way to calculate the damages is to use an online settlement calculator. This is a simple tool that will add up the expenses you know you incurred after an accident. You can add up the following:
- medical expenses, both present and future;
- lost income, both present and future;
- actual damages: to our car, home, other types of assets.
The personal injury calculator will help you get an estimate of the least amount of settlement you should present when negotiating your compensation. However, this simple tool will not replace the actual legal aid and counseling offered by an attorney. If you were involved in a personal injury accident, a recommended step is to talk to a professional.