Pinning down your claim’s value is hard right out of the gate, as it depends on several factors, including your injury severity and prognosis, whether you can return to work and the duties you will and won’t be able to do, the cost of your medical expenses and future treatment needed, the impact of your injury on your quality of life, who is at fault for your accident and whether you contributed, and the insurance coverage of the liable party.
Determining the value of your claim is a key responsibility of your Weslaco personal injury lawyer. We will seek professional opinions from medical practitioners, economic experts, and investigators to maximize your claim. Hence, you get the financial support you deserve as you navigate the aftermath of your accident.
We have built a personal injury calculator you can use to get a rough idea of the value of your claim, but this is not guaranteed and does not consider the specific details that can drastically alter the outcome of a claim. Our personal injury attorney can provide an accurate ballpark figure after discovering more about your case.
However, it can be helpful to understand how compensation is calculated and the various damages you could be entitled to.
Damages are split into two categories: compensatory and punitive (or exemplary) damages.
Compensatory Damages
Compensatory damages comprise economic and non-economic damages. Economic damages are the tangible expenses associated with your accident and include past and future medical bills (including surgery, hospital stays, rehabilitation, and home adaptations), lost wages, lost earning capacity, and property damage. These are fairly easy to determine if you have bills and receipts, although future costs are more subjective and open to interpretation.
Non-economic damages include pain and suffering, mental anguish or emotional distress, loss of companionship or consortium, and loss of enjoyment. While economic damages represent the financial burden of your accident, non-economic damages primarily concern how your injury impacts you personally.l
Punitive Damages
Punitive damages, also called exemplary damages in Texas, serve as a deterrent and punish the person or party responsible for your accident. They are typically awarded when the actions that caused your injury were especially egregious, such as if somebody intentionally drives at you head-on or gets behind the wheel after a night of heavy drinking.
Punitive damages are less common, primarily because they can only be awarded in a personal injury lawsuit, and most cases are resolved out of court in a settlement agreement between parties to maintain privacy and avoid a lengthy, costly, and uncertain trial.
The best way to see how much your claim could be worth is to speak to a Weslaco personal injury lawyer.