Calculating Damages in a Personal Injury Lawsuit

One of the most essential services that a personal injury lawyer will perform is calculating the amount of damages that the other party may owe you. When you are able to establish that someone else was to blame for your injuries, they have the legal obligation to compensate you fully. However, it is up to you to know the amount of damages that you should receive, and you should not rest until the insurance company is willing to pay them to you. A personal injury attorney can assist you in learning the potential amount of your compensation.

You Can Be Paid Past and Future Damages

Personal injury damages are both retrospective and forward-looking. In other words, you are entitled to be paid for how you have suffered and what you may lose. You may wonder how you can see into the future, which is one of the more difficult challenges in a personal injury claim. Your attorney would review your medical records and your future prognosis to help you calculate these damages.

Categories of Damages in Your Personal Injury Case

Generally, there are two major categories of Damages in a personal injury lawsuit:

• Economic damages compensate you for the financial losses you suffered due to your injuries.
• Non-economic damages pay you back for the experience that you have been forced to endure because you were injured.

Punitive damages are very rare in a personal injury case. You will generally only receive punitive damages if you win at trial and the defendant has an egregious level of fault. Your attorney may advise you that it is in your interest to seek punitive damages if you have to file a lawsuit. However, you may not get these damages in a “standard” car accident or slip and fall case.

How Are My Economic Damages Calculated?

Economic damages may consist of your medical bills and lost wages. Your personal injuries may have impacted your ability to work. You may have missed considerable time at work and can be compensated for it. Knowing how your future earnings could be affected may be even more challenging. You could lose potential promotions, or your career trajectory could have been permanently altered.

How Are My Non-Economic Damages Calculated?

Non-economic damages are complicated to calculate. This category of damages should be entirely subjective and depends on the experience you have been through and will deal with in the future. The bulk of non-economic damages are pain and suffering. These damages should be subjective, no matter how much the insurance company tries to make them objective. You may have suffered more than the average person because of your situation, and you can be compensated for how you have been affected. Non-economic damages can exceed the amount of your economic costs, and you must be compensated for all of them.

Know What You Are Due Before You File a Claim

You must know the total amount of your damages before you file a claim or lawsuit. The insurance company has this information; you must have it, too, to be on equal footing with them in settlement negotiations. However, it is difficult for the average person to know and understand what they may be due in a personal injury case. An experienced personal injury attorney can review your situation and work with expert witnesses as necessary to help you figure out how much you may be owed.

Contact the Fayetteville Personal Injury Lawyers at Osborne & Wilmoth to Learn More

If you have been involved in any type of accident, the Fayetteville personal injury lawyers at Osborne & Wilmoth can help you learn how much compensation you can receive and fight for you to get every dollar you deserve. Call 479-521-7727 or contact us online to schedule a free consultation. Located in Fayetteville, Arkansas, we serve clients in the surrounding areas.