6 Factors That Help to Determine a Settlement Value

When you negotiate a personal injury claim, you need to have solid evidence for the amount of money you’re seeking. Your attorney can help you determine this amount based on six factors that play a role in settlement value.

Medical Expenses

Chances are if you’re filing a personal injury claim, your accident and injuries are fairly significant. When you receive a medical bill, make a copy of it and put it in a separate folder. When your doctor recommends physical therapy or another type of treatment, get it documented and place that document in your folder as well. Even if you didn’t pay for your medical expenses out of pocket, you need to keep a running total of how much they add up to.

Future Medical Expenses

It’s especially important you have your doctor create a document that outlines future medical expenses you can expect to pay. If your condition is going to require future surgery, permanent prescription medication, or another type of ongoing care, you’ll need the funds to pay for that care.

Property Damage

This is typically only a factor in car accident cases. You’ll do the same thing you did with your medical expenses. Make a copy of all the bills required to repair or replace your car or other property and hold on to it so you know the total amount you have spent.

Lost Wages

If you had to miss work as a direct result of your accident and your injuries, you’ll need a document that shows the wages you lost. Your employer can create this document for you so it’s an exact number instead of an estimate. Even if you used PTO, you should list those hours as if you didn’t use it.

Future Lost Wages

Ongoing treatment or serious injuries could result in you missing work in the future. If you have to downgrade your job because of your injuries, there could be a serious pay cut. You should be compensated for that happening as a result of your accident.

Pain and Suffering

Injuries that result in greater pain are typically going to result in greater compensation. This includes mental and physical pain such as loss of consortium, loss of enjoyment of life, and a variety of other similar issues.

Learning More from Your Lawyer

When you’re trying to decide whether to fight your personal injury case, keep in mind there are a lot of factors at play. Contact an attorney, like a personal injury attorney from David & Philpot, P.L, to learn more about your possible settlement value.