How can I calculate my claim value?

Categorized: General

How can I calculate my claim value?

Claim value is dependent on the damages suffered and which parties are at fault for the accident. PA accident lawyers in Southampton will consider the impact the accident and injuries have had on your life and can address any percentage of fault assigned to you when determining what your claim is worth.

Impact of Damages on Claim Value

Damages are the losses that an injured person suffers as a result of an accident. There must be evidence of damages in order to file a claim. If someone hasn’t been injured and experienced no other damages, there may be no cause to seek compensation.

The types of damages will factor into claim value. Some are easier to calculate than others. For instance, actual expenses that have been incurred can be added up. One example is the repair costs for a vehicle, or if it’s decided that after an accident a vehicle must be totaled, the blue book value can be determined.

Other incurred expenses include medical bills. These are common types of damages estimated when determining what your claim is worth. They could apply to ambulatory services, surgery, hospitalization, medication, rehabilitation and other injury-related costs.

Damages for lost earnings are fairly easy to calculate, too. The individual would need to have documentation that indicates how much work time was missed and the amount of money that would have been earned. If the injuries from the accident are disabling and the person can no longer work, expected future income might be calculated into a claim, though this can be more complicated.

Other damages that could be considered to determine what your claim is worth don’t have a specific value attached to them. Examples include pain and suffering, mental anguish, permanent disability, disfigurement, and more. A PA accident lawyer in Southampton may refer to actual damages and expert witnesses to estimate these non-economic damages.

Impact of Fault on Claim Value

While damages significantly impact what your claim is worth, just as important is who was at fault for the accident. In fact, an injured person would not be able to recover any damages if he or she was found to be 51 percent or more at fault.

Even if the individual’s fault is less than that, it could reduce the amount of damages available. Let’s say the value of a claim is $250,000, but the injured person was 30 percent responsible for the accident. This would mean the claim is reduced by $75,000 (30 percent of $250,000). In total, the individual would be entitled to recover $175,000.

This is why it’s critical that ample evidence is provided in order to show the other party was completely or mostly at fault. Talking with a PA accident lawyer in Southampton may help.

Seeking Legal Counsel with a PA Accident Lawyer in Southampton to Help Determine What Your Claim is Worth

With so much at stake after an accident, it’s often in the injured person’s best interest to seek legal advice if damages are significant and injuries are serious, disabling or life-threatening.

The law firm of Cordisco & Saile can assist with a claim and help estimate the value of your claim. PA accident lawyers in Southampton can evaluate the details and circumstances to determine the viability of a claim and potential claim value.

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