What Is Your Personal Injury Case Worth?
After a Tennessee accident, you may have hospital bills, ongoing medical expenses, and damaged property that results in costly repairs. If you cannot work, the financial burden, in addition to the stress and pain of your injuries, can be overwhelming. You might wonder what is your personal injury case worth?
Obtaining an estimate for the potential value of your case can provide peace of mind about your financial future. An experienced personal injury attorney can help you get an estimated personal injury case worth and maximize the value of your claim.
Economic vs. Noneconomic Damages
The value of a claim varies significantly from one case to another. The type of damages you suffered due to the accident affects the financial compensation you might receive.
Economic damages are those related to the financial costs of your accident. They include:
- Medical bills
- Property damage
- Lost wages
- Travel costs
- Out-of-pocket expenses such as co-pays and prescriptions
Noneconomic damages are intangible losses, and placing a value on them can be challenging. They take several factors into account, such as:
- Emotional distress
- Mental anguish
- Loss of consortium
- Loss of enjoyment
- Physical pain and discomfort
These damages are calculated at the jury’s discretion. The Multiplier Method and Per Diem Method are the most common equations used in personal injury cases, but they aren’t required. If your accident involved malice or gross negligence, the court might award punitive damages, which are meant to punish the defendant rather than reimburse you.
How Types of Damages Affect Your Personal Injury Claim Value
What is your personal injury case worth? Every situation is unique, and its value depends on the type and amount of damages.
Medical expenses represent the total amount of the costs related to your physical recovery, regardless of whether you had to pay out of pocket. They might include physical therapy, nursing care, ongoing medical treatment, and future rehabilitation. If your injuries require future surgeries or procedures, compensation may also include the potential expense and the related costs. Other factors taken into consideration include:
- Age and your overall health
- Defendant’s actions
- Emotional impact
- Insurance coverage limits
- Injury severity
- Number of liable parties
A personal injury attorney can help you make a comprehensive list of all losses associated with your accident. You can get an estimated personal injury case worth by using pay stubs, receipts, and other documentation to calculate the economic damages.
Personal Injury Attorneys in Knoxville, TN
The compassionate team at Myers Law Firm understands the pain and confusion that often accompanies an injury. We can discuss the details of your case and estimate what is your personal injury case worth. Contact us to schedule a free initial consultation to learn about your options and let us help you through the claims process.