Types of Compensation in a Personal Injury Claim
In any personal injury case, the accident victim (plaintiff) may be entitled to financial compensation from the at-fault party (defendant). This compensation is referred to as damages. There are three potential types of damages for a personal injury case: economic, non-economic, and punitive damages. Economic and non-economic damages compensate an injury victim for their losses, so they are considered compensatory damages. Punitive damages punish someone who acted intentionally or recklessly, like a drunk driver. Economic damages cover all direct financial losses. They include money for things like property damage, lost wages, reduced earning capacity, medical bills, and future medical care. Economic damages can even pay for things like renovations to your home to make it accessible. Non-economic damages pay for intangible losses, which can be hard to measure – but are just as important as economic damages. Examples of non-economic damages include pain and suffering, loss of enjoyment of life, scarring, disfigurement, and emotional trauma. Insurance companies often use a formula to determine the number for non-economic damages. They assign a “multiplier” to the case based on how serious they think the accident was, and then multiply it by the amount of economic damages. While this formula is relatively easy to use, it often results in dramatically underpaying accident victims for their non-economic damages. An experienced Long Island personal injury lawyer won’t simply add up your bills and then multiply them to come up with a number for non-economic damages. They will consult with experts and use their experience handling similar cases to develop a request for damages that truly addresses the harm that you suffered. Punitive damages may be awarded in more unusual cases where the defendant acted intentionally or recklessly. Most personal injury cases are based on a theory of negligence or carelessness – like rear-end accidents caused by misjudging the distance between vehicles. If the defendant wasn’t just careless, then a jury may decide to penalize by awarding punitive damages. Based on the facts of your specific case, you may be entitled to economic, non-economic, and/or punitive damages. Your Long Island personal injury attorney can offer you advice on the likelihood of recovering these types of damages for your case – and give you an estimate of the value of your claim.Factors That Affect the Value of a Personal Injury Settlement
Each personal injury case is unique, which means that there isn’t an average settlement for a New York injury claim. The value of each claim is based on factors such as:- Who caused the accident;
- If liability is clear;
- If the accident victim is partially at fault (comparative negligence);
- If the plaintiff is permanently disabled and/or seriously injured;
- The cost of necessary medical care;
- If future medical treatment is necessary;
- How long the plaintiff was unable to work and whether they have any restrictions upon their return to work;
- The amount of any property damage; and
- The defendant’s insurance policy limits.
- $1.6 million for a fall that resulted in pelvis, back, neck, and leg injuries
- $1.5 million for a commercial truck accident that caused spinal cord injuries
- $725,000 trial verdict for an intentional physical assault
- $600,000 verdict at trial for a pedestrian accident
- $555,000 settlement for a bicycle accident
- $350,000 verdict at trial for a motorcycle crash
How Our Law Firm Can Help
After an accident, you may be under a lot of physical, financial, and emotional strain. Filing a lawsuit won’t necessarily make you whole again, but it can help you get the financial compensation that you deserve. Our team of dedicated attorneys will work with you to help you get a fair settlement for your injuries. The Odierno Law Firm represents accident victims throughout Long Island. We will fight to help you get maximum compensation for your injuries. To learn more or to schedule an appointment with a Long Island personal injury attorney, give our law office a call at 631-752-8580 or fill out our online contact form. Related: Long Island E-Scooter Accident Lawyers Average Pedestrian Accident Settlement in New York Average Slip and Fall Settlement in New York Airbnb Injury Lawyers Long Island What Happens When You Reject an Insurance Settlement Offer Dog Bite Personal Injury Claims Long Island How Much Does a Personal Injury Lawyer Charge in New York? Types of Damages in an Accident or Injury ClaimThe Odierno Law Firm, P.C., a personal injury firm serving the residents of Long Island, has been dedicated to helping the wrongfully injured recover the compensation that they deserve for the past 30 years. The legal team at our firm handles a wide variety of injury cases such as: auto accidents, medical malpractice, wrongful death and many more! Our firm understands how devastating it can be to suffer a serious injury at the hands of a negligent party or individual, and for this reason, we do whatever we can to help our clients obtain the justice that they are looking for. If you have been involved in an accident and you believe that someone else is responsible for causing your injuries, do not hesitate to contact an experienced lawyer from our firm today. We offer a free consultation to anyone that is looking for answers.