Those harmed by other people or businesses have certain protections under the law. In certain scenarios, such as car crashes, there may be insurance coverage available. However, low insurance requirements and failure to conform with the law may make litigation necessary.
Those affected by the negligence or misconduct of another party may have the option of filing a personal injury lawsuit in pursuit of compensation. Such lawsuits require that plaintiffs request a specific amount of financial support from the party at fault for their injuries.
The three factors below are among the top considerations when determining how much to request in a personal injury lawsuit.
Property damage expenses
In a car crash, people may no longer be able to use their vehicle because it becomes unsafe to drive. They may require repairs or a brand-new vehicle. They may also need to account for the diminished resale value of the vehicle in the future and the value of any personal property damaged during the crash.
Medical treatment expenses
Anyone injured in a car crash or similar incident may require emergency transportation to the hospital. People may need to undergo emergency medical procedures for traumatic injuries and may require hospitalization. They might incur thousands of dollars in care costs in just a few hours. They also need to understand the long-term implications of their injuries. They may require physical therapy or additional treatment in the future. Their injuries can also potentially increase their care costs during their golden years. All of those expenses can contribute to the total value of a personal injury lawsuit.
Lost wages and earning potential
People who get hurt may need to take time off of work. Every shift they miss could translate to hundreds of dollars in lost income. In some cases, injuries are severe enough to prevent people from continuing their careers. Other times, they can only work in less demanding, lower-paid professions. People may need help estimating the total economic impact of lost wages, lost benefits and reduced earning potential when an injury affects their career development.
Those hoping to pursue compensation via a personal injury lawsuit may need help quantifying their losses. Evaluating the situation carefully with a skilled legal team can help people request an appropriate amount of compensation given their circumstances.