If you've been injured in a motorcycle accident, you may be wondering what your claim is worth. The value of your claim will depend on a number of factors. We'll look at how liability and damages work together to affect the value of your claim. We'll also discuss how damages are calculated and provide tips for estimating future lost earnings. Each case is unique, so if you have specific questions, it's best to speak with an experienced motorcycle accident attorney.
Ask a Motorcycle Accident Attorney: What's My Claim Worth?
Calculating the value of a claim following a motorcycle accident is specific to each case that comes along, so you will not be able to find an easy numerical value that will fit every situation. What you can do is understand how motorcycle accident lawyers and insurance companies generally come to a decision on what a motorcycle accident claim is worth, and this will give you some idea as to what range you should expect your case to fall into.
The main factors that a motorcycle accident lawyer will take into account when calculating your claim are:
- The severity of your injuries
- The cost of your medical treatment
- Your lost wages
- Your pain and suffering
- Your emotional distress
- The permanency of your injuries
- Any property damage that occurred
Damages and Liability
When calculating damages in a motorcycle accident case, you need to consider both liability and damages. Liability is the amount of money the defendant is responsible for paying. Damages are the losses the plaintiff has suffered as a result of the accident. There are two types of damages: compensatory and punitive. Compensatory damages are the compensation for the plaintiff for their losses. Punitive damages punish the defendant for their actions.
Calculating compensatory damages can be tricky. You need to calculate both economic and non-economic damages. Economic damages include things like past and future medical expenses, lost wages, and property damage. Non-economic damages include things like pain and suffering, emotional distress, and loss of consortium. Non-economic damages are harder to prove.
How Are Damages in a Motorcycle Accident Case Calculated?
Economic damages are those that have a specific monetary value, such as medical bills, lost wages, or property damage. Non-economic damages are more difficult to quantify. They may include pain and suffering, emotional distress, or loss of enjoyment of life. In the case of a motorcycle accident, there are a few common types of economic damages that may be available.
Medical Expenses
You may be able to recover the cost of past and future medical treatment related to your injuries. This can include things like ambulance fees, hospitalization, surgery, and rehabilitation. A motorcycle accident attorney will help you to work all of this out.
Lost Wages
If you've missed time from work because of your accident, you may be able to recover lost wages. This includes both the wages you've already lost and the estimated future earnings you would have made if you had not been injured.
Property Damage
If your motorcycle or other property was damaged in the accident, you may be able to recover the cost of repairs or replacement.
Future Losses
When estimating future losses, you need to consider your age, health, and earning capacity. This can be difficult to do, so it's best to speak with an experienced motorcycle accident lawyer.
Settlement and Trial Values
When you value a motorcycle injury claim, remember to factor in both settlement value and trial value. The settlement value is what the case is worth if it's resolved before going to trial. Trial value is what the case is worth if it goes to trial. Trial value is usually higher than settlement value because the plaintiff has more to lose if they go to trial and don't win.
Past Settlements
You can get a rough idea of how much you stand to gain by looking at motorcycle accident settlements that have been awarded in the past. While every motorcycle accident settlement is different, they can give you a ballpark idea of what to expect before you speak to a Kansas City motorcycle accident attorney
You could also look at motorcycle accident verdicts to get an idea of what a jury might award in damages, although it's essential to keep in mind that settlements usually happen before a case goes to trial, and the amount of money that is awarded in a motorcycle accident settlement is usually lower than what would be awarded by a jury.
Motorcycle accident cases can be complex, and each one is unique. There are many factors that need to be considered when valuing a claim. If you've been injured in a motorcycle accident, it's best to speak with an experienced motorcycle accident lawyer. They can help you to understand the value of your claim and what you may be entitled to recover.
