Personal injury claims and lawsuits are based on various factors; the value is estimated considering various aspects of the accident and injury. It considers the severity of injury, duration, or the effect of injury on your life and various other factors.
In this article, we will analyze the important factors that affect your claim. In addition to this, we will also learn more about how you should be vigilant about your claims as insurance companies try to reduce your claim amount. So, let’s start our discussion about how to determine the true value of personal injury claims.
What are the Factors to Determine the True Value of Personal Injury Claims?
- Type of Injury: What type of injury you have suffered will dictate your personal injury claim. You might have suffered injuries such as bruises, lacerations, fractures, whiplash, disfigurement, organ damage, traumatic brain injuries, and spinal cord injuries. So, based on these types of injuries, the more painful and expensive injury will have more claims. If the injury is less painful and can be treated easily, the claim can be less.
- Medical Expenses: Medical expenses are recovered in the personal injury claims, and therefore, they become an important factor in personal injury claims. The calculation will include bills for hospitalizations, surgeries, prescription medications, medical equipment, rehabilitative care, and at-home care. The cost of the treatment may vary in different hospitals, and therefore, you must consider proper bills and expenses for your claims.
- The severity of the Injury: The severity of the injury plays an important role because it will decide all the other factors, such as medical cost and healing time. In short, if the severity is higher, it will take more time for healing and also more medical bills. Therefore, the severity of the injury is also considered in personal injury claims. For example, a hairline fracture will heal faster than a shattered bone, and it will also take surgery and physical therapy.
- Variation from person to person: The injury also differs from person to person because it depends on the age and health of the person. If there is injury to an old age person, it will have a more severe effect, and therefore, this factor is also important to consider in personal injury claims.
- Impact of Injury on Your Life: If the injury is long-lasting, it can have a severe impact on your career, dependents, and mental health. So, it is also essential to consider these factors before moving ahead with the claims.