Is There a Formula for Person Injury Compensation?
Personal injury compensation sometimes is calculated by a formula
. What you have to understand is that this is based on many factors that an "everyday person" may not understand. This formula is made to consider exceedingly high case sensitive factors and thus is fluid and can vary.For detailed information on how any formula may apply to or affect your case contacted a licensed personal injury lawyer in your state.Some of these factors include the actual damage caused, liability, and comparative levels of fault. The most notable factor used in figuring personal injury compensation is the amount of damage suffered by the victim. This damage could include anything from losses, financial issues, to injuries suffered by the victim. The economic damages consider the injuries and cost of medical treatment and rehabilitation. The non-economic damages include pain and suffering, disfigurement and disability. The victim can even get lost wages as a result from an injury.
The method they figure economic damages is simple and is the base were they start to figure what your personal injury compensation maybe. The victim must first add up all their financial loses. This includes any lost wages and making reports of any medical bills present or still to come due to the accident. Typically, a sliding scale of one to ten is applied based on the severity of injuries and other non-economic losses, and the applicable number is multiplied by the economic damages to determine an equitable amount of non-economic compensation. Generally, this is the formula employed by insurance adjusters. The non-economical are not near as easily discernible.
Usually, a sliding scale of one to ten is applied based on the severity of injuries and other non-economic losses, and the applicable number is multiplied by the economic damages to determine an equitable amount of non-economic compensation. Most of the time, this is the formula employed by insurance adjusters. The courts, on the other hand, often rely on jury or judge decisions, which are often based on the outcome of previous or similar cases, often in light of statutory caps and other restrictions on recovery of non-economic or general damages.
As part of a viable claim the victim and their legal counsel will literally look to see if the compensation payment recoverable will out way the cost of litigating the claim. In short, the only reliable method for a victim to ascertain the amount of compensation recoverable in a given personal injury legal action is through consulting with a personal injury lawyer.
Now that we get to lawyers there are many different types of lawyers to choose from. There are lawyers available for people who do not have the money to pay for one. These lawyers will not charge you anything if they lose you case. There for if they think they may lose the case they may not represent you. But, if they think that you do have a case to work with they will take a certain percent of what is recovered in the final payment when everything is said and done. For the people who already have lawyers then the can either help you or refer you to someone who can.
Is There a Formula for Person Injury Compensation?
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