subject: Calculating the fair and adequate compensation for an injury [print this page] Calculating the fair and adequate compensation for an injury
When another's negligence or wrongdoing results in an injury to you or to a loved one, you have the right to claim a fair and adequate compensation. The question that now arises is what is as the right compensation for a personal injury. Like most issues, the answer is relative what you and your attorney consider as rightful may not be what the insurance adjuster thinks.
Categories to consider
It is possible for a competent personal injury attorney to help you understand the right way to calculate what you can claim as compensation. However, having a clear idea about what is included gives you the right base to work with your attorney. The compensation is categorized into the following sub-divisions:
Economic Losses the expenses incurred in the past and those to be incurred in the future because of the injury.
Non-economic Losses the physical and mental troubles you had to face and any related problems in your professional and personal life.
While it is easy to calculate the economic losses that you have already incurred, it isn't the same for future costs. You have medical reports and bills to prove what you have paid for the treatment of the injury. You could also arrange for documentation to support the loss of wages or home maintenance cost claims.
However, for the future costs that are connected to the injury, you need to opt for help from the right professionals. A qualified medical professional could evaluate your condition and recommend whether you require any medical care or treatment in future. Any medications or life support systems necessary are also part of this cost.
Defining loss of earning capacity'
Only expert testimony could help ascertain the loss of earning capacity', that is what you were capable of earning if there was no such mishap and what you could earn with your present physical and mental limitations. Your personal injury attorney could oversee this procedure and see that it is completed following the right method.
The procedure involves certain steps. A certified medical practitioner must provide the details of your physical and mental limitations. The next step involves getting a vocational expert to testify that the limitations restrict your capability as a worker. The expert takes into account factors like your qualifications, experience and training while calculating this loss.
Most insurance adjusters use a certain formula to calculate what you owe as compensation. However, this isn't a proper way to estimate the value of the injury. Every individual is different and an injury may have varied consequences for each. This is why each case is treated differently.
Your Milwaukee personal injury attorney could help you get a good idea about what may be considered as the right compensation in your particular case. This is the reason you need to appoint a proficient legal professional for the case immediately.
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