It requires a lot of effort to assess the worth of your injury lawsuit. Most people don’t give personal injury lawsuits much thought until they or someone they care about gets injured. However, the most crucial step in establishing compensation for any injury claim is determining the value of the case.
What are Non-Economic Damages?
To compensate for emotional distress, non-economic damages can be sought in a personal injury claim. They allow you to place a monetary figure on your losses and serve as a type of compensation.
As a consequence of a personal injury, you may be entitled to non-economic damages to compensate you for pain and suffering, disfigurement, a decline in quality of living, and emotional distress.
It is notoriously difficult to put a price on intangible losses. If at all possible, be as specific as possible in your response. It would help immensely if you could create an image that persuades the jury to rule in your favor.
Discovering and examining the situation extensively might help you win your case for monetary damages.
Criteria Used to Determine the Value of Non-Economic Damages
We are sometimes at a loss for words to describe the magnitude of our pain. Its impact may be hard to quantify. Nonetheless, you’ll have to argue your case in open court.
A jury must assign a monetary value to your pain if you don’t. The following techniques can be utilized to determine the worth of non-economic damages.
First, you can utilize the multiplication method. This technique is where you multiply all expenses (economic losses) by a specified number. Such a range often falls within 1.5 and 3. This method allows for the accurate calculation of non-economic damages across the board. The numbers 1.5 and 2 are often employed. It could be feasible to apply 3 if the harm is severe or is expected to last a long period.
Second, we might use a daily approach. In accordance with that plan, you determine the value of a day without the discomfort you’re feeling. After that, we project how long you will endure that situation. The two are then multiplied together to determine the value of the damages.
The third option is to employ the before and after strategy. In this criteria, you talk about your experiences both before and after the disaster. You explain to the jury in percentage figures your capacity before and after the accident. Non-monetary harms can be evaluated using these figures.
The procedure of claiming as well as proving non-economic damages might be complicated, but your injury attorney will help you through it. One of the first things to do when figuring out how much money you’ll be compensated is to find out how much money you spent on medical treatment.
According to Gallagher & Kennedy, you can examine the evidence, have it acknowledged in court, and negotiate a reasonable compensation with the aid of a skilled personal injury attorney. The ability to negotiate a satisfactory conclusion is useful in many contexts. Sometimes, though, it’s necessary to go to trial. Your lawyer will evaluate the situation and advise you on how to proceed.