Taking A Look At How Personal Injury Settlements Are Calculated

How Personal Injury Settlements Are Calculated

Recovering from an injury is no easy feat. Along with the physical aspect of recovery, medical bills, time off work and mental stress are some of the other biggest challenges that come along with the recovery an injury. Receiving compensation for your injury is a huge help. Not only does it relieve some of your financial stress, but it gives you a little bit of peace of mind moving forward that you will have the necessary support to overcome your injury someday. 

Let’s take a quick look at how these settlements are calculated, including some of the main factors that most often come into play in many personal injury cases. 

The Difference Between First Party And Third Party Insurance Claims in Oregon

Personal Injury Settlements Cover A Variety Of Accidents

Personal injury compensation is distributed when someone sues another person or organization that is responsible for causing an accident. Of course, there are many different accidents that can take place. Car accidents, slip-and-fall accidents and medical malpractice are just a few examples. The bottom line with any of these accidents is that fault must be proven. In other words, the victim must be able to prove that the accident was the fault of the other person or organization. When fault is proven, compensation is received by the at-fault individual’s insurance company. 

Personal Injury Cases Are Made Up Of A Lot Of Different Factors

Every personal injury case is made up of its own unique set of facts. When it comes down to the injury itself, it depends on the level of severity when you start talking about the amount of compensation that is involved. It will depend on things such as: how long the recovery period will be, if the injury is permanent, if there was a loss of functionality, if the injury requires long-term care, and if the injury requires ongoing medication. It also depends on what part of the body was injured. Injuries to the head and the spine are often debilitating injuries that can cause some serious harm. 

How Exactly Are These Settlements Calculated?

As we mentioned earlier, every case is unique in its own way. When you go to figure out compensation, it comes down to several components. The most common components are: medical bills, loss of wages from missing work, damaged property from the accident, pain and suffering, and future loss of income. 

Your lawyer will help you break down each and every one of the above-mentioned components if they are applicable to you. From there, each component will have a monetary figure. Adding up these monetary figures will get you to your final compensation number. For example, if you missed two years of work due to your injury, your lawyer will calculate the exact amount of money that was missed here. This figure is added into the grand total along with other calculations from other components, such as medical bills, damaged property, etc. This is how you come up with a total compensation for your personal injury case. 

Contact a Committed Oregon Personal Injury Lawyer Today!

If you need help with a personal injury case here in the state or Oregon, contact us today at Dwyer Williams Cherkoss Accident Injury Attorneys for a free case evaluation. You can also reach us directly at: 1-800-285-8678. Our team of experienced personal injury attorneys will work hard to get the compensation that you deserve!

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