If you’re thinking about settling a personal injury case out of court, there is a need to ensure that the settlement amount comprises all your losses. While the idea of any settlement offer may sound like the quickest end to a case, one must be sure complete compensation for all damages and expenses incurred has been considered.
Legal professionals from the top law firms, like Mottaz & Sisk Injury Law, want you to remember that carefully reviewing your losses will allow you to accept a settlement that covers each and every single damage and loss you have sustained.
Here are some key losses you should be sure are included in any personal injury settlement.
Medical Expenses
This is typically the largest part of your claim, covering all current and future medical treatment related to your injury. Be sure to include:
- Emergency room visits
- Hospital stays
- Surgery costs
- Physical therapy and rehabilitation
- Prescription medications
It’s important to also account for ongoing care if you will need medical treatment in the future, as these costs can add up over time.
Lost Wages and Earning Capacity
If your injury prevents you from working, you can include compensation for lost wages. This includes not only the wages you’ve lost to date but also any future earning potential if your injury causes long-term impairment.
Make sure you provide documentation such as pay stubs or tax returns to support these claims.
Pain and Suffering
Pain and suffering refer to the physical and emotional toll your injury has taken on your life. While this can be more subjective, it’s often included in settlements.
The settlement should account for not just physical pain but also emotional distress, such as anxiety, depression, or loss of enjoyment of life.
Property Damage
If your accident involved damage to personal property, such as your vehicle or belongings, these costs should be included in the settlement. Make sure to get estimates or receipts for repairs or replacements.
Out-of-Pocket Expenses
You may have incurred other expenses directly related to your injury, such as transportation costs to and from medical appointments, home modifications, or special equipment. These out-of-pocket expenses should also be covered.
Loss of Consortium
If your injury affects your relationship with your spouse or partner, you may be entitled to compensation for loss of consortium. This refers to the impact on the companionship, support, and sexual relations with your spouse. It’s important to discuss this with your lawyer to ensure it’s included if relevant.
Punitive Damages (if applicable)
While punitive damages are not always included, they can apply in cases where the defendant’s actions were particularly egregious (such as in cases of gross negligence or intentional harm). These damages are meant to punish the defendant and deter similar actions in the future.
Legal Fees and Liens
Any legal fees incurred by your attorney as well as outstanding liens or medical bills should be factored into the settlement. Your lawyer can help ensure that any liens (such as from health insurance providers) are satisfied before you receive your portion of the settlement.
Final Thoughts
Before accepting any settlement offer, it’s crucial to review the terms carefully with your attorney to ensure that all these losses are covered and that you’re not leaving money on the table.
Additionally, consider how the settlement may impact your long-term financial security and whether further negotiations might be needed.
By ensuring that these losses are addressed, you can secure a more comprehensive settlement that fully compensates you for the injuries and hardships caused by the accident.
