How is Personal Injury Compensation Calculated in Illinois?
If you have sustained an injury or multiple injuries due to the negligence of a third party, you may want to file a personal injury claim to seek monetary compensation for your economic and non-economic losses. How much can you get from a personal injury claim? It depends. The harm you suffered must be carefully analyzed to determine the amount of compensation you may receive, so the answer to “how much is a personal injury case worth?” will be unique to your specific case. Learn more about economic and non-economic damages and how they can be calculated with the experienced personal injury attorneys at Rubens Kress & Mulholland, below.
Economic damages refer to the financial losses you may suffer as a result of an injury. This can include your medical bills, income loss due to a temporary inability to perform your job as a result of the accident, rehabilitation expenses, or a loss of earning capacity if you are forced to take a lower-paying job due to a permanent inability to perform at your old job following the accident.
How is Personal Injury Compensation Calculated for Economic Damages?
Calculating how much to ask for in a personal injury settlement can be pretty simple in terms of economic damages. The process involves adding up all of your economic losses together. For example, if someone incurred $50,000 in medical bills, $10,000 in rehabilitation expenses, and suffered a loss of income worth $15,000, their economic damages would add up to $75,000.
Non-economic damages encompass the harm you may endure as a result of an accident that cannot be financially quantified. This can include pain and suffering that is physical or emotional, acknowledging the fact that it is often not just economic losses a victim of an accident will endure. Non-economic damages may include physical suffering such as nerve pain or headaches as well as emotional suffering such as depression or fear.
How is Personal Injury Compensation Calculated for Non-Economic Damages?
Determining how much to ask for in a personal injury case where non-economic damages are concerned isn’t as straightforward as calculating economic damages. It is difficult to put a price on someone’s pain and suffering. A jury will decide how much your pain and suffering is worth. They are given little if any guidelines. The attorneys for both the plaintiff and the defendant usually recommend an amount to the jury. The jury does not have to pick one side’s number; they are merely guidelines. The lawyer determines how much to ask for based on consultation with the client, and past verdicts or settlements with similar facts and injuries.
Contact Rubens Kress & Mulholland for More Information
So, how much is a personal injury case worth? As you’ve learned here, the answer is largely dependent on the unique facts of your case. To be sure you’re awarded the fullest compensation possible, it’s best to seek the professional representation of an Illinois personal injury lawyer.
At Rubens Kress & Mulholland, our experienced team of professionals boasts an impressive record of successful personal injury cases in the greater Chicago area. We treat every case with the same level of dedication, advocating for you with the tenacity necessary to ensure a timely and favorable resolution to your personal injury case. Don’t delay seeking legal assistance any longer — contact us today for a free consultation.