How to Calculate the Value of Motorcycle Accident Claims
A person injured in a motorcycle accident should consider a personal injury lawsuit. The victim could be eligible for compensation due to accident related injuries and other losses. Without proper representation, accident victims are less likely to receive the full compensation they deserve. A professional motorcycle accident attorney knows how to calculate the value of motorcycle accident claims.
Unfortunately, there is no simple answer or magic formula to determine the value of a specific motorcycle accident. Every case is different. Individual circumstances often determine specific case value. However, understanding claim valuation is possible. To calculate the value of a motorcycle accident claim, add the estimated amounts of the following factors.
5 Factors that Determine the Value of a Motorcycle Accident Case:
Medical Costs
An accounting of all medical costs as a result of your accident is an important first step. You need to tally the cost of medical care already received along with expected future costs. Injury related medical costs for the rest of your life increase the value of a motorcycle accident claim. This can be a bit challenging, and an experienced personal injury lawyer can help you to estimate this value.
Lost Wages
It is common to be unable to work for a period of time while you recover from a motorcycle wreck. In addition, permanent residual disabilities from injuries sustained in an accident can impact your ability to return to your job. This might require partial or total disability or retraining for a new career. It could also include an extended leave of absence while you seek physical and occupational therapy. The total value of a motorcycle accident claim includes all costs related to lost wages.
Property Damage
More than likely you will have property damage. You can claim the cost of motorcycle repairs if your motorcycle is fixable or total replacement if it is not. You can include any riding gear that EMS personnel cut off. Include any property damage you are responsible for that occurred during the crash. Liabilities often include guardrail damage, telephone pole replacement, or damage to other vehicles.
Pain and Suffering
Pain and suffering is by far the most difficult factor to weigh. This value is the hardest to estimate when determining claim value. A qualified motorcycle accident attorney knows how to determine an accurate amount. Based on the motorcycle accident statistics it is important to have adequate motorcycle insurance to get the compensation you deserve.
Legal Costs
The cost of legal fees required to help you win your case is another factor to consider. Include this amount when calculating your initial settlement offer. In doing so, you are more likely to obtain a satisfactory resolution when you win your case.
Determining the exact value of your individual case can be a difficult process. Seeking the advice and assistance of a qualified lawyer, like those at the Bernard Law Group, can help you get a fair settlement amount.
