Determining The Value of Your Personal Injury Claim

Depending on the severity of your sustained losses, the amount of damages you can recover after you filed your personal injury claim will vary. Additionally, your claim will also need to be backed by enough evidence to prove that the other person was fully at fault, otherwise you will automatically receive less compensation.

Putting A Monetary Value On Your Losses

Your damages can be calculated to a total dollar amount which you will then receive as means of compensation. Included in your total are not just medical expenses for your physical injuries, but also damages sustained by your property, as well as any emotional damages you may have incurred. If you wish the personal injury lawyer in Waterloo to calculate and give you an estimate, they will have to factor in the following:

• hospital bills
• medication
• future loss of earnings
• ambulance bills
• treatment and medication
• lost wages
• pain and suffering
• permanent disfigurement or disability
• emotional distress
• decrease in life enjoyment

If your sustained injuries were the result of a particularly gruesome act, the court also has the option of awarding punitive damages. These damages have the sole purpose of punishing the at fault party and heavily discouraging them from ever expressing the same behavior again.

Calculating the Monetary Value of Your Property Damages

In order to calculate the value of the damage inflicted upon your property, it will first need to be determined whether these damages can be repaired, or if replacement is the only option. If a repair job would suffice, the cost of it will need to be determined. As a result of the repair vs replacement factor, the law has begun to group property damages into the following three categories:

• Repairable Property, which will likely entitle you to damages in the height of the repair costs and some interest.
• Destroyed Property, which will entitle you to the full market value of the lost property. Said market value will be researched from the time the accident occurred.
• Non-Repairable Property, which in short means that the cost of the repair job exceeds the market value of the property. In this situation, you will be entitled to damages in the height of the difference between pre-damage and post-repairs fair market value.

How Insurance Plays Into It?

Your insurer will utilize a certain formula when they calculate the damages you are entitled to. Though the number that results from their calculations will still only serve to kick off negotiations. That is why it is important to hire the services of a personal injury lawyer in Waterloo to ensure that you are not low balled into accepting an unfair settlement.

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