If you have been injured in an accident, you are entitled to a compensation, including pain and suffering settlement. You may be able to get compensation for injuries from car accidents, medical malpractice, slip-and-fall accidents, dog bites, nursing home abuse, industrial accidents, and so on.
Most of the time, damages include both financial and non-financial losses. Economic damage, like medical bills, lost wages, and damage to property, is easy to figure out and prove. Your medical bills, and other payments you made for your care could be used to back up your claim for medical expenses.
As for non-economic damages, unfortunately, there is no certain means of placing a dollar number when it comes to pain and suffering. Still, the pain and suffering you go through in the aftermath of your accident can have effects that last for a long time. The money you receive from your insurance company after the pain and suffering settlement should put you back in the same financial situation you would have in case the accident never occurred. Therefore, you should hire a lawyer who is skilled in both math and negotiating in order to obtain a fair payment for your pain and suffering.
Factors influencing the calculation of pain and suffering damages
Damages for pain and suffering are calculated by insurance companies and lawyers based on a number of factors. These factors include:
- The seriousness of the injuries
- Current and upcoming therapies
- The severity of the physical and psychological suffering
- The effect of the damage on your life
- The extent of the liable party’s responsibility
- Recovery duration
- State laws
In general, no single factor can determine the amount of non-economic loss compensation you deserve. As we’ve already talked about, a fair payment for pain and suffering takes into account both the pain you are in now and the pain you will be in in the future. It also must consider how the injuries will affect the rest of your life.
For example, if you get permanent scars on your face or lose a limb, your pain and suffering settlement should pay not only for your immediate suffering but also any losses you are likely to incur as a result of your disfigurement or disability.
Do You Need a Lawyer to Get a Fair Settlement for Pain and Suffering?
You can use the examples above to figure out how much your pain and suffering will cost you, or you can wait for the insurance company to do it for you. But having a lawyer who has handled personal injury settlements working on your case is always beneficial. The forms of pain and suffering damage mentioned above are only a few examples of how these injuries may affect your life. A lawyer who has dealt with similar cases in the past, preferably ones like yours, can tell you how your injuries may affect you in the future and help you get money for your losses.
Every state has its own laws governing personal injury proceedings, including claims for pain and suffering. Without knowing these laws, you may be unable to deal with the problem in an accurate way. Hiring an attorney takes away these limits and lets you use all of your legal rights without getting into any trouble.
How much is the most you can get for pain and suffering?
Most states have a limit on how much you can get for a pain and suffering settlement. This means that the amount you get depends a lot on how badly you were hurt and how it changed your life.
How much will I pay for my attorney’s services?
Cases like yours don’t have a set fee for lawyers. Most personal injury lawyers, though, only get paid if they win the case. In other words, they don’t get paid until they win the settlement. However, you may need to pay administrative costs such as photocopying expenses, phone charges, expert witness fees, etc., while the case is going on. A contingency fee is based on a percentage, and the rate varies from one attorney to another.
Should I agree to the first settlement offer from the insurance company?
Most of the time, no. Insurance companies want to keep their losses as low as possible, so their settlement offers, especially the first one, are not in your best interests. Once you get the offer, it may be important to talk to a lawyer about whether or not the settlement is fair. If you decide to turn down the offer, the lawyer should help you come up with a fair counter-demand.
Is a settlement for pain and suffering taxable?
Personal injury compensation is not taxed by the IRS at the federal level.
But some states only let this happen when pain and suffering are caused by physical injuries. They could put a tax on the pain and suffering settlement if the pain was caused only by mental or emotional harm.
Can I pursue a lawsuit for suffering and pain?
You can file a lawsuit against someone who hurt you because of their recklessness if they caused you pain and suffering. But you must show strong evidence to show that the other person was at fault and to back up your claim for damages.
We have dealt with numerous pain and suffering settlement cases in New York City, and we can assure you that all you really need to do is make sure all of the above is well documented and understand how insurance companies think. Our attorneys focus on the quality of representation rather than the number of clients we have. Let us assist you in maximizing the amount of your claim for pain and suffering. Give us a call at 1-800-HURT-511 today! We offer free consultations to give personal injury victims a taste of how we can help them recover damages.