How to Determine the True Worth of Your Personal Injury Claim

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Lake Stevens is a charming Washington town, surrounded by stunning mountain views and, of course, the famous lake itself. It is a place where people enjoy outdoor adventures, tight-knit community events, and a strong sense of local pride.

When an accident happens in this dear town with you as the victim, one of the biggest questions on your mind is: How much is my personal injury claim actually worth?

In truth, what really determines how much your personal injury claim is worth? It comes down to several key factors, including the severity of your injuries, the impact on your life, financial losses, and even how well your Lake Stevens personal injury attorney builds the case with substantial evidence. And if all of this sounds overwhelming, don’t worry; we’re going to break it all down.

Factors to Be Considered When Determining the Worth of Your PI Claim

Let’s take a look at the factors that determine how much your claim is worth: 

Economic Damages 

Economic damages are the actual financial losses you’ve suffered as a direct result of your injury. These costs are easier to calculate because they involve specific numbers, receipts, and bills. They include: 

Medical Expenses 

This is one of the biggest factors in determining your claim’s worth. Every single medical expense related to your injury should be accounted for. If you were rushed to the ER after your accident, that hospital bill is included in your claim. Also, follow-ups, specialists, medications, physical therapy, or any consultations related to your injury matter. Some injuries have long-term effects, requiring ongoing treatments, surgeries, or therapy in the future. These projected costs should also be part of your claim.

Lost Wages 

If your injury has kept you from working, your lost wages need to be accounted for. Lost wages in this sense typically includes:

  • Sick days and vacation time you had to use while recovering.
  • Lost bonuses and commissions if your job performance was affected.
  • Reduced earning capacity if your injuries prevent you from returning to your previous job or force you into lower-paying work.

Property Damage 

If your accident involved damage to personal property, such as your car in a collision, the cost of repairs or replacement is part of your claim. Even smaller items, like a broken phone or damaged clothing, should be factored in. 

Non-Economic Damages 

Non-economic damages are the damages that aren’t tied to bills or receipts but are just as real and impactful. There are the major ones:

Pain and Suffering 

Pain and suffering cover the physical pain you’ve endured, but it also extends to emotional distress, anxiety, depression, and PTSD that may arise from the incident. If you’ve had trouble sleeping, lost interest in hobbies, or experienced mood changes due to your injury, this should be accounted for.

Loss of Enjoyment 

If your injury prevents you from doing things you love, this can increase the value of your claim. The loss of your ability to enjoy hobbies, social activities, or daily life should be considered.

Disfigurement or Permanent Disability

If your injury results in scarring, amputations, or permanent disabilities, your claim’s value increases significantly. These injuries affect not only your physical health but also your self-esteem, confidence, and overall quality of life.