What is the Value of Your Pedestrian Accident Claim?

Sharing is caring!

Unfortunately, Louisville, a vibrant city known for its rich history and bustling streets, is no stranger to pedestrian accidents. The city’s high number of pedestrians and heavy traffic often lead to incidents that can have life-altering consequences for victims.

If you’ve been involved in such an accident, understanding the value of your claim is essential to securing the compensation you deserve. A lawyer for pedestrian accidents in Louisville is an essential step to make sure you receive a fair settlement.

Listed below are the integral factors that determine the value of these claims and how they are calculated.

Factors Influencing Pedestrian Accident Claims

Both concrete and intangible losses, such as pain and suffering, lost income, medical costs, and other losses, determine the worth of a pedestrian accident claim.

Severity of Injuries

It is crucial to evaluate the extent of physical injuries when determining compensation. Injury to the brain, spinal cord, fracture, or permanent disability can lead to higher settlements due to their long-term impact on the victim’s quality of life. Emotional trauma, including anxiety or PTSD, may also be factored into the claim.

Medical Expenses

Medical costs are one of the most significant contributors to claim value. These expenses include emergency care, surgeries, hospital stays, rehabilitation therapy, prescription medications, and assistive devices like wheelchairs or prosthetics. Future medical needs are also considered if ongoing treatment is necessary.

Lost Wages

If injuries prevent the victim from working temporarily or permanently, compensation for lost wages becomes critical. This includes current income loss and diminished earning capacity in the future. For example, a pedestrian unable to return to their previous profession due to permanent injuries may receive compensation for projected lifetime earnings.

Pain and Suffering

Even though they are harder to measure, non-economic costs like pain and suffering are just as significant. These damages cover the accident-related loss of enjoyment, mental distress, and physical discomfort. Courts frequently employ techniques like the multiplier approach or per diem computations to quantify these damages.

Liability and Comparative Negligence

Determining fault is another vital aspect of pedestrian accident claims. Kentucky follows comparative negligence laws, according to which compensation may be reduced if the injured party is found to be partially at fault.

How Claims Are Calculated

Injury claims are valued by assessing both economic and non-economic damages:

  • Economic Damages: These include measurable financial losses such as medical bills, lost wages, property damage (e.g., broken personal items), and future expenses.
  • Non-economic damages: They cover intangible losses like pain, suffering, or emotional distress.
  • Adjustments for Negligence: The total amount may be adjusted based on comparative negligence laws.
  • Insurance Policy Limits: The at-fault party’s insurance coverage can cap settlement amounts unless additional compensation is pursued through personal assets or underinsured motorist claims.

Bottom Line

Being involved in a personal injury case can be a challenging and overwhelming experience. However, it is essential to remember that you have the right to seek compensation for your losses.

Having an attorney on your side will enable you to navigate the legal system confidently and work towards obtaining the fair and just settlement or verdict you deserve.