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What Is a Personal Injury Claim? A personal injury claim is a legally filed claim to the right to monetary compensation. The compensation is usually given by a jury or judge after an investigation. Economic damages are the actual cost of a transaction like medical bills or lost wages. Non-economic damages are compensation for emotional suffering, pain and distress. Damages When someone is injured because of an individual or company's reckless behavior the person is entitled to compensation for their loss. Damages are awarded based on the specific circumstances of the accident. They can be decided by a judge following an investigation or by the parties after the settlement negotiations. The following are the most common types of personal injury damages: Economic damages refer to the actual monetary expenses or financial losses incurred as a result of an accident or injuries. These can be established by receipts, invoices and documentation. Economic damages may include future foreseeable costs like medical expenses and loss of earning capacity, and ongoing medical care. Noneconomic or hedonic damages are emotional and psychological impact of a collision or injury. They are more difficult to value than the cost or financial loss. There is no formula that can be used to value these damages, and insurance companies often use a multiplier or per diem determined by the severity of the injury. The injuries that result from an accident could hinder you from enjoying your daily activities such as exercise, hobbies and even relationships with your family and friends. In this instance you could be entitled to “loss-of-enjoyment” damages as compensation for the loss. Finally emotional distress damages are designed to compensate you for the fear and mental anguish you have experienced as a result of your injuries. The amount you receive for these damages could be a major component of your compensation package. Punitive damages are not designed to compensate you for your losses, but rather punish the at-fault party for their outrageous or egregious conduct. They are typically awarded only in the case of grave injury or death. If you or someone close to you has been injured in an accident, it's crucial to contact an New York City personal injury attorney immediately to start gathering evidence and support for your claim for damages. The sooner you start the process of proving the negligence and the severity of your losses the more likely you are to get a fair settlement. Statute of limitations Personal injury claims must be filed within the prescribed timeframe of limitations. This is a time frame following an accident when claims can be brought. This protects both the party at fault and insurance companies who pay out on these claims. It also ensures that the victim has a realistic chance of recovering the amount they are entitled to, as memories fade and evidence may be lost in the course of time. However, the statute of limitations is different depending on the state and the type of case. A knowledgeable lawyer will be able to guide clients on the exact time limit applicable to their case, as well as any exceptions that could apply. For example, in some cases the discovery rule can extend a time-limit beyond its normal three-year limit. This is because the clock doesn't begin clocking on an injury until the person who has suffered an injury realizes or reasonably should realize that there's an association between their injury and the event that caused it. This is usually the case with toxic exposure injuries, like asbestos, but could also be relevant in medical malpractice or cases involving pharmaceutical injury. Some states even allow for an extension in situations where the victim was minor at the time of the incident. They aren't able to file a suit until they are adults, and it is difficult for them to understand the fact that their injuries were caused by another person when they were younger. A person's ability to earn money could be considered a part of the damages, particularly when they are prevented from working. In these instances the injured party has the right to claim compensation from their employer for the amount of wages they would have earned had they not been disabled from working due to the injury. Ultimately, it is vital that any injured party seek legal advice as soon as is possible following their accident. A personal injury lawyer can assist them determine the statute of limitation for their particular case, and discuss any possible exceptions. Insurance coverage Insurance coverage is a broad term used to refer to agreements or policies that protect against liability, loss and damage. Flower Mound injury lawyer could refer to property and liability insurance as in addition to health boatowners', auto and personal watercraft insurance. Life insurance policies, annuities and trusts could be added. Insurance companies can be affiliated with or independent of financial services providers and can employ various business models to offer their services. Liability insurance can protect you from the expenses associated with a bodily injury or death of someone else that you cause while driving your car. It also covers property damage to a vehicle or other property belonging to someone else (such as a building, fence or utility pole). Personal injury protection, also known as PIP insurance covers medical expenses for passengers and you who are injured in a crash that is not your fault. It may also cover the loss of income or compensation for pain and suffering. Damages for the loss of enjoyment can compensate you for the negative effect that an accident has had on your lifestyle, such as missing out on activities you previously enjoyed. Compensation for suffering and pain is designed to restore your health by taking care of your physical discomfort and emotional pain. Loss of property damages may provide the funds needed to repair or replace damaged items or recover their fair market value. Property damages are usually valued at replacement costs, which is the amount you'd have to pay to replace the item with another of the same quality and design without incorporating depreciation. A personal injury settlement can include compensation for funeral expenses in the event of a need. Representation A personal injury claim is a civil action that awards financial compensation to people who have been harmed by an individual's reckless or negligent behavior. This includes claims arising from car accidents, work injuries and medical malpractice. A personal injury lawyer can assist you in evaluating the case and determine what compensation you are entitled to. Attorneys typically are paid on a contingency basis which means that they only get paid if they succeed in your case. This arrangement allows plaintiffs who have suffered injuries to pursue their claims without worry of losing money in the event they lose their lawsuit. You could also be awarded general damages in addition to financial compensation you receive for the economic losses. These damages are not quantifiable in the same way as damages for special causes, however they are less tangible, such as pain and suffering and loss of consortium, defamation, and emotional distress. The amount of damages you receive will depend on the severity of your injury and how it has affected your life. A knowledgeable lawyer can explain the extent of injuries and their effects to maximize your compensation. Your attorney will speak with witnesses and gather evidence to back up your claim. He or she will also examine medical records to determine the severity of your injuries as well as their long-term effects. They can also advise you on how accepting a settlement can affect your tax liability. Your lawyer will draft a formal complaint once they have all the information needed to prove your case. This legal document will outline your legal arguments for the reasons why the defendant is accountable for the accident, and it will also state the amount of damages you're seeking. Your lawyer will also file any necessary paperwork with the court. After the complaint is filed, your attorney will negotiate with the insurance company on your behalf. It can be a complicated process for those who are not experienced with the process, because insurance companies are not willing to pay out large sums of cash and will fight to protect their bottom line. A single mistake can cost you thousands. It is therefore important to work with an experienced lawyer who understands the procedure.