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4 factors that affect the value of your personal injury claim

On Behalf of | Jan 2, 2024 | Personal Injury

If you get injured in an accident that was not your fault, you may wonder how much your claim could be worth. Several factors influence the potential value of a personal injury claim.

There are a few elements that contribute to your claim’s value.

1. Your actual medical costs

One of the biggest factors is the amount of medical bills and expenses related to your injury. This includes ambulance fees, hospital bills, costs for surgery, medication, physical therapy and any other treatments. The more severe the injury and higher the costs, the greater the claim value. Make sure to keep track of all of your expenses and receipts.

2. Your lost income

If your injury prevents you from working either temporarily or permanently, the lost income can significantly increase the value of your claim. Be prepared to provide pay stubs, tax returns and other documentation to prove lost wages. Lost future earnings also apply in the event of permanent disabilities.

3. Pain and suffering

Compensation for physical pain and emotional suffering is another element that boosts claim value. The average pain and suffering settlement is approximately $23,000. The more severe and lasting the impacts on your life, the higher this portion will be. Be prepared to describe how the injury affects your daily activities and quality of life.

4. Liability assignment

In some cases, shared fault for the accident can reduce your claim value. This depends upon the assessment of the accident and the role your own actions played. In South Carolina, comparative negligence laws allow you to collect provided that the other party carries more than half of the responsibility for the incident.

Consider each of these elements as you gather documentation to support your personal injury claim. The more information you have, the stronger your case is likely to be.