How Much is your Motorcycle Accident Injury Claim Worth?
There are two things that are required to be considered in order to value a motorcycle accident case:
Liability refers to the act of holding someone responsible for causing the accident. In cases with no liability, the person who hit the injured was not negligent or the plaintiff failed at proving the negligence of the driver. A case without a liability will not be worth much. No one other than the plaintiff is going to prove the fault of the driver. If it wasn’t a fault of the driver, he does not owe the plaintiff anything.
Damages refer to the injuries or other losses that the victim has suffered as a result of the accident. The nature of the injury largely determines the amount of the compensable injury damages. Liabilities and damages work together to determine the value of a motorcycle accident case.
Settlement Value vs. Trial Value
The two types of values that determine the total value of a motorcycle injury claim include settlement value and trial value. A case’s settlement value refers to that reasonable value that the victim hopes to settle for. The settlement value is a lot less than the trial value. This is because in order to avoid the risk of losing at trial, the plaintiff is required to settle a case, whereas trail value refers to the amount that the plaintiff expects to win.
Calculating the damages in a Motorcycle Accident Case
Damages are divided into two types in a personal injury case:
- Damages that can be calculated, also known as special damages
- Damages that cannot be calculated like pain and suffering of the injured
The first type of damages, also known as special damages, include the plaintiff’s loss of earning or their lost earning capacity in the past, present and future due to the accident. These comprise of medical bills, employment benefits and other financial losses. The second types of damages are not capable of exact calculation. Pain and suffering caused by the juries are calculated by using a good sense, background and experience.
Calculating Lost Earnings
Earnings that have been lost can be calculated easily by adding the earnings and employment benefits that are lost because of being unavailable for work.
Calculating Future Earnings
Calculating future earnings is very difficult as compared to calculating the past earnings. In some cases, economic experts may be hired by the attorneys for the sole purpose of calculating the lost future earnings that the jury will also approve of.
For instance, if an individual worked 5 days a week before he got injured and earned $40,000 a year, but after the injury, his capability to work diminished and he now earns $20,000 a year, then lost wages can be calculated easily. In this case, the loss is $20,000. Work life expectancy refers to the years an individual is expected to work based on the person’s age, sex and race. This is difficult to calculate, therefore, lawyers hire economists to present this information to the jury.
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