When accident victims learn all the damages that have resulted from their unsettling experience, each of them can better appreciate the wisdom behind seeking compensation, in order to facilitate an economic recovery. The nature and extent of the damages determines the worth of any personal injury claim that might be submitted by the injured victim.
Money that might be demanded, as reimbursement for unexpected expenses
• Money to cover the costs created by any disfigurement of the injured victim
• Money to cover the expenses that could be created in the future, as a result of complications, those related to the accident-linked injury
• Money to use during the recovery, when paying for necessary household services
• Cash for medical expenses, medical equipment and medication
Losses that might be suffered by victim
Loss of consortium: Having to deal with the absence of all the benefits of married life
Loss of enjoyment of life
—That could result from the presence of ongoing pain
—That could result from emotional or psychological disturbances
Loss of participation in social interactions
Loss of companionship
Lost earning capacity
Lost wages
Determination of a claim’s value gets based on the worth of the reported economic and non-economic losses.
Most insurance companies have chosen a method for determining the worth/ value of losses that do not have a distinct monetary value. Some use a formula, one that focuses on the nature and extent of the victim’s injuries. Others use an assessment of the daily monetary toll for the affected victim. Today too, more and more insurance companies have chosen to rely on a computer program.
How personal injury lawyers can affect the assessment of a claim’s worth.
Insurers realize that injury lawyers in Etobicoke tend to put a high value on the case of a typical client. For that reason, insurance adjusters check to see whether or not a given claimant has chosen to retain an attorney. Claimants that have retained an attorney tend to receive a higher offer from the relevant insurance agency.
Often, a claimant that has decided against hiring a lawyer agrees to accept a lower offer. For that reason, insurers discourage their adjusters from coming forward with a generous bid, when dealing with claimants that have failed to seek a lawyer’s services.
Insurers realize that the full extent of a claimant’s damages could go unrealized, in the absence of an attorney. That is why adjusters avoid making a large offer, whenever claimants lack any legal representation.
So, any reader of this article should keep that fact in mind, in the event that he or she was to become an injured accident victim. Parents, too, should think about hiring a lawyer, if there were minor occupants in the damaged vehicle.
