Lawyers calculate settlements by evaluating both economic and non-economic losses that an injury victim has sustained. Your lawyer will then advocate for the fair compensation you deserve.
If you or a loved one was injured due to someone else’s negligence, a Houston personal injury lawyer from Omega Law Group Accident & Injury Attorneys can help.
How Do Lawyers Calculate Settlements in Personal Injury Cases?
During your initial consultations with your lawyer, they will listen to your story and examine the full scope of your losses so that they can calculate a potential fair settlement. Typically, they will look at your economic and non-economic losses, but there may be additional damages that you qualify for in specific circumstances.
Economic Damages
Economic damages compensate for financial losses. These generally include:
- Past, ongoing, and future expected medical expenses: For example, the initial ER visit and diagnostic testing, ongoing physical therapy appointments, and a planned surgery.
- Lost income: These are the wages you lost while recovering or attending medical appointments. In addition, you may also be entitled to recover lost job benefits, like PTO or retirement contributions.
- Reduced earning capacity: If you will be unable to return to the same level of work, then you may be entitled to the loss of your ability to earn a living.
- Other expenses: Depending on the specifics of your case, you may be entitled to things like property damage or home modifications needed after a disability.
Non-Economic Damages
Non-economic damages are a type of compensation for the physical and personal effects of your injury. They can include:
- Pain and suffering: The physical effects of your injury, including chronic pain.
- Emotional distress: This includes anxiety, depression, or PTSD as a result of the accident and your injuries.
- Loss of enjoyment: If you are no longer able to partake in hobbies and physical activities that you once enjoyed.
- Other non-economic losses: These may include loss of a limb, scarring and disfigurement, and reduced quality of life.
Wrongful Death Damages
A Houston wrongful death lawyer from Omega Law Group Accident & Injury Attorneys can help surviving family members pursue financial accountability after the loss of a loved one. Calculating wrongful death damages may include looking at losses like:
- Funeral and burial costs.
- The loss of the decedent’s financial support.
- Loss of emotional support/companionship.
- Loss of parental guidance.
- Medical expenses.
- The decedent’s pain and suffering.
Punitive Damages
In certain circumstances, you may be entitled to punitive damages. This type of compensation accounts for cases of extreme negligence or intentional harm. However, this portion is not calculated by your personal injury attorney. Instead, a jury or judge will decide the amount of punitive damages that may apply.
How Do Your Injuries Factor Into Your Settlement’s Value?
A significant factor in how your lawyer will calculate your settlement is the severity of your injuries. Some common injuries that may result in larger settlements include:
- Spinal cord injuries: Especially those that cause long-term effects like nerve damage, chronic pain, or a permanent disability.
- Traumatic brain injuries: Severe TBIs that cause lasting mental or physical effects.
- Loss of a limb: This permanent disability may impact your ability to earn a living.
In addition to the severity of your injury, your lawyer will also consider the long-term effects of the injury. They may consult with medical and economic experts to determine these long-term impacts and costs.
For example, if you are paralyzed due to a spinal cord injury, you may be unable to continue working, need to make modifications to your home, and rely on housekeeping and childcare services to accomplish daily tasks. These costs will continue for the rest of your life, and you deserve compensation that accounts for that expense. A lawyer from Omega Law Group Accident & Injury Attorneys will seek compensation for immediate and long-term losses.
(310) 526-8383Does Your Level of Fault Impact Your Settlement?
Yes, your level of fault will directly affect the amount of your settlement. Under Chapter 33 of the Texas Civil Practice and Remedies Code, injury victims can only recover compensation when they are under 51% at fault. If you are deemed to be 51% or more at fault for your injury, then you may be barred from compensation.
Additionally, your percentage of fault may be used to lower your recoverable compensation. For example, if you had $100,000 in damages but a court finds you 30% at fault, then you will only be able to recover $70,000.
Insurance companies may try to unfairly shift blame to you. However, your personal injury lawyer from Omega Law Group Accident & Injury Attorneys will use evidence to push back against these tactics.
Is Your Settlement Affected by the Statute of Limitations?
Yes, the statute of limitations can affect your ability to recover compensation through a settlement. Under Chapter 16 of the Texas Civil Practice and Remedies Code, you typically have two years to file a wrongful death or personal injury lawsuit.
In specific situations, this timeline may be shorter or longer than the typical two years. Always discuss the timeline for your case with the legal team at Omega Law Group Accident & Injury Attorneys.
Contact a Houston Personal Injury Attorney Today
How do lawyers calculate settlements? Your lawyer will carefully assess the severity of your injuries alongside your economic and non-economic losses. If you or a loved one were harmed because of someone else’s negligent actions, you deserve compensation.
Reach out to the dedicated team at Omega Law Group Accident & Injury Attorneys to protect your legal rights and seek a fair settlement. Schedule a free consultation today.
